The majority shareholder of Pearl Island is Dolphin Capital Investors (Dolphin).

Dolphin ( is a leading global investor in the residential resort sector in emerging markets and one of the largest real estate investment companies quoted on AIM in terms of net assets. Dolphin seeks to generate strong capital growth for its shareholders by acquiring large seafront sites of striking natural beauty in the eastern Mediterranean, Caribbean and Latin America and developing sophisticated leisure-integrated residential resorts.

Since its inception in 2005, Dolphin has raised €948 million ($1.3 billion) of equity, has become one of the largest private seafront landowners in Greece and Cyprus and has partnered with some of the world’s most recognised architects, golf course designers and hotel operators.

Dolphin’s portfolio is currently spread over approximately 63 million m2 of prime coastal developable land and comprises 14 large-scale, leisure-integrated residential resorts under development in Greece, Cyprus, Croatia, Turkey, the Dominican Republic and Panama and a 49.8% strategic participation in Aristo Developers Ltd, which is one of the largest holiday home developers in south east Europe with more than 60 smaller holiday home projects in Cyprus.

Dolphin is managed by Dolphin Capital Partners, an independent real estate private equity firm.



Grupo Eleta was founded by Fernando Eleta A., a renowned Panamanian businessman with extensive local and international business experience. Fernando, educated in Stanford and MIT, served as Secretary of Treasury, Minister of Foreign Affairs, founding governor of the Interamerican Development Bank (IDB), diplomat and also throughout his life has been an active entrepreneur and founder of several associations and many civic institutions.

Grupo Eleta employs more than 1,500 individuals and its primary holdings include interests in telecommunications, energy, tourism and real estate ventures The group also has investments in banking, insurance, coffee production and export, thoroughbred racehorse breeding, and animal feed manufacturing.

Guillermo de Saint Malo Eleta is the CEO of Grupo Eleta, a leading family investment group based out of the Republic of Panama. Prior to becoming CEO of Grupo Eleta, Mr. de Saint Malo was the chairman and co-founder of MSA Consulting, Pancarib Export, Net People International, Power Club, and various other companies.

Grupo Eleta, the original owner of Pearl Island, is Dolphin’s joint venture partner. Grupo Eleta is involved in a broad range of activities, telecom and broadcasting, insurance, finance, agro industries, hydro energy and real estate. Mr. de Saint Malo received a Bachelor of Science degree in Business Administration from Clark University in Worcester, MA in 1995.


Grupo Verdeazul was founded 12 years ago in Panama and has been involved in the development and construction of real estate, commercial and hotel projects. Among its signature projects are: Buenaventura, Bristol Panama Hotel, JW Marriot Panama Golf & Resort, Buenaventura Golf Club and Casa Mar. Grupo Verdeazul will contribute towards the development of Pearl Island, with significant experience it has gained, in the luxury real estate market.

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