Antigua’s $253 Million Pearns Point Project to Begin Construction in 2013
Above: Pearns Point
By the Caribbean Journal staff
The Antigua and Barbuda Investment Authority and Antigua’s Cabinet have approved a development at Pearns Point that will include a five-star boutique hotel, condominium units, a spa, health club and casino,the government announced.
The Pearns Point Residences will be opened in three phases of 21, 22 and 18 lots, with construction on the first phase of the project to begin during the first quarter of 2013 and take around two years.
The first phase of the Orange Antigua Limited development is projected to cost $17 million. The second and third phases, which will include the hotel development along with apartments, villas and spa construction, are slated to start in January as well and will last around 18 months. The total project is estimated to cost $253 million.
Ultimately, it will yield 251 units, with all residences built within eight years. The government said 500 construction jobs would be generated in a five-year period. Once the project is fully operational, the number would be around 439.
Antigua also announced two other upcoming projects. The first is the Honeymoon Beach project, which is scheduled for the first half of 2013, a wellness resort by developer Rob Barrett.
The second is being undertaken by Engineer House and the operators of the Admiral’s Inn. It will construct 20 new hotel rooms, a wellness centre, a spa, a fitness centre and a restaurant, at a cost of about $6.8 million. The project will expand capacity at Admiral’s Inn.