Central America has a new star on the rise
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PHOTOGRAPHS COURTESY OF RANCHO SANTANA
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Some 25 years after the end of the brutal and devastating Contra War, Nicaragua is emerging as a new and exciting destination for sophisticated travelers and savvy real estate investors. Blessed with miles of pristine coastline – fronting the Pacific Ocean to the west and Caribbean Sea to the east – along with beguiling beaches, a rich cultural history and rare natural beauty, Nicaragua is positioning itself as the next Costa Rica, offering an array of luxurious vacation retreats and exclusive oceanfront real estate options. Carlos Pellas, one of the country’s wealthiest businessmen, launched the multi-award-winning Mukul Beach, Golf & Spa at Costa Esmeralda on Nicaragua’s southwest Pacific coast, and believes the new surge in interest in Nicaragua goes way beyond travelers’ bragging rights. “Many people have been to Mexico, Costa Rica and the Dominican Republic, but everyone is looking for a place that is truly unspoiled and underdeveloped, that is authentic, where you can see culture,” he says. “That is what is making Nicaragua so popular right now.” Pellas is also investing in Costa Esmeralda Airport, opening this November, so private jets can fly directly from the United States and commercial flights arrive in 25 minutes from Nicaragua’s international airport in Managua and Costa Rica’s Liberia International Airport. The Emerald Coast is home to an array of luxurious resorts and exclusive oceanfront residential offerings, including Mukul, Rancho Santana and Aqua Wellness Resort, soon to become a Six Senses retreat. Pellas believes a stable government and currency, safe and secluded beaches and good value for money are attracting American buyers. “Beachfront property is so scarce these days,” he says.