It all started as a dream by Venezuelan President Jaime Lusinchi. With a government-guaranteed credit line of $17,5 million USD from Corpoturismo, the state-owned department overseing tourism, a site was chosen for what was soon to be Venezuela's most exclusive beach club and presidential retreat: A pristine stretch of beachfront, nestled between the Caribbean Ocean and a network of canals and lagoons, with golf and a National Park nearby.

When completed, the dream became Isla de Oro ... for years the personal playground of President Lusinchi and his mistress, Blanca Ibáñez, who kept a penthouse for their own exclusive use.
Joining him there - in more than two hundred privately owned villas and beach condos - were the powerful interests of political, business and financial groups. Future Finance Minister Luis Matos Azócar got an apartment. So did later vice president Jose Vicente Rangel as well as important TV personalities, the country's top generals and military planners, a former governor, senators and congressmen ... all sharing the swimming pool with the close family of international terrorist Ilich Ramirez Sanchez, commonly known as "Carlos the Jackal".

It was the place to be for everyone who mattered. For years, it was the most sought-after real estate in the entire southern Caribbean region; costing twice as much per square foot than the most expensive places in the nation's capital city, Caracas.

But, after the president left office and the politicians fell out of power, the Beach Club fell out of favor. Fewer and fewer of the famous came: A banker here, a TV anchorman there, and occasionally the nephew of Carlos The Jackal. As for the rest, they sold ... A Spanish hotel chain, Melia, took over management for a few years. The German Embassy kept an apartment for its diplomats to use on weekend.

During the Chávez era, most of the units changed hands. The majority of the owners live in Caracas and visit the Beach Club mostly on weekends and holidays, but others come to live -- permanently, seasonally or temporarily -- in its condo units. Owners are full members of the Beach Club and, along with any visitors, have access to all the services and amenities offered by the Club.