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New Hotel Project Coming to Antigua

July 15th, 2014 | Tags: Antigua & Barbuda hotel housing project
Above: the agreement’s signing in Antigua (Photo: ABG)
By the Caribbean Journal staff

Antigua and Barbuda’s government has signed a memorandum of understanding on a new hotel and housing project.

The MOU is a “statement of the mutual intent and desire of the Parties,” the government said in a statement.

The project will include a hotel and a “high-priced housing construction project,” both of which will begin construction in less than 18 months, the government said.

Antigua and Barbuda Prime Minister Gaston Browne signed the MoU with a pair of St Kitts and Nevis companies called Technology, Development & Investment, Ltd and Devcon, Ltd.

The latter is a regional construction company with a location in St Kitts.

Vitaly Kryuchkov signed on behalf of the firms.

The agreement is the second high-profile project to come on stream since Browne’s Antigua Labour Party won the country’s June elections, including a more than $740 million project signed with a Chinese investor.

The government did not reveal further details on the companies or the size of the project.

5 Responses to “New Hotel Project Coming to Antigua ”

  • Only BVI (15/07/2014, 18:04) Like (1) Dislike (1) Reply
    Antigua has so many high class hotels including St. James Club and Sandals. BVI has Prospect? Why is the BVI so far behind? Come on NDP please invite investors in this country. The kind of investment it will take to inject a noticeable boost in the economy, cannot be done locally alone. People be sensible.
  • Valdimir Putin (16/07/2014, 09:50) Like (0) Dislike (1) Reply
    So this is where that "investor" citizenship comes into play! Wealthy (and not-so-wealthy) individuals now have a foot in the door and access to Caribbean countries all in the name of capitalism. Some of these same "investors" have some suspect revenue streams and businesses. The Russians, Chinese and certain African statesmen have now set their sights on our easily corruptible politicians. As for Antigua; there are plenty of resorts and hotels that there is no shortage of rooms. I note that there is no AFFORDABLE housing development derived from this project for the locals, no concessions (road infrastructure improvements to the site/development, school proposed, library etc.) - just more low paying jobs.
    • So (16/07/2014, 11:18) Like (5) Dislike (0) Reply

      So what are you going to do about it? Sit and complain like a cramping That's the problem. The infrastructure you talk about should be dealt with by your Government not an investor. Yes, they should be required to contribute as part of being allowed into your country. But be real, investors do business and businesses operate to make a PROFIT! They are in this to make money. It's up to the people of the country to position themselves to make the best of the opportunities. If our Government wasn't busy paving everybody's road, building back walls, giving out contracts that PWD, who are already being paid, can well complete, instead of paying garbage trucks over $1mil let solid waste do their jobs, instead of giving unqualified persons hundred thousand contracts to do f..kry, then we would have library, roads, schools etc. If we loved our country we would have all those things. But the word country and love is only spoken when we come to playing politics. Think about it. Stop making investors out to be villains! They are in business to put in money, to make more money. It's up to us how we benefit from the equation. It's so sad how VIP has dumbed down this country with the Invaders bulls..t. People shouting they want money, they want this, they want that, but shout down everything that is put forward to bring in revenues. Financial Services will NOT hold the strain by itself for much longer so let's keep playing games. We will end up a new experiment under IMF and World Bank if we continue to let ignorance take over this country. If you think investors are bad, go on your knees to IMF or world Bank and you may get a mouth full and it ain't west Indian cousine I'm talking about!

  • home grown (17/07/2014, 16:22) Like (4) Dislike (1) Reply
    Its our own people dont want to see investers come and develop
    yet when they go some where else them a ball bout it coulda been
    here. Its our people is who got us behind and in dark ages.

    Good for antigua, my people will never learn.

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