(Bloomberg) -- Normalization of U.S. and Cuban ties should include resolution of land ownership claims from exiled citizens to encourage more real estate investment on the island, one property developer said.

London & Regional Properties Ltd. has plans in place for a more than $500 million project with as many as 1,000 homes on the coast east of Havana. Other developers are also eyeing ways to grab a piece of the action in the balmy Caribbean island nation, an appetite that was whetted by the U.S. decision last year to restore relations after more than half a century of acrimony.

“The subject of claims is a much bigger issue that will have to be dealt with at government level as part of the overall reconciliation,” said Ian Livingstone, co-chairman of London & Regional, which is building the Carbonera project. “I don’t think it will be decided on a one-by-one litigation. There will have to be some general ruling.”...



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