HOUSTON, Jan. 5, 2006 (PRIMEZONE) -- Window Rock Capital Holdings, Inc. (Other OTC:WRKC.PK - News), a real estate asset development company, announced that it has negotiated a contract to purchase and develop the old Howard Hughes Plantation in the country of Belize. Window Rock has created a plan to build out the 1,845-acre, Caribbean beachfront property with a fractional ownership program.
Brian Collins, President of Window Rock, stated, ``We have been negotiating this contract for quite some time. It feels good to finish our discussions and move forward with Window Rock's plans in Belize.''
Historically, the property was the Howard Hughes Plantation. It has an adjacent airstrip where Hughes landed his private jet. The property is rectangular in shape, with one mile of coastline and it extends three miles inland. It is eight miles north of Placencia, a city that will provide employees and services. The total acreage includes 700 acres of sub-tropical rainforest, set-aside for eco-tourists. The barrier reefs attract scuba diving enthusiasts from around the world. The property has an incredible beachfront location in the hot spot of the Caribbean and has been appraised for $6.5 million USD.
Charles Shirley, CEO of Window Rock, stated, ``We are excited about Window Rock's opportunity for development in Belize and we believe that the Hughes property will be a profitable one for Window Rock.''