CEIBA Investments

What CEIBA Investments does

CEIBA Investments Limited is a closed-ended investment company incorporated in Guernsey in 1995 and listed on the Specialist Fund Segment of the London Stock Exchange (ticker: CBA) since 18 October 2018. The company invests exclusively in Cuba's commercial real estate, tourism, and other prioritized sectors of the Cuban economy, and describes itself as one of the largest foreign holders of tourism and commercial real estate assets in the country. Its core product portfolio consists of three real estate assets: the 600,000 square foot Miramar Trade Center in Havana (fully acquired in April 2026), the 607-room Sol Palmeras Hotel in Varadero (32.5% interest), and the 401-room, five-star Meliá Trinidad Peninsula Hotel near Trinidad (32.5% interest, US$79 million total development cost, opened January 2024). Investments are held through Cuban joint venture entities — Miramar S.A. and TosCuba S.A. — with on-the-ground hotel operations managed by Meliá Hotels International S.A.

The company generates income from rental returns at the Miramar Trade Center and from hotel operating performance at its Varadero and Trinidad properties, with the stated objective of providing a regular level of income and capital growth. Its target investor base is restricted to professional, institutional, high-net-worth, and advised-knowledgeable investors; US Persons are structurally excluded from share ownership under US embargo legislation. The company has issued EUR 25 million of 10% senior unsecured convertible bonds due 31 March 2026, listed on The International Stock Exchange (Guernsey). There is no proprietary technology platform; the operating model is a small team (11-50 employees) managing physical assets through Cuban JVs and a single hotel management partner, and communications with shareholders occur primarily via LSE RNS announcements, the corporate website, and broker research (notably Singer Capital Markets).

Operationally, the company faces significant near-term headwinds from US Executive Orders issued 29 January 2026 and 1 May 2026, which expanded sanctions on foreign entities investing in Cuba and contributed to temporary suspension of operations at one of the three Varadero hotels. Counterbalancing this, the company completed full acquisition of Inmobiliaria Monte Barreto S.A. in April 2026 and is pursuing a share issuance authorization of up to 20% new shares to strengthen the balance sheet ahead of the 2026 convertible bond maturity.

Name

CEIBA Investments

Legal name

CEIBA Investments Limited

Website

https://ceibainvest.com/

Company type

Public

Founded year

1995

Operating status

Operating

Headcount range

11–50 employees

Short description

CEIBA Investments Limited is a Guernsey-domiciled closed-ended investment company listed on the LSE (ticker: CBA) that invests exclusively in Cuban commercial real estate and tourism assets, targeting professional and institutional investors who are not US Persons.

Ownership category

akta.pro rank

Product category

Real Estate Investment Fund

NAICS

Other Financial Investment Activities (5239), Miscellaneous Intermediation (52391)

SIC

Real Estate Investment Trusts (6798), Investors, Nec (6799)

akta.pro primary industry

Real Estate Capital Markets Advisory (Debt/Equity Placement, Refinancing) (BPAJANAE)

Keywords

• Cuban real estate investment
• Closed-ended fund
• Commercial property investment
• Hotel investment
• Emerging market fund

Headquarters

HQ city

St. Peter Port

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Real Estate Investment Returns: Revenue generated from investments in Cuban commercial real estate properties, including rental income from the Miramar Trade Center and returns from hotel operations through joint ventures.
2. Tourism Investment Income: Returns from hotel properties through joint venture arrangements including Miramar S.A. (hotels in Varadero and Havana) and TosCuba S.A. (Melia Trinidad Peninsula Hotel). The company aims to provide a regular level of income and capital growth.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

CEIBA Investments Limited is a closed-ended investment company that channels investor capital into Cuba's commercial real estate and tourism sectors. Its portfolio comprises three primary assets: the Miramar Trade Center (a 600,000 sq ft mixed-use commercial complex in Havana), the Sol Palmeras Hotel (a 607-room beach resort in Varadero), and the Meliá Trinidad PenÍnsula Hotel (a 401-room 5-star resort near Trinidad). The company generates returns through rental income, hotel operations via joint ventures, and capital appreciation on its Cuban real estate holdings.

Product overview

CEIBA Investments Limited is a closed-ended investment company incorporated in Guernsey in 1995, exclusively dedicated to investment in Cuba's commercial real estate, tourism, and other prioritized sectors of the Cuban economy. The company operates as a single unified investment vehicle rather than a platform with modules. Its investment portfolio consists of three primary real estate assets: the Miramar Trade Center (a commercial office and retail complex in Havana), the Sol Palmeras Hotel (a beach resort in Varadero), and the Meliá Trinidad Península Hotel (a beach resort near Trinidad). The company holds interests through Cuban joint venture entities and generates income from hotel operations and commercial property rentals.

Differentiator

Problem solved

Functional benefit

Products and services

• Miramar Trade Center Mixed-use commercial real estate project in Havana, Cuba, comprising 600,000 square feet of rentable area. Operated through Inmobiliaria Monte Barreto S.A., which became wholly owned by CEIBA in April 2026.
• Sol Palmeras Hotel 607-room international-category 4-star beach resort hotel in Varadero, Cuba, including 200 bungalows, situated next to Cuba's only 18-hole golf course. Held via Miramar S.A. joint venture in which CEIBA holds a 32.5% interest.
• Meliá Trinidad PenÍnsula Hotel 401-room international 5-star beach resort hotel located near the UNESCO World Heritage town of Trinidad, Cuba, with extensive solar panel and battery pack installations. Total investment approximately $79 million; CEIBA holds a 32.5% share capital interest and $41 million in debt participation under the construction facility via TosCuba S.A.

Quantifiable outcome

• Regular income and capital growth from Cuban real estate investments

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered core.

• Inmobiliaria Monte Barreto S.A.coreStrategic or Co-development Partner · 22 April 2026Cuban commercial real estate venture that operates the Miramar Trade Center. CEIBA acquired full ownership after Cuban government approved the transaction. The share transfer completed on April 22, 2026, funded entirely using Monte Barreto's onshore funds. Negotiations began in March 2017.
• Miramar S.A.coreStrategic or Co-development PartnerJoint venture company that owns three hotels in Varadero and one hotel in Havana. The company temporarily suspended operations at one Varadero hotel due to the US oil blockade impacting tourist arrivals.
• TosCuba S.A.coreStrategic or Co-development PartnerJoint venture company that owns the Melia Trinidad Peninsula Hotel. CEIBA has an interest of US$5.2 million (32.5%) in share capital and US$41 million debt participation under the US$51.5 million construction facility.
• Melia Hotels International S.A.coreChannel Partner/ Reseller/ DistributorStrategic partner managing hotels including the Sol Palmeras Hotel, Melia Trinidad Peninsula Hotel, and Melia Habana Hotel. The hotel management company operates CEIBA's hotel investments.

Scale indicators5 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Vietnam Enterprise Investments Limited: LSE Specialist Fund Segment-listed closed-end investment company investing in a single emerging market (Vietnam). Closest structural analog to CEIBA: closed-end fund, single-country mandate, LSE SFS, similar investor eligibility restrictions.
• Vietnam Infrastructure and Property Investments Ltd: Another LSE SFS-listed single-country closed-end fund focused on property and infrastructure in Vietnam. Highly comparable to CEIBA's structure, listing venue, and emerging-market property mandate.

Broad incumbents

• Templeton Emerging Markets Investment Trust: Large LSE-listed closed-end fund with broad emerging-market equity exposure including property developers. Comparable as a closed-end EM investment vehicle but operates at much larger scale and across many geographies.
• Meliá Hotels International S.A. Global hotel operator that manages CEIBA's Sol Palmeras, Meliá Trinidad Peninsula, and Meliá Habana hotels. Comparable along resort asset type and Caribbean tourism exposure, though Meliá is an operator/owner rather than an investment company.
• Park Hotels & Resorts Inc. Major US hotel REIT with large convention and resort properties including Caribbean exposure. Comparable along resort hotel asset type, though operates at much larger scale and in a public REIT rather than closed-end fund structure.
• Host Hotels & Resorts Inc. Largest US hotel REIT with luxury resort and convention properties, including coastal/Caribbean exposure. Comparable on resort hotel asset class with portfolio diversification, but much larger and broader geographic mandate.
• Pebblebrook Hotel Trust: US hotel REIT focused on urban and resort hotels including coastal properties. Comparable on resort hotel asset exposure; larger, more diversified, and US-listed REIT structure.
• Sunstone Hotel Investors Inc. US hotel REIT with upper-upscale resort and conference properties including international resorts. Comparable along asset class and resort focus; operates with REVPAR-driven hotel portfolio but as a US REIT.
• Xenia Hotels & Resorts Inc. US hotel REIT with luxury and upper-upscale resort and conference properties. Comparable along resort hotel ownership profile and revenue exposure to international tourism flows.

Regional players

• India Capital Growth Fund Limited: LSE-listed single-country closed-end fund investing in Indian listed equities. Comparable along closed-end single-country EM structure and listing venue, though focused on listed equities rather than physical property.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xtwitter.com/CEIBAinvest
• LinkedInlinkedin.com/company/ceiba-investments-limited

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries3 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CEIBA Investments