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what is fractional
what are the benefits?
are fractional ownership and timeshare the same?
how does fractional ownership work?
how does it work in Mozambique?
What happens if I cannot use my ownership?
Is it good value for money?
is my money protected?
do Tartaruga Bay owners own the land?
what are the roads like to Tartaruga Bay?
can I see the legal process for the development?
are there plans to develop housing schemes/Industrial sites nearby?
who are the professionals who work on the estate?
how is Tartaruga Bay involved in the local community?
does the local community support the project?
how close is the community to the project?
does the community have access to the resort?
how are services planned?
does Tartaruga Bay have Insurance cover?
is Tartaruga Bay in a Malaria Area?
are there nearby medical facilities?
are the beaches at Tartaruga Bay resort safe for swimming?
can I launch my boat at the resort?
will there be a place of safekeeping for my boat or kayak?
will there be a facility where I can wash my car or boat?
will there be a scuba diving facility?
is the project approved by the Mozambican Government?
is fractional ownership for me?
how much does it cost?
what are the levies
what do I get?
who will manage the estate?
how does payment work?
how do I invest?
Fractional ownership is a method of co-owning a single valuable asset by more than one individual or entity.
It is a legal entity through which a number of investors become owners of a leisure property.
The costs and usage of the property is shared among the owners in relation to the percentage shareholding.
The owners own the actual property, and therefore control all aspects of the property through a private company.
Owners utilize the property by means of a shareholders’ agreement. For example, an 8% ownership would allow 4 weeks usage per annum
This investment method offers the most favourable and optimal combination of leisure lifestyle, investment, and property ownership, by offering ownership in an high-value, appreciating asset at a fraction of the cost – without the burden of management and maintenance.
Owners own a percentage of the property - an appreciating asset which can be used as collateral, sold or left to others in a will.
More and more people are realizing that the benefits of Fractional Ownership are significant:
No. The only similarity is that more than one party is involved in the property.
The advantages of Fractional Ownership over timeshare are as follows:
The concept is perhaps best demonstrated by way of example:
At present, the state owns all the ground in Mozambique.
There are a two ways to own fractional ownership in Mozambique:
þ the right way:
ý the wrong way
The management company will rent out your ownership through professional service providers to generate income for you.
You can also choose to allow the whole time to be let by the management company. In this way, the investment can be recovered within 7 years - and this while your investment increases substantially. See Growth.
It will work like this:
Note: It is important to keep in mind that only the managing agent employed by the developer may be used for renting out a unit since the Mozambican government have to receive a levy on all rentals (17%) and monitor this closely. The developer will charge a further 13% rental agency administration fee or commission. Thus the rental pool will operate at a 30% commission that will be deducted off the rental income and the balance will be paid out to the owners or shareholders. In addition, a 10% tour operator's fee was included. This will only apply if the owner does not have a paying guest and the management company has to find one through a tour operator.
Absolutely. Here we did some research on exclusive lodges comparable to Tartaruga Bay.
Your money is protected in 4 ways:
No. Land tenure in Mozambique does not take the form of ownership, but of use rights. In Mozambique this is for 50 years renewable for a further 49 years. However, recent legislation and strict adherence to specification allows Tartaruga Bay ownership to be perpetual
The Mozambique Government has also stated in a letter to the IMF that land tenure is currently under review. This is done in order to allow owners to take bonds from banks on their properties for building homes. It is expected that rights holder will pay a small fee to become title holders - a huge future benefit for fractional owners.
The new road to Inhambane is completed. Access to Tartaruga Bay requires a 4x4 vehicle.
No. There may be tourism projects planned for the future that we do not know of, but industrial developments are not on the cards
We assembled a unique combination of skills to create Tartaruga Bay.
Click here to see them
Tartaruga Bay will establish various projects which will primarily support the core development project. These include a bakery, fresh produce, chickens, eggs and fishing. These projects will be managed by resort management to ensure smooth operation, planning and production.
The produce of subprojects will be primarily for project use. Produce not used by the project will be sold on the market.
Yes, the community has been consulted, and they welcomed the project, all meetings held by the community and the developer has been recorded by the Government departments.
The local village is about 2-3 km from the project. Because the community is agricultural, the houses are far from each other.
According to law, the community will have controlled and limited access to the beach using a specific footpath only.
All Tartaruga Bay employees will wear the formal Tartaruga Bay uniform, which will allow them access to the property. Day visitors will be accompanied to the Club house by Tartaruga Bay staff where they can visit for the day.
The resort have a number of coconut trees, some needs harvesting, when the time comes for harvesting, the previous beneficiaries of these trees will be able to harvest under the supervision of the security of Tartaruga Bay, they will also wear the formal Tartaruga Bay uniform.
Service networks are designed and managed to the highest standards.
3 Boreholes will supply the water which will be fed into reservoirs and then be relayed to the different areas in the resort. Boreholes will be tested to ensure that good quality of water goes to the villas. Each villa will be fitted with an osmosis water purification system on one tap in the kitchen of the villa.
A backup generator will ensure electricity for essential items, at all times. Ceiling fans will work in case of power cuts, but air conditioners will not be able to operate during those times.
All buildings and villa contents of the resort will be covered by Insurance. All home owners will be informed of the company used for this. Individual insurance for items of personal nature, like cameras, will not be the responsibility of the resort.
The property will have guards on a 24hour basis in 3 shifts. In addition each villa will have a safe installed for valuables.
Yes. Mozambique is a malaria area and malaria prophylaxis is highly recommended.
Do NOT believe the urban legend that you must not take prophylaxis because the medication masks the symptoms and confuses your doctor. ALWAYS TAKE YOUR PROPHALAXIS.
Tartaruga Bay will conduct its own spray programs and mosquito nets will be available on every bed. Owners will still be responsible for their own mosquito repellants. No candles or mosquito coils will be allowed because of the fire hazard.
There are doctors and a hospital available in Inhambane which is 15kilometrs from Tartaruga Bay. We also have a helipad for emergency evacuations.
Yes. There are no rip tides and there are natural pools in the coral.
Yes. We will provide a launching service for your fishing boat because no vehicles are allowed in the beach.
There are permanent storage facilities available for purchase. If you intend to leave equipment or vehicles in your storage area on a permanent basis, ensure that the import duties are paid.
Yes. The washing area is near permanent storage. We also provide a freezing facility for your catch.
There will be an activity centre which will arrange for your scuba adventure.
Absolutely. Developers who took short cuts with the legal process have had problems in the past. This is not the case with Tartaruga Bay. Approval documentation is available in the Prospectus
If you answer yes to any of the following questions, you are a candidate for Fractional Ownership.
The price you see is what you pay – there are NO valuation fees, bonds costs, VAT etc. These costs could be as much as 15% of the purchase price.
Prices start from $25,600 per one twelfth ownership for cabanas and $43,200 for villas. See pricing
A small transfer fee will be required
Levies are payable with regards to security, services (housekeeping, gardening etc.) management and maintenance of the property. Levies for Tartaruga Bay is R290 per month per one-twelfth ownership
Your purchase amount is held in trust by Kruger and Partners, a highly respect legal firm in Nelspruit who has won numerous awards for trust fund management excellence in South Africa.
Development funds are managed by 4 independent, highly respected Trust Fund Managers who guarantee that funds are used in complete accordance with the Development Plan.
Taxes, admin fees are paid in Mozambique and rental income and travel agency fees are paid in South Africa
Tartaruga Bay will be managed by the Legacy Hotels and resorts which manages over 24 4- and 5 star hotels, bush lodges, leisure resorts and casino resorts in key tourism and business locations throughout Africa and is expanding into the emerging European and Middle Eastern markets.
Shared ownership - not merely time, but the actual building - in a leisure property and appreciating asset, together with:
Click here or on the Direct Callback image and we will phone you.