corporate brochure 2015 dolphin capital investors ... · eagle pine golf resort dci stake: 50%...

Dolphin Capital InvestorsDeveloping exceptionally high quality resorts with residences in regions of pristine beauty

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Amanzoe Beach Cabana, Greece

inside...

01 A B O U T U S

03 O U R J O U R N E Y S O FA R

04 O U R P O RT F O L I O AT A G L A N C E

page 07core projects08 #1 Amanzoe18 #2 Playa Grande Club & Reserve26 #3 Pearl Island34 #4 Kilada Hills Golf Resort38 #5 Kea Resort

page 42non-core assets44 #6 The Nikki Beach Resort & Spa46 #7 Sitia Bay Golf Resort47 #8 Scorpio Bay Resort #9 Lavender Bay Resort48 #10 Plaka Bay Resort #11 Triopetra49 #12 Eagle Pine Golf Resort #13 Apollo Heights Polo Resort50 #14 Venus Rock Golf Resort52 #15 Livka Bay Resort #16 La Vanta – Mediterra Resorts53 Aristo Developers54 Our partners

5 5 C O R P O R AT E S O C I A L R E S P O N S I B I L I T Y

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We seek to generate strong capital growth and cash returns for our shareholders. We own large seafront sites of striking natural beauty in the eastern Mediterranean, Caribbean and Latin America and develop them into sophisticated leisure-integrated residential resorts, in partnership with some of the world’s most recognised architects, golf course designers and hotel operators.

We are a leading global investor and developer in high-end residential resorts in emerging markets.

Dolphin Capital Investors Limited Corporate Brochure 2015

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has a presence in six countries: Greece, Cyprus, Croatia, Turkey, Panama and the Dominican Republic

is managed by Dolphin Capital Partners, ‘DCP’ or the ’Investment Manager’, an independent real estate private equity firm

is one of the largest private seafront landowners of developable seafront land in Greece and Cyprus

is a strategic investor in Aristo Developers, the largest holiday-home developer in Cyprus, with 49.8% shareholding

has a portfolio that is currently spread over 58 million m² of prime coastal developable land

Dolphin...


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2005JULY Dolphin founded with €5 million of seed capital.DECEMBER Dolphin admitted to trading on AIM, raising €104 million.

2006MARCH Dolphin executes first investment in Greece – Kilada Hills Golf Resort.JUNE Dolphin follows on with first investment in Cyprus – Apollo Heights Polo Resort, and an additional acquisition in Greece – Scorpio Bay Resort.AUGUST Continued investment activity in Greece – Amanmila and Lavender Bay Resort.NOVEMBER Second AIM fundraise of an additional €300 million.NOVEMBER Dolphin completes first acquisition in Crete – Sitia Bay Golf Resort, and partners for a second time in Greece with Aman for Amanzoe at The Porto Heli Collection.

2007JANUARY Dolphin makes first investment in Croatia – Livka Bay Resort.APRIL Dolphin purchases 85% stake in Aristo.JUNE Third AIM fundraise of an additional €450 million.JULY Dolphin invests for the second time in Crete – Plaka Bay Resort.OCTOBER Dolphin acquires Kea Resort, and executes the first investment in Turkey – Mediterra Resorts.DECEMBER Dolphin makes first investment outside eastern Mediterranean – Playa Grande Club & Reserve in the Dominican Republic.

2008JANUARY Minority buy-outs in Livka Bay Resort, and Mediterra Resorts.MARCH €62.7 million invested in the acquisition of prime land in strategic locations in Cyprus, funded 100% by Aristo’s operational cash flow and credit lines.JULY Dolphin makes first investment in Central America – Pearl Island in Panama.

2009APRIL Sale of Amanmila, Milos, Greece and launch of Shares-For-Assets Programme.JUNE Acquired remaining 15% of Aristo.AUGUST Commencement of construction of Amanzoe at Porto Heli, Greece.SEPTEMBER Commencement of construction of the first golf villa at Playa Grande Club & Reserve.OCTOBER Final construction permit for the hotel at Sitia Bay Golf Resort.DECEMBER Sale of 33% of Kea Resort and signing of management agreement with Aman Resorts.

2010MAY Venus Rock Golf Resort obtains permits for two golf courses and related residential reaching 450,000 buildable m2 of real estate.MAY €50 million asset-backed loan facility arranged for Venus Rock Golf Resort.JUNE Management agreement signed with Nikki Beach to operate the hotel at The Porto Heli Collection.

2011FEBRUARY Commencement of construction of the first Aman Villa at Amanzoe. MARCH US$40 million issue of Playa Grande Convertible Bonds.APRIL Works for the construction of the 36-hole golf course commenced at Venus Rock Golf Resort.AUGUST Commencement of construction of the Aman Beach Club at Amanzoe.

2012JANUARY Construction of Pearl Island airport runway begins.MAY Aristo Exchange takes place.JUNE Construction of first golf villa completed at Playa Grande Club & Reserve.AUGUST Amanzoe welcomes its first guests. At opening, five Aman Villas were already sold.SEPTEMBER Dolphin sells a 60% shareholding in Pearl Island’s Founders’ Phase, after having sold over 20 Founder lots.OCTOBER €50 million issue of new Dolphin shares.

2013MARCH Issue of €50 million Bonds and US$9 million Bonds.MARCH Aman Golf Resort groundbreaking ceremony at Playa Grande.MAY Agreement for the sale of Venus Rock is signed.JULY The construction of the first Aman Villas at Amanzoe is completed.OCTOBER Ritz Carlton announces 2016 resort opening at Pearl Island.

2014MARCH Agreement for the sale of Port Kundu is signed.JULY Nikki Beach Resort & Spa at Porto Heli welcomes its first guests.AUGUST Dolphin establishes a strategic relationship with Colony Capital Acquisitions LLC by way of €40.4 million second priority loan facility into Amanzoe.

2015MAY Issue of €75 million of new shares.

Our journey so far...


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C a r i b b e a n S e a

M e d i t e r r a n e a n S e a

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Presence in 6 countries and 3 regionsMEDITERRANEAN, CARIBBEAN AND LATIN AMERICA

58 million m2

LAND UNDER DEVELOPMENT

5 Core ProjectsLARGE-SCALE LEISURE-INTEGRATED RESIDENTIAL RESORTS

4 hotels in the Core Projects 1 OPERATING 1 UNDER CONSTRUCTION 2 PLANNED

2 golf courses in the Core Projects1 FULLY RENOVATED 1 PLANNED

11 Non-core Assets60+ Aristo projects

CORE PROJECTS

NON–CORE ASSETS

#2 PLAYA GRANDE CLUB & RESERVEDCI STAKE: 100%LOCATION: Dominican RepublicAREA SIZE: 839 hectares see page 18

#3 PEARL ISLANDDCI STAKE: 60%LOCATION: Archipelago De Las Perlas, PanamaAREA SIZE: 1,323 hectares see page 26

Our portfolio at a glance


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#1 AMANZOEDCI STAKE: 100%LOCATION: Porto Heli, Greece AREA SIZE: 93 hectares see page 08

#4 KILADA HILLS GOLF RESORTDCI STAKE: 100%LOCATION: Porto Heli, Greece AREA SIZE: 235 hectares see page 34

#5 KEA RESORTDCI STAKE: 67%LOCATION: Cyclades, Greece AREA SIZE: 65 hectares see page 38

#6 THE NIKKI BEACH RESORT & SPADCI STAKE: 25%LOCATION: Porto Heli, Greece AREA SIZE: 1 hectare see page 44

#7 SITIA BAY GOLF RESORTDCI STAKE: 78%LOCATION: Crete, Greece AREA SIZE: 270 hectares see page 46

#8 SCORPIO BAY RESORTDCI STAKE: 100%LOCATION: Viotia, Greece AREA SIZE: 172 hectares see page 47

#9 LAVENDER BAY RESORTDCI STAKE: 100%LOCATION: Magnesia, Greece AREA SIZE: 310 hectares see page 47

#10 PLAKA BAY RESORTDCI STAKE: 100%LOCATION: Crete, Greece AREA SIZE: 442 hectares see page 48

#11 TRIOPETRADCI STAKE: 100%LOCATION: Crete, Greece AREA SIZE: 11 hectares see page 48

#1 2 EAGLE PINE GOLF RESORTDCI STAKE: 50%LOCATION: Cyprus AREA SIZE: 319 hectares see page 49

#13 APOLLO HEIGHTS POLO RESORTDCI STAKE: 100%LOCATION: Cyprus AREA SIZE: 461 hectares see page 49

#14VENUS ROCK GOLF RESORTDCI STAKE: 50%LOCATION: Cyprus AREA SIZE: 737 hectares see page 50

#15 LIVKA BAY RESORTDCI STAKE: 100%LOCATION: Solta, CroatiaAREA SIZE: 63 hectares see page 52

#16 LA VANTA – MEDITERRA RESORTSDCI STAKE: 100%LOCATION: Antalya, TurkeyAREA SIZE: 8 hectares see page 52


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Our PortfolioDolphin has a unique coastal land portfolio of 58 million m2 and 59 kilometers of beachfront, located in 6 countries in the Eastern Mediterranean, the Caribbean and Latin America.

Nikki Beach Resort & Spa, Greece


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Our Core ProjectsThe Core Projects include 5 leisure-integrated residential resorts, which are spread over 2 ,555 hectares of land.

08 #1 Amanzoe18 #2 Playa Grande Club & Reserve26 #3 Pearl Island35 #4 Kilada Hills Golf Resort38 #5 Kea Resort


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World-classCOOL

Views from Amanzoe, Greece


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Set in a land of classical ruins, azure seas and olive groves on the coast of the Peloponnese, Amanzoe offers a contemporary hilltop retreat overlooking the Aegean Sea. Ideally placed for exploring the region’s natural attractions and rich culture, the resort embraces the architecture and soul of ancient Greece.

O U R P O R T F O L I O : C O R E P R O JE C T S

Amanzoe #1Peloponnese, Greece


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Amanzoe #1 continued

DOLPHIN STAKE 100%

AREA SIZE 93 hectares

LOCATION In the area of Porto Heli, also

known as the Greek Riviera Easy access to the cosmopolitan

islands of Spetses and Hydra 0.1 km of coastline

STATUS Opened in August 2012

COMPOSITION 38 pavilions, 4 beach cabanas Private beach club 47 villas planned, 13 villas

sold/reserved, 4 delivered

NEXT STEPS Complete 3 villas and hand over

to their owners in July 2015 Sell villas and improve occupancy

at Amanzoe Build additional beach cabanas Buy additional land for new villas

In the region of Argolida, near Porto Heli (one of the most upmarket, second-home residential areas in Greece), within 2-hours’ drive from Athens International Airport and two hours by ferry from Piraeus Port.


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ATHENS

CORINTH CANAL

MYCENAE

12 hours by ferry from Piraeus Port

The spectacular all-year-round weather conditions and tranquil waters provide ideal conditions for the full range of water sports

Amanzoe’s dramatic hillside setting and unobstructed

sea views provide the perfect base for the 18-hole

championship golf course

The well-preserved ruins of the ancient

city of Mycenae are in close proximity

The dramatic hillside location of Amanzoe offers incomparable opportunities for skiing, mountain biking, hiking, trekkers and horseback riders alike

Amanzoe93 hectares

EPIDAVROS

NAFPLION

PIRAEUS

POROS ISL AND

HYDRA ISL AND

2 hours’ drive from ATHENS INTERNATIONAL AIRPORT


Amanzoe #1 continued

in the land of the gods

PARTNERS

www.amanresorts.com

www.zoniro.com


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HeavenlyRetreats ...in the land of the gods


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Our first completed luxury resort, drawing its name from the Sanskrit- derived word for ‘peace’, ‘aman’, and ‘zoe’, the Greek word for ‘life’. In the realm of Greek luxury resorts lies a contemporary retreat embracing Greece’s rich history and culture. Amanzoe offers travellers an ideal base from which to explore the natural beauty, coastal pleasures and ancient heritage of the Peloponnese region.

HeavenlyRetreats ...in the land of the gods


Amanzoe #1

Amanzoe Villa 15, Greece


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Amanzoe Pavilion, Greece

Amanzoe Central Areas, Greece

Amanzoe Beach Club, Greece

Amanzoe Colonnade, Greece


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A ND R E W H A R P E R G R A ND AWA R D S 2 014January 2014

Special Recognition Awards: HotelBest Pool: AmanzoeR O B B R E P O R T (U S) May 2014

The World’s Top 100 ResortsC O ND E N A S T T R AV E L L E R (U K )June 2014

The Best Spas in the World 2014G A L L I VA N T E R ’ S G U ID EJanuary 2015

Amanzoe voted as the Best Resort in Europe in the 2014 Gallivanter’s Awards for ExcellenceTAT L E R S PA G U ID E 2 01 5 February 2015

The 67 most magnificent spas in the world – Best for Five Star Back Fixer


Amanzoe #1

AMANZOE excellence

Amanzoe Villa, Greece


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Amanzoe #1Press views

World ClassOctober 2014

Heavenly retreats in the land of the gods

May 2014

July 2014

cachet, convenience, prestige...

September 2014

seduction & seclusion

Spectacular viewsSeptember 2014


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July 2014MaxMyInterest.com

ultimate beach vacation:exclusivity, tranquillity, uniqueness

a warm welcome

hellenic heavenMay 2014

May 2014

a modern-day idyll

Luxury homes living with the stars

April 2014

May 2014


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caribbean VIEWSAmanera Casita, Dominican Republic


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Spanning over 11 km of direct coastline with stunning beaches, dramatic 20m cliffs overlooking the Atlantic Ocean, a legendary Robert Trent Jones Snr. designed golf course and an unspoiled nature reserve, Playa Grande Club & Reserve is situated only 1-hour’s drive from two international airports. The project has the capacity for three luxury hotels, including the first Aman resort of the Dominican Republic and over 400 luxury residential units.


Playa Grande Club & Reserve #2Dominican Republic


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Playa Grande Club & Reserve #2 continued

DOLPHIN STAKE 100%


LOCATION Northern coast of the

Dominican Republic, between the towns of Cabrera and Rio San Juan

1 hour drive from 2 international airports

SPECIAL FEATURES The Founders’ phase includes

a 15-room boutique hotel and beach club while all of c. 70 lots have been granted to a New York based group of prominent personalities in the world of finance, media and entertainment

COMPOSITIONPhase I:

40-suite Aman hotel (including 6 two-bedroom villas) and 34 large Aman villas for sale

Future Phases: Approx 350 additional

residential units for sale Additional leisure facilities

(beach club, mountain equestrian club, spa, tennis, trails)

STATUS Aman hotel targeted to open

Q4 2015 4 Aman Founder Villas sold and

one 2-bedroom Villa reserved The back 9 of the golf course

has been completely renovated, and the front 9 is currently under re-construction to be completed in Q4 2015

Situated between the towns of Cabrera and Rio San Juan, each approximately 8 km away. Often referred to as the ‘Pebble Beach of the Caribbean’, it has the only golf course in the western hemisphere with 10 holes running alongside 20m- high cliffs bordering the Atlantic Ocean.


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2

PUERTO PLATA

1-hour drive from PUERTO PLATA

INTERNATIONAL AIRPORT

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Playa Grande Club & Reserve

839 hectares

CABRERA

NAGUA1-hour drive from NAGAU INTERNATIONAL AIRPORT

Over 400 acres of protected nature

reserve, with bird-watching

expeditions and guided nature hikes

Miles of running, hiking, biking and horseback riding trails

Water sports, including boating, surfing, kite-surfing

and windsurfing either on Playa Grande beach, Playa

Navio or nearby Cabarete

Deep-sea fishing for marlin, sailfish, dorado and other big-game fish at Silver Bank

11 km of seafront

Spectacular scuba diving amidst wrecks and corals

RIO SAN JUAN


Playa Grande Club & Reserve #2 Dominican Republic

the heart of the Caribbean

173 acre existing golf

course, designed by renowned

architect Robert Trent Jones, Sr

PARTNERS

www.amanresorts.com

www.harthowerton.com

www.reesjonesinc.com


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With its world-class Robert Trent Jones, Sr. golf course, stunning beaches, verdant mountains, dramatic cliffs and natural preserve, Playa Grande offers residents and guests everything in one perfect location. Created upon the unique topography and spectacular beauty of the site, every component of Playa Grande has been thoughtfully considered, from low-density development and ecological conservation to the allocation of large spaces for communal use.


Playa Grande Club & Reserve #2 THE PEBBLE BEACH OF THE CARIBBEAN

a perfect mix ofsky, earth &water

Amanera Pool Casita, Dominican Republic


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Playa Grande Club & Reserve #2

Mangrove-lined Laguna Gri Gri, with boat rides through the lagoon and picnics on beautiful nearby beaches

Rio San Juan fishing village

Laguna Dudu with blue freshwater holes ideal for swimming

Coastal town of Cabarete for kite-surfing and lively night life

Puerto Plata’s Amber Museum, famed Brugal rum distillery, San Felipe Fort and its charming Victorian town square

Samana Peninsula nature exploration and spectacular humpback whale watching

Daytrip to Santo Domingo, Spain’s first New World city, strolling the magnificent Old Colonial Zone, heritage sites, museums, art galleries, shops and restaurants

observe local life...

Laguna Gri Gri, Rio San Juan, Dominican Republic


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Amanera Casita, Dominican Republic

Playa Grande Golf Course, Dominican Republic

Laguna Gri Gri, Rio San Juan, Dominican Republic

Playa Navio, Dominican Republic


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nature’sparadisePearl Island, Panama


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A private island, approximating the size of St. Barths or Capri, with almost 30 km of coastline and 14 private beaches in the heart of an untouched archipelago of unique biodiversity. Approximately 40 nautical miles from the skyscrapers of Panama City, with at least three luxury 5-star hotels, a marina, more than 1,000 luxury residential units and a private natural reserve comprising more than half of the island.


Pearl Island #3Archipelago de las Perlas, Panama


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Pearl Island #3 continued

DOLPHIN STAKE 60% 60/40 joint venture between DCI and Grupo Eleta

AREA SIZE 1,323 hectares

COMPOSITIONFounders’ Phase (7% of island) – sold

Beach club, spa and other leisure facilities

40-berth and 30 dry-dock marina

Approx. 190 residential units (villas and plots)

Phase I Ritz Carlton Reserve (3% of island):

85-key Ritz Carlton Reserve hotel with beach club

c.122 branded residential units

Other Phases (90% of island): Development potential for

over 425,000 m2 of buildable residential space or c. 945 residential units and lots for sale

Up to 4 additional luxury hotels Marina with up to 500 berths

and retail facilities Recreational and sports

facilities International airport

COMPLETED TO DATEOwned by joint venture or Founders’ Phase, depending on location

Basic infrastructure works in place including 26 km of roads

Irrigation/drainage/erosion control systems in place

Beach club is operational, marina with 40 berths (Founders’ Phase)

Owned by joint venture Modular utilities

(water and electricity) and workers’ housing

Airstrip runway of 1 km Service pier in advanced

stages of construction

Set in the Archipelago de las Perlas, this private island is to become one of the first exclusive integrated ecological island residential resorts in the region. 70% of the island is retained as a natural reserve park, with a unique ecosystem, marine & bird sanctuary, and a natural harbour, which will become one of the largest marinas in Central America.


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Pearl Island1,323 hectares

ISL A DEL RE Y

ISL A VIVEROS

ISL A SAN JOSÉ

FROM PANAMA PACIFIC INTERNATIONAL AIRPORT

By plane: 20 minsHelicopter: 20 mins

42 NAUTICAL MILES FROM PANAMA CITYHigh speed water craft: 1 hrBy boat: 1.5 hrs

15 minutes by boat from Isla del Rey

The ocean waters of Panama are home to five species of whale and serve as a rendezvous region for families of humpback whales during the majority of the year, that move between Mexico and Panama

Pearl Island’s virgin tropical forest, its lagoons, rivers and tiny offshore islets are home

to 16 species of mammals, and 20 species of lizards and

amphibians. It also boasts the world’s most treasured bird

sanctuaries which nurture over 150 species

There are many diving sites around Pearl Island where

diving lovers can experience a

diversity of fish and mammals,

including dolphins

The Founders’ Marina on the west side of the peninsula will offer 40 berths for yachting enthusiasts


Pearl Island #3 Archipelago de las Perlas, Panama

a world all of its own

PARTNERS

www.ritzcarlton.com

www.harthowerton.com

www.zoniro.com

www.denniston.com.my


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luxurious island living at its very best

Ritz Carlton Reserva, Pearl Island, Panama


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Creating an authentic private island destination requires a particular respect for nature and heritage. Only a few miles off-shore south of Panama City, Pearl Island breaks new ground, environmentally, economically and socially, for the region. It is a wildlife reserve all of its own, resting in the serenity of a unique and dynamic ecosystem.


Pearl Island #3 A PRIVATE ISLAND EXPERIENCE

luxurious island living at its very best


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View from Marina Village, Panama

Pearl Island Marina, Panama

Don Bernardo Beach, Panama

Pearl Island Founders’ Phase Beach Club, Panama


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Pearl Island #3

With an existing population of only 150 inhabitants in the small village of Pedro de Cocal, it embraces a rich biological diversity as well as its own cultural legacy, recently discovered to be dating back over 5,000 years.

To preserve and protect this boundless natural biodiversity, over 75% of Pearl Island will remain undeveloped.

A percentage of all property sales are dedicated to the establishment of The Island Foundation, a not-for-profit organisation that will be stewarded by the island’s property owners.

waiting to be discovered...

Pearl Island Founders’ Phase Beach Club, Panama


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understatedpure luxury

View from Kilada Hills Golf Resort, Greece


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Kilada Hills’ dramatic panoramic location is as unique as the striking natural beauty of the region itself. A well-kept secret for those in the know, the area surrounding Kilada is the perfect setting for a wide variety of sea adventures, fishing, island hopping and, of course, sightseeing, with an impressive array of archaeological sites as well as the cosmopolitan islands of Spetses and Hydra just a stone’s throw away.


Kilada Hills Golf Resort #4Peloponnese, Greece


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Kilada Hills Golf Resort #4continued

Kilada Hills Golf Resort is a few minutes’ drive from Amanzoe. The resort will include a luxury hotel with 40 Club Suites, and an 18-hole championship golf course, designed by Jack Nicklaus.

DOLPHIN STAKE 100%

AREA SIZE 235 hectares 0.1 km coastline

COMPOSITIONPhase I – Golf course

18-hole Jack Nicklaus Signature Golf Course (operation expected to initiate in 2018, assuming funding is secured in 2016)

Golf clubhouse, c. 260 golf residences

Beach Club

Other Phases 100 hillside residences 100-room hotel and c. 88

branded villas and residences Beach Club expansion

STATUS Current permits in place to allow

commencement of the Golf phase construction, as soon as funding is secured

One of the first projects in Greece to receive ‘Strategic Investment’ status, which gives significant permitting advantages and removes the requirement of building a hotel

The ‘Strategic Development’ final permits are pending and depend on the issuance of a Presidential Decree which, after its recent approval by the Council of State, is expected during 2015


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2 hours’ drive from ATHENS INTERNATIONAL AIRPORT

2 hours by ferry from Piraeus Port

ATHENS

PIRAEUS

MYCENAE

The well-preserved ruins of the ancient city of Mycenae are in close proximity

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Kilada Hills Golf Resort235 hectares 4


Kilada Hills Golf Resort #4Porto Heli, Greece

PARTNERS

www.nicklaus.com

www.denniston.com.my

www.ghmhotels.com

nestled amidst the olive trees...

Kilada Hills Beach, Greece

Kilada Hills Golf Resort, Hotel Pavilion, Greece


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Amphitheatric viewsKea Resort Views, Greece


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Surrounded by dramatic sea views and a spectacular sandy beach offering a natural harbour and a safe shelter from the Aegean wind, Kea Resort is on the island of Tzia (Kea), the closest Cycladic island to Athens.


Kea Resort #5Tzia, Greece


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Kea Resort #5continued

Kea Resort is a 15-minute drive from Athens International Airport to Lavrio Harbour, followed by a 30-minute boat ride.

DOLPHIN STAKE 67%

AREA SIZE 65 hectares circa. 1 km of coastline

COMPOSITION A 30-pavilion Aman luxury

hotel (operation expected to initiate in 2018, assuming funding is secured in 2016)

6 Aman Suites and 29 villas

STATUS In April 2015 the project received

all necessary approvals through the Construction Permit

PROJECT PARTNERS Existing management agreement

is with Aman Resorts. DCI is currently in discussions with a joint venture partner, and operator might change, subject to reaching a formal agreement


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15-minute drive from ATHENS INTERNATIONAL AIRPORT to Lavrio Harbour

L AVRIO HARBOUR

Kea Resort65 hectares

A unique destination for diving enthusiasts

5

30 minutes by boat from Lavrio Harbour

5

At the southeast end of the island, lies the remains of the ancient, deserted city of Karthaia

PARTNERS

www.amanresorts.com


Kea Resort #5Kea, Greece

a safe shelter...

Kea Resort Beach, Greece

View from the Main Lodge at Kea Resort, Greece


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Our Non-Core AssetsThe Non-Core Assets include 10 leisure-integrated residential resort projects, which are spread over 1,756 hectares of land.

44 #6 Nikki Beach46 #7 Sitia Bay Golf Resort47 #8 Scorpio Bay Resort #9 Lavender Bay Resort48 #10 Plaka Bay Resort #1 1 Triopetra49 #12 Eagle Pine Golf Resort #13 Apollo Heights Polo Resort50 #14 Venus Rock52 #15 Livka Bay Resort #16 La Vanta – Mediterra Resorts53 Aristo Developers

42 Dolphin Capital Investors Limited Corporate Brochure 2015

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Greece Greece offers to the discerning traveller not only luxury and stunning landscapes, but also adventure, serenity, culinary experiences, a bustling nightlife and a number of outdoor activities. Tourism accounts for 18% of GDP, and is poised for growth as a number of high-end international brands are developing properties in the market. Turkey

Turkey’s archaeological and cultural wonders, and its lush and twirling Mediterranean coastline, are a Mecca for tourists, attracting millions of European holidaymakers each year. From hikers and adventurers, to yachters and history enthusiasts, Turkey can cater to anyone.

CyprusCyprus is a deeply enjoyable holiday island that boasts myriad charms year round. The rich history of the island can be traced back 10,000 years and, as a destination, Cyprus is not only about attractive and impressively clean beaches, but offers skiing, hiking and several other outdoor activities, always combined with a unique culinary experience.

CroatiaWith a spectacular coastline that stretches across the Adriatic, more than 1,000 offshore islands, dozens of medieval towns and villages, Croatia’s appeal is obvious. A haven for yachters and sun worshippers alike, Croatia is quickly emerging as an adventure and gastronomy destination to boot.

O U R P O R T F O L I O : N O N- C O R E A S S E T S

the best of the rest


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20best hotelsin Greece

May 2015


Nikki Beach Resort & Spa #6Peloponnese, Greece

Contemporary, refined and elegant, this lifestyle urban resort is where those ‘in the know’ aspire to be. The resort’s ideal beachfront location allows guests to enjoy the crystal clear cobalt blue waters and dramatic panoramic views from almost every corner of the property.

DOLPHIN STAKE 25%

AREA SIZE 1 hectare

LOCATION Porto Heli, Greece

STATUS Opened in July 2014

COMPOSITION The Nikki Beach Resort & Spa

at Porto Heli includes hotel suites as well as apartments for sale

Opened its doors on 28 July 2014 66 luxurious rooms & suites The only seafront hotel in

central Porto Heli Exclusive state of the art

beachfront venue offering direct views of the Aegean Sea


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uniqueness & natural beauty...

August 2014 101best hotels

Travel guide 2015

ultrachicSeptember 2014

late summer sun August 2014

the new RivieraA modern-day idyll

Infinity Pool at Nikki Beach Resort & Spa, Greece


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DOLPHIN STAKE 78%

AREA SIZE 270 hectares 2.5 km of seafront

LOCATION The island of Crete

ACCESS A 10-minute drive from Sitia International Airport, a 1.5-hour drive east from Heraklion International Airport and a 15-minute drive from Sitia Harbour

SPECIAL FEATURES A secluded peninsula of unspoilt natural beauty on the largest of the Greek islands and the most popular Greek tourist destination with 3 million visitors in 2011

COMPOSITION Over 120,000m2 of buildable

residential units A 200-room Waldorf Astoria resort A convention centre An 18-hole championship

golf course A golf clubhouse A 32-berth marina A beach and country club

and other leisure facilities

DESIGN Masterplan and hotel design by WATG. Nicklaus Design has been appointed as the golf course architect


Sitia Bay Golf Resort #7 Crete, Greece


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Lavender Bay Resort #9Magnesia, Greece

DOLPHIN STAKE 100%

AREA SIZE 172 hectares Approximately

2 km of seafront

LOCATION Skorponeri, Viotia region, making this probably the closest luxury seaside residential resort to Athens

ACCESS A 1-hour drive from Athens International Airport

SPECIAL FEATURESA mountainous peninsula of unspoilt natural beauty overlooking a secluded bay and the island of Evoia, and within a 1-hour drive from the ski resort of Mount Parnassus

COMPOSITION Luxury Oberoi operated hotel and full service spa, integrated with a residential development and sea- related leisure facilities

DESIGN Hotel and villa designed by Heah & Co, led by John Heah

DOLPHIN STAKE 100%

AREA SIZE 310 hectares 2 km of seafront

LOCATION Near the town of Volos, in the region of Thessalia, at the mouth of Pagasitikos Gulf

ACCESS Approximately 2.5-hours’ drive from both Athens and Thessaloniki International Airports, also 20-minute drive from new Aghialos International Airport

SPECIAL FEATURES Unspoilt, undulating hills fronted by a 2 km beach and surrounded by forest

COMPOSITION A 180-room Kempinski

operated hotel More than 220 branded

residential units More than 390 non-

branded residential units An 18-hole Gary Player

Signature golf course Beach club and other

leisure facilities

DESIGN Masterplan by EDSA, golf design by Gary Player and hotel and residences design by Chad Oppenheim (Oppenoffice)


Scorpio Bay Resort #8Viotia, Greece


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Triopetra #11Crete, Greece

DOLPHIN STAKE 100%


LOCATION The island of Crete

ACCESS A 40-minute drive east from Sitia International Airport, a 2-hour drive east from Heraklion International Airport and in close proximity to Sitia Harbour

SPECIAL FEATURES Easternmost point of Crete

COMPOSITION A residential development

of over 70,000m2

One or more 5-star hotels

Other supporting recreational facilities and potentially an 18-hole golf course

DESIGN Masterplan prepared by Hart Howerton

DOLPHIN STAKE 100%

AREA SIZE 11 hectares 280m façade along

a scenic beach

LOCATION On the southern side of Rethymno Prefecture, Crete

ACCESS Approximately 54 km from Rethymno, the Prefecture’s capital and main port. The international airports of Heraklion and Chania fall within a distance of approximately 104 km and 124 km, respectively

SPECIAL FEATURES Dramatic sea views and a spectacular sandy beach

COMPOSITION A 60-room luxury 5-star

hotel with restaurant, retail, spa and fitness, watersports, outdoor activities and nature treks

Approximately 8,870m2 of residential buildable non-branded villas

DESIGN Permit design prepared by Aristo Developers’ Architectural team


Plaka Bay Resort #10Crete, Greece


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Apollo Heights Polo Resort #13Cyprus

DOLPHIN STAKE 49.8%


LOCATION Inland, with stunning sea views, overlooking the Episkopi and Akrotiri regions near Limassol

ACCESS Less than 1-hour’s drive from both of the island’s international airports

SPECIAL FEATURES A few kilometres from Apollo Heights Polo Resort and a 15-minute drive from Venus Rock Golf Resort

COMPOSITION Golf facilities and a residential development component of up to 150,000m2 of residential units

DESIGN Masterplanning by EDSA, golf design by Graham Marsh in association with Hans-Georg Erhardt, resort design by Porphyrios & Associates

DOLPHIN STAKE 100%


LOCATION Near the town of Limassol

ACCESS Less than 1-hour’s drive from both of the island’s international airports

SPECIAL FEATURES With excellent views of the sea, the mountains and neighbouring villages, the site also lies adjacent to a number of polo fields and an 18-hole golf course, and is 500m away from the beach

COMPOSITION Hotel facilities Residential units Polo fields 18-hole golf course

DESIGN Masterplan by EDSA and golf course design by Tony Jacklin Design


Eagle Pine Golf Resort #12 Cyprus


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Venus Rock Golf Resort #14Cyprus

Europe’s largest residential beachfront resort development and Cyprus’ most significant golf resort area, set between the towns of Limassol and Paphos, next to Aphrodite Hills. Located 10 minutes from Paphos International Airport and 1-hour from Larnaca International Airport.

DOLPHIN STAKE 50%


LOCATION Cyprus

COMPOSITIONFirst Phase

Two 18-hole golf courses designed by Tony Jacklin, the first operating since summer 2013

Two golf clubhouses A Nikki Beach Club Commercial beachfront facilities Approximately 1,500 apartments

and villas and 250 plots

Other Phases c.1,000 residential units Retail and leisure facilities A 5-star hotel with spa and

branded villas operated by Nikki Beach

Marina and other sports facilities

DESIGN A truly integrated residential resort, masterplanned by EDSA. The golf clubhouse and commercial facilities have been designed by Robert AM Stern, who also designed the first phase of multi-family residential units and established the architectural guidelines for custom-built units

Venus Rock Golf Resort, Cyprus


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The birthplace of a newluxury

GOLF DESIGN BY TONY JACKLINTony Jacklin, four times Ryder Cup captain, winner of the British Open and US Open, has personally helped design the two courses at Venus Rock, influencing every aspect, from the placement of the trees, to the shaping of the fairways and positions of the bunkers. The new courses will be designed to complement the natural characteristics of the area to make the most of the secluded valley setting with views over to the Mediterranean.


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La Vanta – Mediterra Resorts #16 Antalya, Turkey

DOLPHIN STAKE 100%


LOCATION The bay of Livka on the south end of the island of Solta, off the Dalmatian Coast

ACCESS 20 km boat ride from Split International Airport

SPECIAL FEATURES One of the first luxury residential resorts on the Dalmatian coast

COMPOSITION Luxury hotel with

130 rooms and suites Approximately 200

private, serviced residences

120-berth marina Other supporting

recreational,sports and retail facilities

DESIGN WATG

¿www.livkabay.com

DOLPHIN STAKE 100%


LOCATION The Antalya region of southern Turkey

ACCESS A 1.5-hour drive from Dalaman International Airport

SPECIAL FEATURES La Vanta development

is very close to the well-known beaches of Kaputas and Patara and within walking distance of Kalkan beach

5-minute drive to the beach

COMPOSITIONLa Vanta is a development of over 25,000m2, comprising over 120 villas and townhouses. Phase 1 was completed in 2009 with 41 units already delivered. Phase 2 is currently under construction

DESIGN Cemal Mutlu & Xavier Bohl

¿www.mediterraresorts.com


Livka Bay Resort #15 Solta, Croatia


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2


Aristo DevelopersCyprus

DCI has a strategic participation of 49.8% in Aristo Developers. Founded in 1983, Aristo is the leading residential developer in Cyprus.

Large private landowner and one of the largest holiday home developers in Cyprus

29 years of development expertise and market knowledge

Over 3,000 holiday homes sold since 2004 Diversified portfolio Over 250 projects island wide and

50 projects currently in the market Member of the FIABCI International

Real Estate Federation & the EU Eco-Management & Audit Scheme (EMAS)

Extensive international sales network Assets of €903 million* Liabilities of €456 million, LTV of 33.7%

¿www.aristodevelopers.com

#1 ROSEMARY RESIDENCES

#2 SEA CAVES RESIDENCES


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The Amanzoe at Porto Heli The Aman at Playa Grande Kea Resort ¿ www.amanresorts.com

Design: The Amanzoe at Porto Heli

The Amanzoe at Porto Heli ¿ www.ghmhotels.com

Design: The Chedi (GHM)

at Amanzoe ¿ www.denniston.com.my

Lavender Bay Resort ¿ www.kempinski.com

Masterplan and design: Pearl Island Playa Grande Club

& Reserve Plaka Bay Resort ¿ www.harthowerton.com

The Nikki Beach Resort & Spa at Porto Heli

Venus Rock Golf Resort ¿ www.nikkibeachhotels.com

Scorpio Bay Resort ¿ www.oberoihotels.com

Masterplan: Eagle Pine Golf Resort Apollo Heights Polo Resort ¿ www.edsaplan.com

Sitia Bay Golf Resort ¿ www.waldorfastoria.com

Design: Kea Resort ¿ The Oberoi at

Scorpio Bay Resort

Pearl Island ¿ www.ritzcarlton.com

Architectural guidelines and design of:

Elements in Venus Rock Golf Resort

¿ www.ramsa.com

Signature Golf Course Design: The Amanzoe at Porto Heli ¿ www.nicklaus.com

Joint venture partner: The Amanzoe at Porto Heli ¿ www.archimedia.com

Joint venture partner: Pearl Island Resort

Golf Course Design: Sitia Bay Golf Resort ¿ www.nicklaus.com

Golf Course Design: Venus Rock Golf Resort Apollo Heights Polo Resort ¿ www.tonyjacklin.com

Golf Course Design: Venus Rock Golf Resort ¿ www.gmgd.com.au

Golf course renovation: Playa Grande Club & Reserve ¿ www.reesjonesinc.com

Golf course design: Lavender Bay Resort ¿ www.garyplayer.com

Golf course design: Apollo Heights Polo Resort ¿ www.golf-land-design.com

Design: The Waldorf Astoria

in Sitia Bay Golf Resort The hotel in Livka

Bay Resort ¿ www.watg.com

Design: The Kempinski at

Lavender Bay Resort ¿ www.oppenoffice.com

Hotel operators Architects Golf course design Project partners

PORPHYRIOSA S S O C I A T E S

cmM � M A R L I Kwww.cemalmutlu.com

Design: La Vanta Resort ¿ www.cemalmutlu.com

Design: Port Kundu Resort ¿ www.xavierbohl.com

Resort design: Eagle Pine Golf Resort ¿ www.porphyrios.co.uk

O U R P O R T F O L I O : O U R PA R T NE R S

Working together...We partner with some of the world’s most recognised hotel operators, architects and golf operators for the creation of sophisticated leisure integrated residential resorts in emerging markets. On a project by project basis, Dolphin has joint ventured with leading local or international operating and investment partners.

Partner: Sitia Bay Golf Resort


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We support communitiesCorporate social responsibility (‘CSR’) is embedded in Dolphin’s culture. As such, Dolphin and its Investment Manager consider it their responsibility to mindfully coexist with, and support, the societies and environments where we invest.

D O L P H I N C A P I TA L F O U N D AT I O N

Dolphin Capital Foundation (‘DCF’) is a non-profit charitable entity set up on 12 December 2007, dedicated to helping the surrounding regional communities and the natural environments where Dolphin invests, by donating to various charitable endeavours.


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The Pearl Island Foundation continues to support a mobile healthcare programme in co-ordination with the Ministry of Health. The programme aims to provide the population with access to healthcare and sanitation.

The Playa Grande project, through the Playa Grande Foundation, continues developing programmes aimed at the sustainable development of the surrounding communities.

PEARL ISLANDThe Pearl Island Foundation (the ‘Foundation’), in co-ordination with the regional NGOs and the local community, continues to invest in programmes designed to protect the environment and enhance the local economic and social development of the community at Pearl Island in order to make a significant difference in the lives of the local population. The Foundation seeks to strike a balance between social, economic and environmental development and cultural traditions. 2014 was marked by several milestones in four main themes:

1. Community Relations: Continued developing and executing a strategy to strengthen our relationship with the community. The main goals are to strengthen the social structure and local government, to improve communication and information amongst the community, and to maintain the public infrastructure. To achieve these goals, the Foundation has offered seminars on issues related to peaceful conflict resolution, leadership, teamwork, and community planning and administration. It also offered training in power plant maintenance and started a project for a local newspaper.

2. Education, Culture and Sports: Undertook efforts to improve the standard of local education, investing in the lives of the next generation. In 2014, the programme instituted a new Bachelor Degree in Tourism (grades 10th through 12th) and developed new pavilions to attend to this new group of students. The programme has been designed and developed with the approval and oversight of Panama’s Ministry of Education. In addition, the Foundation remodelled a building for a new Community Development Center.

3. Health and Environment: Promoted the building of environmental and cultural conscience and helped improve access to basic services such as health, sanitation and clean water which is a constant challenge with the local population often unable to travel to hospitals for medical care. In 2014 the Foundation developed a project for solid waste management, continued building sidewalks, and improved the sewage system as well as potable water plant. It also continued supporting a mobile healthcare programme in co-ordination with the Ministry of Health. The programme aims to provide the population with access to healthcare and sanitation.

4. Economic Development: Teamed up with INADEH (National Institute for Vocational Training and Human Development) to provide the community with basic training and marketable skills in vocations such as retailing skills and dress making, that to prepare the community for tourism and hospitality employment and provide a measure of independence and economic empowerment.

THE PLAYA GRANDE PROJECTThe Playa Grande project continues developing programmes aimed at the sustainable development of the surrounding communities in its area of influence in the north coast of the Dominican Republic. The focus for this year has been placed on the areas of education and culture with the pursuit of the following key initiatives:

1. A pre-school for over 30 local children in the town of Abreu. The Playa Grande project finances the pre-school programme and runs it in partnership with the Dream Project Foundation.

2. The continued financing of a reading enhancement programmes, in the elementary public school in the town of Abreu, in partnership with the Dream Project Foundation.

3. Sponsorship of surfing competitions and an annual 10k run for regional athletes.

4. Principal sponsor and organising committee member of the Rio San Juan carnival, the main annual cultural event in the region, with its artisanal mask, costume and carnival troupe competitions. The Rio San Juan carnival has developed into a unique cultural event, with all participants integrating a marine theme to their costumes.

5. At the same time, the Foundation has been working to establish a community clinic, which will provide free health coverage to the local community. Efforts are undertaken to create ties with world-renowned hospitals and universities, ensuring that the community clinic covers all primary care needs of the community.

making a difference


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Designed and produced by Boone Designwww.boonedesign.com

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D O L P H I N C A P I TA L I N V E S T O R S L I M I T E D

VA N T E R P O O L P L A Z A , 2 N D F L O O R , W I C K H A M S C AY 1 , R O A D T O W N , T O R T O L A , B R I T I S H V I R G I N I S L A N D S

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