Koyari Residential Project nearby Palm Beach Aruba
Located in Korayi, nearby Palm Beach Aruba, you will find this unique Real Estate Investment opportunity. For those interested in investing in this growing and healthy Caribbean Island called Aruba, this might be the chance to invest.
The project consists of 34 modern, fully equipped residential condos, with a pool area, parking, from 1 to 3 bedrooms. Are you Interested? Contact JZ Realty for more details.
Developer Portfolio
PROJECT PORTFOLIO IN ARUBA
COURTYARD By Marriott Aruba. Total construction of the Restaurant and Canopy (Main Entrance).
BLUE RESIDENCE ARUBA.
Recovery of the panel and total ceiling. Development of a roof maintenance plan.
ISLA BONITA RESIDENCE.
100% executed project.
AZURE RESIDENCE & CLUB.
Supply and placement of roof and ceiling in towers 1, 2, and Club House. Mezzanine in PH, GYM, panel recovery between other.
Why Aruba?
MARKET ANALYSIS
With Aruba being the location of the project, it is important to highlight its properties.
Aruba is an autonomous island country of the Kingdom of the Netherlands — along with Curaçao, Saint Martin and the Netherlands. It is established on the homonymous island of the Leeward group, belonging to the Lesser Antilles. The territory is located 25 km north of the Paraguaná peninsula, northwest of Venezuela, south of the Caribbean Sea, east of the Archipelago of Los Monjes and the Guajira Peninsula and west of another autonomous Dutch country, Curacao, among the warm waters of the Southern Caribbean, outside the strip of the hurricane belt, is Aruba, a happy island, to the south and west, Aruba is full of resorts, shopping centers and nightlife. To the north, waves and wind sculpt the rugged coastlines and limestone crags. And in our heart, Arikok National Park protects an extensive landscape of desert sand, huge cacti and natural wonders.
Until 1986 it was part of the Netherlands Antilles (dissolved in 2010) and is currently not part of the European Union like other European sovereignty territories that share this status, such as Greenland (Denmark) and French Polynesia (France). However, there are other territories outside Europe that are the sovereignty of countries of the European Union, which are an integral part of the European Union, such as French Guyana in South America. Despite this, all Aruban citizens hold a Dutch passport, and therefore Arubans enjoy the same rights as citizens of the European Union.
POPULATION.
According to 2020 estimates, Aruba has a population of 107,195 inhabitants, with a population growth rate of 1.34%.
47% of the total population lives in urban areas, with the capital, Oranjestad, being the most populous city (33,000 inhabitants).
The majority of the population is descended from the Spaniards and Dutch who dominated the island and black population, along with the Arahuacos, who were the natives of the island and who were allowed in grazing and livestock in the time of Dutch domination. Although there are no indigenous Arahuacos today, the ethnic heritage is very visible, being one of the strongest in the Caribbean. Recently, immigrants have arrived from Continental America and the Caribbean islands in search of work. People of 40 different nationalities live together on the island. Multilingualism prevails, where the majority of the population can speak at least four languages (Papiamento, Dutch, Spanish and English). As in the islands of the Netherlands Antilles, the official languages are Papiamento (a mixture of Spanish and Afro-Portuguese) and Dutch, the latter being the language of instruction in schools and of government work.
VISITORS, TOURISM AND ECONOMY.
About 70% of the island’s GDP is supported by the tourism sector and related activities, such as hospitality, gastronomy and recreation, being the largest source of employment for the country’s residents. Another sector driven by tourism activities has been the construction of real estate, as the demand for hotels is five times greater than a couple of decades ago, Aruba has a large and well-developed tourism industry, receiving 1,117,000 tourists who stayed overnight in its territory in 2019. The largest number of tourists comes from North America (mainly the United States), with a market share of 73.3%, in addition to 15.2% from Latin America (mainly Venezuela) and 8.3% from Europe. In 2018 there were 40,231 visitors from the Netherlands. Oranjestad is, in addition to the capital, an important place in the tourist industry, here we find the port for the numerous cruise ships that visit Aruba. The cruise sector is a very important pillar of tourism in Aruba, since during a cruise stop a large part of the passengers go ashore to visit the island. With 334 “cruise calls” Aruba received 815,161 cruise tourists in 2018. According to some sources, the 2017/2018 cruise season contributed $102.8 million to Aruba’s economy.
The following table shows the number of foreign tourists registered in Aruba per year. A tourist is anyone who spends at least one night in the country, but does not live there for more than 12 months. This survey also included the purpose of the trip, filtering business trips and other non-tourism-related travel. In most countries, the number of passengers passing on the same day, for example, ship crew or aircraft crew, is also not considered a tourist target. If the same person comes in and out several times a year, each visit counts again.
The Beautiful Island of Aruba over the years has increased its growth and maintenance of all its infrastructure for better enjoyment and attention to visitors, starting with the Reina Beatrix Airport, which is located in the east of the island, just 4 km from the capital Oranjestad, has an airstrip, capable of operating in two directions, both for takeoff and landing.
This airport receives flights from all over the Caribbean, North America, Central America, South America and much of Europe which lives in continuous renovations, The area of Oranjestad or called locally as “beach” also houses several luxury hotels, several shopping centers, several shopping streets oriented to tourism, including the “Mainstreet”, and hospitality facilities. The main street, called Caya G.F. (Betico) Croes, has been redesigned in recent years, including new pavement, new palm trees and a tram line for tourists, in addition the green corridor Watty Vos Boulevard was built, forming the backbone of the island, starting at the Reina Beatrix Airport, crossing the entire island, reaching the tourist part west side, the project consists of more than one four-lane road around Oranjestad, with 10 roundabouts and two viaducts. The old road from Oranjestad to Noord has also been renovated, as well as a large section of Boulevard/Sasakiweg with which the ring road connects. Along the entire route there are trails for cyclists and pedestrians, encouraging exercise and a good physical and mental health environment, helping for this also the expansion of El Lineal Park that has been extended beyond the low-rise hotels.
There are many luxuries and less luxurious hotels, concentrated mainly on the beaches of the west coast. In Palm Beach are luxury hotels aimed at American tourists. This area is also called “Highrise-area” because most hotels are located in (by Aruban standards) high-rise buildings.
Eagle Beach, a short distance from Palm Beach in the direction of Oranjestad, offers hotels on a somewhat smaller and more intimate scale in low-rise buildings, hence the name “low-rise area”Therefore, studying the available sources of information and making a projection for the second half of the year 2023 (estimated date of inauguration of The Project Residences) the potential of foreign visitors to the Island of Aruba is estimated to be from 1.2 to 1.5 million people. Aruban tour guides offer recreation and leisure activities for the whole family, in addition, they present thousands of discounts to make your stay pleasant, in this paradisiacal island; we can also find the largest national park in the Caribbean that is Arikok National Park, this attraction has a fauna and flora that connects with the landscape, making a perfect harmony, and where you can know the local history of your ancestors.
Aruba seeks to make the experience of its travelers unforgettable, that is why it offers adrenaline lovers the opportunity to practice water sports such as kitesurfing and windsurfing; its gastronomy is a mixture between South America, the Caribbean and Europe with exquisite dishes such as the Glazed Gouda of the Keshi Vena, which promises to be a delicacy to taste, the fastest access to this Caribbean paradise, are the direct flights from North America to Queen Beatrix Airport, Aruba. It is certainly an ideal destination to forget the routine and enjoy the beauty, between adventures at sea, tours with roads through the center of the island and the ‘very’ lively nightclubs, drink the Balashi, the local beer, and other drinks – which usually have rum or tequila in their formulas that they share with tourists.
The climate there is even more privileged since Aruba is off the routes of hurricanes. Therefore, all seasons are favorable for the visit to the island, and between November and December the most likely season is interspersed with rain, which tend to be brief, for moments of intense sun.
ANALYSIS OF DEMAND AND SUPPLY IN ARUBA
DEMAND
Aruba is also known for being a port of call between the United States and the Caribbean, besides that many cruise ships choose Aruba as a port hub during specific seasons. The port is located in Oranjestad, the capital, from where you can walk to the restaurants and shopping area, in 2017 a new increase of tourist arrivals to Aruba through cruises was reached being 815 thousand people, 4.5% higher than the previous year according to FCCA (Florida-Caribbean Cruise Association, 2018).
Continuing with the aspects to be studied, for the demand we will make a comparison of the tourists who arrived to the island in 2019 versus those who arrived in 2018 and previous years, in addition to analyzing where the tourists came from and what they are interested in once they arrive to the island. It is worth noting that most of the Caribbean islands experienced a decline in tourist arrivals in 2020 due to the global pandemic by COVID-19, which still plagues the world and Aruba was no exception, however, we will analyze some indicators of tourist arrivals so far in 2021, to corroborate how the main economic activity of the island “tourism” is recovering.
Residential Condos Koyari Palm Beach Aruba
The building was developed with a vertical distribution to make the most of the available lot, the facades were designed externally with modern micro perforated sheets around the perimeter of the building and vertical circulation modules, as well as several canopy built with micro perforated sheets similar to the facade, which casts a pleasant and modern shade in each case, it also includes a parking space for each unit, of which there are 21 roofed and 13 unroofed.
The interior design was made with a ventilated and open corridor in order to enjoy the breeze and the existing natural light, the architectural intention is that this corridor generates a feeling similar to a bridge that connects all the apartments, the design contemplates two modules of vertical circulation, wide and open stairs that give a lot of clarity and generates a pleasant space day and night, taking advantage of the wonderful climate of this Caribbean island, these vertical circulation modules are located at both ends of the corridor, the function is to assist all apartments equally and a spacious, central, fast and energy efficient elevator to serve the entire building on the two levels where the use of the elevator is necessary. The building includes internal gardens in the circulation areas on the first floor and vertical gardens that decorate and provide freshness to the different areas. It will have social areas, a modern swimming pool with a recreation area, two barbecue areas, a large solarium and landscaping that are distributed throughout the building, all this to give the resident a pleasant and comfortable environment. The services are located in the perimeter area of the complex, all the equipment of the common areas of the building, lighting, pool, barbecue area and elevators are designed to achieve low energy consumption.
