@ Contact Us

Q & A

Questions & Answers

  • Uncategorized
Expand All | Collapse All
  • 1. WHAT IS THE CURRENT STATUS OF THE PROJECT?
     

    Grading of our unique oceanfront terraces in the Las Playas and Vista al Mar communities which will provide every home a spectacular ocean view is currently nearing completion.  Preliminary grading of the Campos de Golf community has been completed.  Construction of retaining walls and installation of power, water and wastewater infrastructure is underway.  Our state-of-the-art terracing design provides virtually every home with a glorious view of the Pacific Ocean, Ceibo Valley Golf Club, or in many cases both (not just the front row of homes like in most communities).

    First homes in Vista al Mar A row are now under construction.  Both the retaining wall and road base and subbase for this street is completed.  The final road will be completed after the construction of houses where heavy equipment is no longer required.

    Clearing and preliminary shaping has been completed on every hole for our world-class Ceibo Valley Golf Course.  Holes 14, 15 and 16 have drainage completed on greens and bunkers, and planting of natural grasses is underway.  Shaping of the 13th and 17th has been completed and drainage and irrigation systems are expected to be installed shortly.  Final shaping is underway on holes 10, 11, 12 and 18.  As soon as the final shaping is completed, our shapers will start the final shaping of the front nine of the course.

    Horse pasture fences are currently one-third complete and temporary shelters for horses will soon be built.  Once additional teak posts arrive we will complete the remaining pastures.

    Last updated on 6 April 2016.
  • 2. HOW MANY RESIDENCES HAVE YOU SOLD?
     

    We sold 52 homes during our introductory phase.  After our pre-construction sale, which ended in February 2016, we have sold over 80% of condo units available and 60% of released lots in the Las Playas community.  More condo units will soon be released for sale and all home sites in the Vista al Mar community are now available for purchase.

    Last updated on 6 April 2016.
  • 3. WHAT IS THE COST OF A HOUSE OR CONDO AT LAS OLAS ECUADOR?
     

    Prices vary based on the location and the view, although nearly all of the currently available residences offer amazing views.  In the Las Playas community, condos start at $155,000 and homes at $216,700.  In the Vista al Mar community, condos start at $114,500 and homes at $172,550. In Campos de Golf community, condos start at $98,500.  Visit our Special Offers page for all the latest benefits we offer with your purchase.

    Last updated on 21 September 2016.
  • 4. WHEN WILL THE FIRST HOMES BE READY?
     

    We started home construction in the Vista al Mar community in February 2016.  We are expecting the first three houses to be completed in June.

    Last updated on 6 April 2016.
  • 5. WHEN WILL THE GOLF COURSE BE READY FOR PLAY?
     

    We anticipate construction of the first nine holes to be completed around the third quarter of 2016 and the full course being completed around the second quarter of 2017.  During the first year of operation, the golf course will be using the tennis club as a clubhouse until our stunning golf clubhouse is complete.

    Last updated on 6 April 2016.
  • 6. WHY DO YOU NOT SELL JUST THE LOT?
     

    Most developers in Ecuador sell only lots.  The reason they do this is that it allows more people to purchase land in Ecuador with a lower initial investment and lower cost for real estate speculators.  We will not sell lots, but rather sell finished homes situated on lots.  The reasons for this are as follows:

    - It greatly reduces the number of buyers that are buying the land purely for speculation purposes.

    - It substantially reduces the construction period for all houses to be built.

    - It reduces headaches by having us build a home rather than a purchaser trying to build their own home in a foreign country.

    Last updated on 6 April 2016.
  • 7. WHAT ARE THE SIZES OF THE HOMES AND CONDOMINIUMS?
     

    We have five home sizes starting at 1,350 sq ft, 1,500 sq ft, 1,720 sq ft, 2,000 sq ft and 2,500 sq ft.  The 2,500 sq ft. homes are available on a very limited number of larger lots or by purchasing two lots. This allows owners to build a custom 4-bedroom house. Condominiums start at 1,000 sq ft. Three story condos average 1,000 square feet of interior space and between 379 and 559 square feet of outside terrace.

    Last updated on 6 April 2016.
  • 8. CAN I RENT MY HOME OUT?
     

    Yes, you can rent out your home yourself or if you choose you can utilize the Las Olas vacation rental program, designed to effectively market and rent your property in order to maximize the return on your investment.

    Last updated on 6 April 2016.
  • 9. WHO ARE YOUR BUYERS?
     

    Most buyers are between 52 and 62 years of age with some buyers as low as their 30’s and some in their early 70’s.  50% of buyers are from the United States, 35% from Canada and the rest are from Europe and Ecuador.

    Last updated on 6 April 2016.
  • 10. HOW CLOSE IS THE NEAREST TOWN?
     

    The seaside town Bahia de Caraquez is 12 minutes from the property with a population of 30,000.  The city of Manta is currently 55 minutes away and the travel time will be reduced to 35 minutes with the completion of the new highway, expected in three years.  Manta is the fastest growing city in Ecuador with a population approaching 300,000, it will also have the largest shopping mall on the coast, which is currently under construction.

    Last updated on 6 April 2016.
  • 11. HOW HARD IS IT TO GET A VISA?
     

    For part-time residents Ecuador offers a three months travel visa which can be extended up to an additional six months if required.

    Ecuador offers permanent resident visas to foreign investors and/or retirees.  The process involves many steps, but is relatively easy.  Getting a residence visa is a normal step in making Ecuador your first and second home.  We recommend that you use an attorney for the process as the visa laws change frequently and you can easily miss required steps or documents.  Our legal partners would be happy to assist you through the process.  Alternatively, there are several services to help you through the process, just be sure to check references.

    Last updated on 6 April 2016.
  • 12. HOW MUCH BANK DEBT DOES LAS OLAS ECUADOR HAVE?
     

    None.

    Last updated on 6 April 2016.
  • 13. WHO OWNS LAS OLAS?
     

    Las Olas is owned by a Private Interest Foundation that includes several investors and is managed by Founding Partners Randy Russ and David Maksymuik.

    Last updated on 6 April 2016.
  • 14. WHO IS THE DESIGNER OF THE LAS OLAS GOLF COURSE?
     

    The designer of the golf course is Golf Course Architect Kris Savignac who spent fifteen years working closely with Pete Dye on designs such as the Ocean Course at Kiawah Island, and he’s recently redesigned a course right here in Ecuador.

    Last updated on 6 April 2016.
  • 15. WHAT IS THE SIGNIFICANCE OF MY RESERVATION AGREEMENT?
     

    The sooner you get your reservation agreement and deposit in, the sooner you can reserve a lot at Las Olas. Your reservation is residence specific, it allows you to choose the lot or condominium unit that best meets your family’s needs or investment strategy.

    Our customer support team will help you identify a lot that best suits your needs.  You can always change the location of your home once you visit Las Olas Ecuador.

    Signing a Reservation Agreement provides:

    - Up to four days of free accommodations

    - $1,000 credit towards your airfare, if you decide to purchase a home

    - Transfers to and from the airport

    - We will also help plan your trip

    Take a look at our Reservation Agreement for more details and benefits.

    Last updated on 6 April 2016.
  • 16. IF THE COMMUNITY IS CARLESS, HOW DO WE GET AROUND?
     

    It is mainly a carless community with electric vehicles and golf carts as the mode of transportation within the community.  However, we recognize there will be a need for a vehicle outside the community from time to time.  Outside the gates near the entrance there will be secure covered parking for those that own cars.  We will also have cars available to rent, should you wish to simply take trips to town or to discover the diverse, rich cultural, and culinary experiences the different regions of Ecuador has to offer.  Las Olas will also have regular shuttle services, free home delivery of groceries and other parcels, and a location in Bahia to drop items that you wish to be delivered to your home.

    Last updated on 6 April 2016.
  • 17. WHAT IS HEALTHCARE LIKE?
     

    North Americans have access to an excellent level of medical care in Ecuador.  In the bigger cities, such as Quito, Cuenca, Manta and Guayaquil, hospitals are equipped with the latest in medical technology and the staff are fully trained with qualified doctors and nurses in all fields.  In fact, many have trained in the US and the UK.  The cost of the average visit to a doctor’s office is in the region of $30, with a visit to a specialist costing a little more at around $45.  This price is considered to be reasonable as Ecuadorian doctors spend on average between 30 and 45 minutes with each patient.  Bahia de Caraquez has a fully staffed hospital located just 15 minutes from Las Olas.  Further, Las Olas plans to have a medical clinic right on site.

    Dental work can be done in Ecuador for between 50% to 80% lower cost than in North America.

    Last updated on 6 April 2016.
  • 18. IS THERE ANY HOMEOWNER ASSOCIATION FEES?
     

    When you purchase a home at Las Olas you automatically become a member of the owners association, for which there are monthly dues. The association establishes and administers rules governing the community and forms an architectural control committee to review building plans for homes that are not pre-approved. Annual dues are used for improvement and maintenance of roads and common areas, administration, security and insurance, among other expenses. Dues will be paid monthly and are expected to be in the $100-$120 range per month.

    Last updated on 6 April 2016.
  • 19. WHAT COMES STANDARD IN THE HOUSE?
     

    At the moment, our special offer includes the following upgrades:

    - Granite or quartz countertops

    - Hardwood kitchen and bathroom cabinets

    - Solar Thermal hot water heater

    - 5kW Solar electric power system

    - Superior quality fixtures and faucets

    - And even your golf family membership (initiation fee) is included!

    Take a look at our Pricing Page to see all the benefits available to you.

    Last updated on 6 April 2016.
  • 20. IS THE POOL INCLUDED?
     

    No, but at the time of construction it will be cheaper to install.  We estimate the cost at time of construction will be between $8,000 to $12,000.

    Last updated on 6 April 2016.
  • 21. WHERE DOES THE WATER COME FROM?
     

    We will have four sources of water to choose from and we are currently finalizing which source to use.

    - Potable water is available from the provinces new pipeline that supplies the surrounding communities which we store in our water tower prior to receiving additional filtration so that it is drinkable right from the tap or from our front aquifer well system.

    - A new water treatment facility that is currently being planned for the City of Bahia and expected to come online in 2017 which has caused us to delay finalization with the province.

    - We also have an aquifer underneath our property and have a wells ranging from 25 to 90 meters deep that will be used to irrigate the golf course but could also be used to supply potable water to Las Olas.

    - Finally, a brand new 4,000 cubic meter per day desalination plant has recently been made available to us and we our currently studying the benefits and costs of this option.

    Last updated on 6 April 2016.
  • 22. WHERE DOES THE POWER COME FROM?
     

    We will be bringing 3-phase power from the Bahia sub-station. We are also supplying 5kv to 7kv solar panels as alternative energy source to make Las Olas a more self-sustainable community.

    Last updated on 6 April 2016.
  • 23. WHAT ARE THE GREEN FEE COSTS?
     

    We have not set the fees as of yet.  However, we anticipate the fees to be approximately $150 a month per family.

    Green fees for guests and residents are expected to be in the $50 range.

    Last updated on 6 April 2016.
  • 24. CAN I PLAY THE COURSE IF I AM NOT A RESIDENT OF LAS OLAS?
     

    No, Ceibo Valley Golf Club is a private golf course for residents of Las Olas Ecuador and guests only.

    Last updated on 6 April 2016.