Gov’t inks investment agreement with JOMA for hotel & marina dev't @ Port Purcell
![One of the property developments by JOMA [Properties] Limited in Port Purcell. Photo: Facebook/File](https://www.virginislandsnewsonline.com/cache/images/800x_3_362217377_782998646952171_8836178141503311573_n.jpg)
The signing ceremony of the Investment Agreement between the Government and JOMA [Properties] Limited was held today, March 25, 2024, in the presence of Government officials and others.
Speaking at the event, Premier and Minister of Finance Dr the Hon Natalio D. Wheatley (R7) said the agreement signed is for the development of a new 65-room boutique hotel complete with a restaurant, bar, retail shop, fitness centre and more.
Hon Wheatley said the agreement also includes an upgrade of the marina facilities in the Port Purcell area.
"This is a significant investment by JOMA, and it illustrates what we have been saying all along, the BVI is pregnant with opportunities and there are investors who have a lot of confidence in the BVI economy and our prospects for economic growth.”
Premier Wheatley thanked JOMA [Properties] Limited for the confidence they are showing in the country and the economy by choosing to invest in these major development projects at this time. "JOMA’s renderings and development plans are very impressive and, when completed, the new facilities will transform the area which presently consists of warehouse-type structures,” the Premier said.
Host of benefits to come - Premier
Further Premier Wheatley said development like the one inked with JOMA [Properties] presents a host of benefits for the VI and they also transform the aesthetics of the area where they are built.
“They create jobs during the construction phase, and JOMA has committed to as much as possible to using local contractors and subcontractors and local labour. These developments create opportunities to support business development and entrepreneurship. They'll create job opportunities when the facilities are completed and open for business,” he added.
Meanwhile, CEO of JOMA [Properties] Limited Collin O’Neil spoke of the company’s history and competence including expansion in other areas like the financial services sector.
"We hope that this partnership with the government will provide both parties with the opportunity to realise a project that benefits the investors, the Government and the people of the BVI," he said.
It is unclear the value of the investment by both parties.
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39 Responses to “Gov’t inks investment agreement with JOMA for hotel & marina dev't @ Port Purcell”
NOW DR PREMIER WHEN YOU DO SH** I WILL PUT YOU ON BLAST THIS IS SOLID INVESTMENT WAY TO GO .
Two hundred years ago the aesthetics of warehouses were on a par with cathedrals. A boutique hotel is incompatible with the port's function.
Isnt that what the premier is always saying..how transparent the government is operating.?
tell us..its our tax dollars at work...or our government pledging assistance in other ways...maybe its additional sea bed leases..whatever..we have a right to kmow and know now
We say we are a tourist destination. Then, we should encourage, especially from our own, developments, that will enhance our product, henceforth!
I say, it's a good day!