The Company

CEIBA Investments Limited is an international investment and development company that was incorporated in 1995 in Guernsey, Channel Islands, under registration number 30083. The Company is organized under The Companies (Guernsey) Law 2008.

CEIBA is exclusively dedicated to investment in Cuba, with a focus on investment in Cuba’s commercial real estate, tourism and other prioritized sectors of the Cuban economy.  The Company may make any investment primarily related to Cuba, but its primary emphasis is on the development and acquisition of commercial and hotel properties, two major segments of Cuba’s real estate sector. The Company was established in 1995 and is presently one of the largest foreign holders of tourism and commercial real estate assets in Cuba.

The activities of CEIBA are comprised of two principal operating segments: Commercial and Tourism real estate investments. The majority of the Company’s asset base is made up of direct and indirect equity investments in Cuban joint venture companies governed by Law 118 of 2014 on Foreign Investment.

Commercial Real Estate Segment

In the commercial real estate segment, CEIBA owns an interest in Inmobiliaria Monte Barreto S.A., the Cuban joint venture company that owns and operates the Miramar Trade Center, Cuba’s leading mixed–use office and retail real estate complex. The Miramar Trade Center is a 6 building complex comprising 55,530 square metres (approximately 600,000 square feet) of net rentable area located in the heart of the new Havana business district. The Miramar Trade Center is unique in that it has virtually no competition in the international sub–segment of the Cuban commercial real estate market. It is currently one of only two modern commercial office complexes in Cuba, and is the largest by far in terms of net rentable area. In the estimation of management, the complex represents approximately 70% of the total available modern office space in Havana.

Tourism Real Estate Segment

In the tourism real estate segment, CEIBA has indirect interests in Cuban joint venture companies that own four hotel properties: the Meliá Habana Hotel in Havana, and the Meliá Las Americas, the Meliá Varadero and the Sol Palmeras Hotels in Varadero.

The Meliá Habana Hotel is a 397 room 5–star business hotel located on prime ocean–front property in the Miramar business district of Havana, directly across the street from the Miramar Trade Center. The Meliá Las Americas, Meliá Varadero and Sol Palmeras Hotels have an aggregate of 1,437 hotel rooms (international 4 and 5 star category), located on a prime beach–front property of approximately 28 hectares in Varadero, immediately adjacent to Cuba’s only 18 hole golf course, the Varadero Golf Club. The Meliá Habana Hotel and the Varadero Hotels are all managed and operated by the Spanish hotel group Meliá Hotels International, which is the largest international hotel operator in Cuba with 31 hotels presently under management.

In addition to the Meliá Habana Hotel and the Varadero Hotels, CEIBA owns an interest in TosCuba S.A., a Cuban joint venture company that is developing a 400 room 4–star hotel on a 4.9 hectare plot at Playa Maria Aguilar near the City of Trinidad, a UNESCO World Heritage Site located in central Cuba in Sancti Spiritus Province.  It is intended that, following its construction, Meliá Hotels International will also manage the Trinidad property.