Porto Cupecoy Approaches December Opening with Strong Sales

Luxury Marina Community on St. Maarten Projected to Open on Schedule

 

ST. MAARTEN (November 16, 2009) – With only one month until its first residents move in, Porto Cupecoy, developed by Orient-Express Hotels Ltd., is proving to be an exception to the rule in the Caribbean real estate market.  The 182-residence seaside village will not only open its white glove marina, luxury residences, gourmet restaurants and shops in December as scheduled, but has also exhibited consistently strong sales in the pre-opening period with Phases 1-4 already 70% sold out and the overall project 50% sold out. 

Orient-Express CEO Paul White was recently quoted as saying that potential investors “…can buy from us with confidence that the project will be completed and to a high specification.”  Visitors to the site have seen the consistent construction progress throughout the last year, despite activity being halted at many other Caribbean developments.  Also fueling second-home sales are the project’s attractive price points, which range from USD $400,000 to $2.8 million per unit, thanks to pre-opening discounts (pre-opening pricing will no longer be available after the gala Grand Opening event in January). And to further entice potential buyers, Porto Cupecoy has also instated other pre-grand opening incentives such as 90% financing and two year’s complimentary homeowner’s association fees. In continuation with the trend, Porto Cupecoy is also expected to attract strong post-opening interest.

There are many factors contributing to the success of Porto Cupecoy. First, Porto Cupecoy is the finest quality new development in the Caribbean, with tasteful European design including giant marble or travertine bathrooms, Viking stainless steel appliances, teak wood kitchens, oversized balconies and mahogany interior doors and millwork.  Second, St. Maarten has a diverse population, drawing almost equally from France, the Netherlands, the United States and Canada meaning that it is not disproportionately affected by the ups and downs of any one country.  Third, Dutch St. Maarten offers a variety of highly-unique financial benefits for buyers, including no property taxes, no capital gains taxes, and lower than average closing costs for purchase.   Fourth, non-stop flight service to St. Maarten has increased, making the destination one of the most accessible islands in the Caribbean. Finally, unlike many other condominium communities, Porto Cupecoy benefits from a large contingency of primary home buyers who are trading up to Porto Cupecoy from their primary homes elsewhere in St. Martin, St. Barts and the Caribbean, ensuring that the development will turn into a real community.

Located in the Caribbean’s Netherlands Antilles, Porto Cupecoy embodies the characteristics of a true Mediterranean village with high-end shopping, dining, services and amenities, in addition to residences and a luxury marina.  The architectural inspiration for the property is Portofino, located on the Italian Riviera, and the community is similarly anchored around a marina, the most exclusive and upscale on the island. 

The marina has a unique structure in that the majority of yacht slips will be owned by the community’s residents, and rented on their behalf by the marina management when they are not in use. Prices for yacht slips, including mega yacht slips up to 200 feet in length, range from USD $150,000 to $3 million.

Homeowners will be able to enjoy a wide range of on-site amenities, including tennis courts, swimming pools, several dining options, as well as concierge and “white glove” marina services. For residents interested in renting out their home or boat slip while not in use, the community has its own dedicated professional onsite vacation rental management program, creating hassle-free rental revenue for owners.  The beach is immediately across the street, 50 yards from the community’s entrance.

To schedule an escorted tour of Porto Cupecoy, contact the sales team at +599.545.2318 / sales@portocupecoy.com or stop by the Preview Center located on site in St. Maarten at Lot 182, Rhine Road, Dutch Lowlands. For more information on Porto Cupecoy or to watch a “fly thru” preview video, please visit www.portocupecoy.com.

# # #

Orient-Express, (NYSE: OEH, www.orient-express.com) the name behind an elite collection of travel experiences, first came into being in 1883 as one of the world’s most exciting and indulgent train journeys.  Today those same two evocative words also embrace hotels, cruises and other luxury rail adventures in 25 countries, across five continents.  The Company has offered exceptional luxury travel experiences since 1976, when it first purchased Hotel Cipriani in Venice and then shortly afterwards, recreated the celebrated Venice Simplon-Orient-Express, linking London, Paris and Venice, along with other European cities.  Today, the company owns or part-owns and manages 49 businesses, 39 of which are highly acclaimed hotels, each unique in style, from the Mount Nelson in Cape Town and Rio’s Copacabana Palace, to the Grand Hotel Europe in St. Petersburg and Maroma Resort & Spa on Mexico’s Riviera Maya.  There are two restaurants, including ‘21’ in New York, two river cruise operations and six luxury trains. 

Orient-Express real estate developments draw on over 30 years of experience in the creation of luxury resorts and travel experiences.  The company’s overriding commitment to providing the highest quality of service, products and amenities in its hotels, trains and cruises is also a standard in its real estate developments. In addition to Porto Cupecoy, Orient-Express is currently offering luxury lifestyle residences at The Villas at La Samanna (St. Martin), Keswick Estate (Charlottesville, Virginia) and Napasai (Koh Samui, Thailand). The company owns developable land in Madeira; Riviera Maya, Mexico; and St. Michaels, Maryland.

Media Contact:

Keri Kirschner / Kelsey Paquin | The Brandman Agency | 212.683.2442 | firstname@brandmanpr.com