New portal lets investors join the (resort) crowd

Ever dreamed of owning resort property? If so, The Resort Crowd is giving you the chance.

The Resort Crowd, a crowdfunding platform four luxury resort properties in Cape Verde, is now live. Investors can participate with a minimum of £10 while receiving fixed annual returns of up to seven per cent on properties under construction and up to five per cent on completed ones. All returns are guaranteed through a commercial arrangement with The Resort Group PLC.

“We’ve combined overseas property with the revolutionary medium of crowdfunding to offer a genuinely different investment opportunity, from individuals wanting to invest for the future to business owners looking to diversify how they reinvest their profit,” The Resort Crowd operations director Kim Collier said. “For entrepreneurs and amateur investors it’s an alternative to low-interest savings accounts. Cape Verde is one of the fastest-growing and safest tourism markets in the world. Early investors can be among the first to invest in this next big holiday destination through what is still a relatively new form of DIY investing to get fixed, great annual returns, guaranteed by one of the biggest companies in the industry.”

The Resort Crowd participants invest in shares of a special purpose vehicle (SPV) company that owns overseas property. They can choose from properties across the Cape Verde islands. While there is no upper limit on portfolio values and sizes, no single investor can hold more than 19.9 per cent of a single SPV. Any properties not fully funded within three months will see investors fully refunded. Once properties are funded, investors can sell shares at any point through a secondary market.