Cahal Pech consists of 1.448 acres located in the town of San Ignacio. The property includes one and one-half acres next to the Cahal Pech Village Resort. The parcel has a partially constructed four-story condo and an existing 12,000 square foot entertainment center.
The Company intends to complete the construction of Phase-I of Casa de Cahal Pech, which consists of eight two-bedroom condominiums in a four story building. The Company then hopes to move to Phase II of the project, which is expected to include conversion of the 12,000 square foot entertainment center into additional condo units. A swimming pool, day spa and other amenities are planned to be created as well as an additional four-story vertical condo in Phase-III.
It is anticipated that the property will be co-marketed with Orchid Bay and Belize River Property to people interested in housing closer to the city. The property is also planned to be marketed to expatriate citizens working in San Ignacio and Spanish Lookout in the archeology, tourism, and oil industries. Due to the number of requests from Orchid Bay customers for condos in San Ignacio, the Company expects several sales to come from Orchid Bay prospects, though no assurances can be given in this regard.
