| Attorney General: "Your Properties Are Absolutely Secure" August 22, 2007
Developers expressed newfound optimism regarding investment in Nicaragua after meeting with the country's attorney general, who vowed that two prominent land disputes along the Pacific coast would be solved soon. "Your properties are absolutely secure," Attorney General Hernan Estrada told a group of outside investors during a meeting, according to the Nica Times. Homeowners at Arenas Bay said that the attorney general is now urging governmental agencies to restore environmental permits and clear up confusion over property titles-issues that have put the project on hold. Meanwhile, attempts to build a surf resort at Popoyo Beach appear to be back on track now that police forces have agreed to step in and defend the land from outraged community members challenging the sale.The two disputed properties make up just a small fraction of the 100 or so developments that have sprung on Nicaragua's attractive and popular Pacific coast. But some interested onlookers are still worried that such high-profile land problems might cause a "domino effect," and give investors already nervous about President Daniel Ortega yet another reason not to buy. Not everyone is satisfied with how Ortega is handling outside investment, especially in relation to his growing friendship with Iran and Venezuela. Still, the recent meeting with the attorney general went a long way toward calming investor nerves, according to participants. "We encountered a new world…the red carpet was rolled out for us," said one developer. "I believe this may stand out as a great week for the bright future of Nicaragua." Your Latin America Insider, Suzan Haskins P.S. Learn more about the immense potential of Nicaragua when you join us in Panama at the UE II, IL's biggest event ever. | |
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