Monday, 5 September 2016 marked an important milestone for luxury real estate in the Commonwealth of Dominica. The Government signed agreements with three developers. They will join the nation’s Citizenship by Investment Programme pre-approved real estate option.
The three developers are:
The signing ceremony follows months, and sometimes years, of assessment by the Government. The aim is to approve only sustainable projects under the Programme. Projects must also stay in line with Dominica’s ‘nature island’ qualities.
Oriental Developers (Caribbean) Ltd will create Silver Beach Resort and Spa. It is a 200-room, 5-star development in Portsmouth.
Silver Beach Resort and Spa will “represent[…] and showcase[…] the natural attributes of the nature island,” said Mr Lawrence at the signing ceremony. That idea is also reflected in the development’s motto: ‘escape to nature, surrender to luxury.’
Mr Lawrence also noted Oriental Developers (Caribbean) Ltd’s commitment to the community. He announced that a “substantial financial contribution” would be made by the company “to partner with the people of Portsmouth and the Government to construct a community centre” for local Portsmouth communities.
Ay Ay Holdings Caribbean Ltd is tasked with the redevelopment of Jungle Bay. The establishment has a long history on the island of Dominica. It is now moving to a new, larger property. The site overlooks the Atlantic Ocean, the island’s famous ‘Scott’s Head,’ and the town of Soufriere.
Prior to August 2015, Jungle Bay had been voted the 3rd Top Hotel in the Caribbean. It had also won the World Responsible Tourism Award. The new development aims to be even more spectacular. It will provide visitors with:
The new resort will require over 100 staff members. Construction work will provide jobs for 120 workers over three years. Developers plan to open the first 20 suites in December 2018, or early 2019.
Bois Cotlette Estate Inc. is one of the most historical sites in Dominica. It dates to 1735. It contains both coffee and cocoa fields. Today, it already holds direct contracts with nine cruise lines to offer tours to cruise passengers.
The new development will include:
Ground-breaking is expected in March 2017. The new development is due to be operational by June 2019. At least 90 direct and indirect jobs are to be created after the project begins.
Attending the ceremony were:
Minister Tonge highlighted that these developments would increase the number of high-quality rooms. They would also increase employment in management. Staff training and customer service would improve throughout Dominica. He also underlined that the island would attract international brands. Large conferences are expected too.
The Prime Minister emphasised that approval of these three projects under the Citizenship by Investment Programme stands as an example of the Government’s continued effort to create a strong foundation for private sector investment in Dominica. He also said that “the Government has every confidence in the developers to carry through on the terms and conditions of the agreements,” and that he was proud to see citizens become involved with the Programme.
