A unique opportunity for investors to participate in operational real estate properties located within the UNESCO World Heritage boundaries of Willemstad.
harvesting heritage Preservation of heritage and history
The investment of the Curaçao Heritage Fund has been made in fully renovated UNESCO World Heritage properties with a stunning Dutch colonial architecture dated back to the 18th and 19th century, covering a total area of approximately 5,862m2 and situated throughout the Pietermaai Smal district. An evolving, historic district where emblematic monuments have been restored to their former glory.
return vs risk profileLow risk and attractive returns
The Fund’s mission is to invest in income generating real estate properties located within the UNESCO World Heritage boundaries of Willemstad, Curaçao. The intention is to structure more of these vehicles as part of a larger platform of funds, while adhering to the main objective of holding commercial real estate with existing and stable income from sustainable long term contracts.
An investment philosophy that suits the relatively conservative appetite and prudent investment policies of pension funds and financial institutions. The risks accompanied with this investment are relatively minimal, due to:
• a low LTV ratio (loan to underlying value)
• a high interest rate coverage ratio
• a high cash flow margin
• already active operations of the properties
CFG Real Estate N.V. (‘CFGRE’), the manager of the Curaçao Heritage Fund, has the skill set to pull all current operations of the properties to the next level — increasing profitability & lowering the default risk.
tax benefits
Significant tax benefits
Investing in heritage preservation through UNESCO World Heritage properties located in Curaçao can provide significant tax benefits:
• Waiver of Transfer Taxes for the purchase of registered monuments and buildings located in the UNESCO World Heritage Site of greater Willemstad
• Investment Tax Deduction of 30% for any investment in monuments
• Subsidies through Stichting Monumentenfonds for the restoration of monuments
Interested in the potential tax benefits of our investment opportunities? Please contact our management team directly at invest@curacaoheritagefund.com or consult with your own tax advisors with reference to your specific tax situations.
portfolioA well-diversified portfolio
The Fund’s current investment portfolio contains commercial units, hotel units, apartments and student housing units. The properties have been fully renovated and built up in a way that makes it possible to perform maintenance at the highest level. The renovations have also caused the service costs to decrease significantly, compared to the service costs of properties of similar age and type.
impact investment Sustainable and socially responsible investment
The portfolio of operational and restored monuments have contributed to today’s reputation of the Pietermaai district: a colorful and vibrant district where emblematic monuments have been restored to their former glory, where a nice mix of residents, businesses and visitors set the scene and where you can eat, drink, dance and enjoy life. Pietermaai is both wonderfully laid-back and surprisingly dynamic; it is often referred to as the 'Soho' of Curaçao.
The developments have a positive effect on the economy of Curaçao as it attracts more interest from tourists and generates more traffic to and through the district. Expectations are that the neighborhood will continue to experience growth of residential apartments, bars, restaurants, nightlife and hotel lodging, which will make Pietermaai an even greater experience and a must see attraction in itself for everyone, both locals and tourists. The expected growth will come from developers restoring and renovating numerous decaying monuments still visible in Pietermaai.
The flourishing and vibrant state of Pietermaai has positively contributed to an increasing sense of safety and reduction in criminal behavior, which in turn has increased the demand for habitation. The hospitality industry in Pietermaai has generated long-lasting employment opportunities as well as a positive contribution to the social community with colorful buildings, a lively atmosphere and diverse resident groups.
highly skilled management teamThe Curaçao Financial Group N.V.
CFG Real Estate N.V. (CFGRE), a limited liability company established under the laws of Curaçao, is the manager of the Curaçao Heritage Fund. The Manager is a 100% subsidiary of The Curaçao Financial Group N.V., which is wholly owned and controlled by Walter Blijleven and Bharat Bhojwani. The Curaçao Financial Group N.V. (cfg) is a financial service organization which is specialized in corporate valuations, M&A advisory, company value improvement, capital raising and in creating total investment solution packages.