
Today it was released that Edifice Global Investments has begun investing $1.1 billion into the construction of a resort city on the Magellan coast in the area around the Ritoque sand dunes just 25km north of Valparaiso. The resort city aims to draw holidaymakers from Cape Thetis as currently there are no major short-haul resort destinations for sun, sea and sand from Cape Thetis, which with its booming population sees flocks of tourists travel overseas-year round. As well as this, Costa Ritoque will aim to draw in thousands of tourists from across Magella as the 'mecca of holidays in the Southern Cone.' Representatives from EGI say that the combined populations of Cape Thetis and Magella make up a huge tourist market that has been forced to travel long-haul due to lack of investment in domestic tourism despite suitable weather conditions in central Chile, having the perfect mediterranean climate in the area around Valparaiso and Santiago. This large investment in Magella comes only a few months after EGI announced a $450 million mixed-use development project in Santiago, signalling EGI's hopes for Magella, which the company describes as "the quietly successful and stable country in South America that has huge development potential."
Alitalia says that it will begin daily flights between Santiago and Cape Thetis once demand increases once Costa Ritoque begins to grow. A flight time of only 3 hours is a big improvement over the long-haul flights that Cape Thetis residents have had to make for their holidays. Domestic Magellan airlines will also begin flights from cities within the country for Magellan tourists. It is hoped that the greater interactions between Cape Thetis residents and Magellan's will encourage greater unity and friendship between the territory and Magella as well as greater bilateral trade, business and migration.
Costa Ritoque development plan:
Phase 1: First allocated section of development will be of low-rise holiday villas, condos and resorts.
Phase 2: Medium-rise holiday apartments and hotels.
Phase 3: High-rise holiday apartments, hotels, casinos and leisure district.
Phase 4: low-rise holiday villas, waterpark and shopping park on outskirts.
Phase 5: Low-rise holiday villas and large resorts.
Dunas de Ritoque Wildlife Park: Wildlife park will not be built on and will offer recreational activities such as off-roading, quad-biking and camping.
F-30-E Road Upgrade: Section of F-30-E that will be heavily used will be upgraded from a two-lane to a four-lane road to ease congestion and improve traffic flow.
'Costa Ritoque Masterplan' released by Edifice Global Investments:





















