Fractional Ownership. Duly approved land development by the Commonwealth of Puerto Rico in the beautiful peninsula of “Las Picuas” Rio Grande, on the northeast cost of Puerto Rico. This 6 acres property is bordered on one side by the Atlantic Ocean and on the other a 1000 acres of mangrove forest preserve, only minute away from Wyndham Grand Rio Mar Golf and Beach Resort. It consists of 21 lots with a size range of approximately 800 sq.m. to 2,650 sq.m. each, that are in process of segregation. 3 lots are beachfront. The property has primary and secondary electrical facilities as well as potable water facilities already in operation. Great investment opportunity for developers. The area is ideal for residential and tourist purposes. Multiple beautiful primary residences and second home vacation houses have been built taking advantage of the uniqueness, privacy, and beauty of the site. The property is close to Puerto Rico’s best attractions, including Kite and paddle boarding lessons, snorkeling, golf, zip lining, horseback riding, hiking, ATV’s, bio bay tours and more. Enjoy fine dining at 4 very close by resorts or experience the adventure of the famous food “Kiosk” a row of 30+ local restaurants by Luquillo beach about 3 miles away from "Las Picuas". It is a short 45-60 minutes drive to San Juan airport (SJU) or to visit the history, culture and culinary resources of the old city. Sellers are seeking for investors interested in purchasing the total of the 21 lots. Tax incentives for act 20-22 investors may apply.