July 14, 2008
FIMA, Inc. Subsidiary Islandwide Development Corp. Looks to Acquire Real Estate in the Next Great Caribbean Hotspot
HUNTINGTON BEACH, Calif., July 14 /PRNewswire-FirstCall/ -- FIMA, Inc. (Pink Sheets: FIMA), an emerging diversified land development company, announced today that its subsidiary, Islandwide Development Corp. (IDC), has located and is in the process of vetting potential acquisitions in the Samana peninsula of the Dominican Republic. This part of the island has long been famous for sweeping expanses of sandy beaches, crystal clear waters with vibrant coral reefs, and coconut-covered mountains that plunge dramatically into the sea. Listed as one of the 25 best locations in the world by Conde Nast Traveler, the Samana peninsula was once its own island, separated from the mainland by a narrow channel until the late 19th century. As a result, its pristine natural beauty has remained largely immune from large developers, and its spectacular beaches, stunning waterfalls, and breathtaking scenery all retain their allure. With an impressive array of attractions and activities that include snorkeling, scuba diving, whale watching, or sunbathing on one of the many open beaches, the Samana peninsula seems destined to become a prime destination in the Caribbean.
According to a Company spokesperson, "Samana is being touted as one of the next great hotspots for luxury and resort real estate development in the Dominican Republic. Our own extensive research has indicated that this area is one of the world's best-kept secrets in terms of a desirable destination for vacation or living in the Caribbean, with a tremendous combination of spectacular scenery, reliable and highly developed infrastructure, and the tremendous natural beauty that have drawn so many to this part of the world. We are very pleased that our subsidiary IDC has been able to utilize its network of contacts in the region and locate opportunities for FIMA that will ultimately result in enhanced value for our shareholders."About FIMA and Islandwide Development Corp. (IDC):
FIMA's subsidiary Islandwide Development Corp. (IDC) is a real estate management and development company actively involved in luxury villa and resort projects across the Caribbean Community, otherwise known as CARICOM, a free trade agreement that was organized to provide a continued economic linkage between the English-speaking countries of the Caribbean. Operating within the CARICOM Single Market and Economy (CSME), IDC is headquartered in the CARICOM member nation of St. Lucia, an ideal location from which to focus efforts in locating, developing and managing real estate projects across the Caribbean. More importantly, IDC's location is advantageous for any project that is undertaken in the region due to the ability to move capital and resources throughout the region with little or no restrictions.
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