Regionally renowned Pellas Development Group (PDG) is behind the highly-rated Mukul, Auberge Resort within the exclusive Guacalito de la Isla Resort, that successfully positioned Nicaragua as the up and coming high-end destination in the region. At the same time, spearheaded the ambitious Santa María Golf & Country Club, an exclusive, trend-setting residential and commercial development in Panama City, anchored by The Santa María, a Luxury Collection Hotel and Golf Resort. Led by PDG, partners in Costa Elena include four of the most influential family offices in the region, the Pellas from Nicaragua, the Durman and Castegnaro families from Costa Rica and the Motta family from Panama.


Guacalito de la Isla

Costa Esmeralda, Nicaragua. Integrally planned low-density Beach Resort on the South Pacific of Nicaragua.

  • 1655 acres reserve with 4 miles of beachfront land Rivas, Nicaragua
  • Master plan for 600 residential units, and up to 200+ hotel units
Guacalito de la Isla Landscape


Mukul (“secret” in Mayan), is the secret of Nicaragua's Costa Esmeralda, which has been revealed and is seen as a new way of offering a variety of experiences in service and hospitality. Each of the 37 guest accommodations offers space and privacy in a style that fully embodies and compliments the natural surroundings. Views of the ocean come standard. Craft furnishings and decorations come straight from Nicaraguan artisans. In Bohios, Beach Villas or in the crown jewel, Casona Don Carlos, make yourself at home.

Costa Esmeralda Airport

A small, international airport serving the southwetern coast of Nicargua's resort communities 365 days per year.

  • 1524 x 30 meter runway at sea level
  • Serving private aircraft and commercial flights
  • Perfect for quick in and out operation with VIP Service
Guacalito de la Isla Landscape

Santa María Golf & Country Club

Panama City, Panama Urban Community.

  • 284 Hectares
  • Located next to Costa del Este, 15 minutes to PTY Airport
  • Contains lots for residential construction, single family homes, garden apartments and condominiums
  • Santa María Business District with 104 commercial lots within an área of 33 Hectares
  • Nicklaus Design 18-hole (par-72) championship golf course and clubhouse


Reputation and success precedes PDG and its partners, who have built the most important and diversified business conglomerates in Central America, with presence in numerous lines of local and international businesses, including rum production and distribution, international airlines, banking and financial services, retail, car dealerships, communications, media and technology, healthcare, agroindustry, energy, transportation, and ports. Together these conglomerates generate thousands of jobs and contribute to the development of the countries where they operate, aware that business success and social commitment are inseparable parts of the same equation.