Karibao City, in Playas, will cost $700 million

Karibao city y Playas, Ecuador

This city will be located 6 kilometers from Engabao (Playas, Ecuador) and will have buildings for apartments, shops, homes and luxury hotels.

Will include between 20 and 30 buildings that will house 10,000 people.

Its main attraction is an artificial lake with crystal clear water that will occupy seven acres and is going to be integrated into the complex.

This project, named Karibao by combining the words Caribbean and Engabao will be delivered in phases and is looking to compete with other Caribbean tourist sites.

Sergio Torassa, Pronobis president, said the marketing  is expected to start in July in which it will be open the Group  internationalization stage, as it will be marketed to buyers in the U.S., Canada, France and Germany.

“Our target are high standard retirees,” said Torassa.

Karibao basic services:

• Hidroplayas, municipal water company, has the capacity to supply it. On the sewer side, it is planned a treatment plant.
• Karibao requires an important energy load that could exceed the capacity of Playas. Therefore, Government support is required to build a substation.
• It is  projected (by CNEL) the construction of a substation in Playas, called Chiva Negra, which can produce 10 megawatts which can meet the demand.”