A New $350 Million Resort Project Is Coming to Grenada
The owner of the luxe Silversands Grenada resort has acquired a pair of properties on the island — with plans for a $350 million investment and a multi-phase tourism project.
Joyau des Caraibes, which owns the recently-opened Silversands, has acquired the Port Louis Maritime Village and the undeveloped lands at the Mount Cinnamon resort on Grand Anse Beach.
“Our experience in Grenada has been overwhelmingly positive, and we are proud to continue our investment in these challenging times,” said Naguib Sawiris, chairman of Joyau des Caraibes. “This would not have been possible without the support of the Grenadian government and the genuine warmth and sincerity of its people. We are incredibly grateful to them for trusting JDC to oversee the development of these important properties.”
The plan is to develop four new five-star hotels, along with a spa, residential villas, food and beverage outlets, retail and an entertainment hub at the Port Louis Marina.
The first development, which will be set at Mount Cinnamon, is expected to break ground in 18 months.
Masterplans for the developments are in “varying phases of completion,” according to a statement.
“Our investment plan’s key focus over the coming four to five years, is to increase Grenada’s hotel inventory by approximately 400 – 500 rooms plus all the associated amenities and facilities, including restaurants, spas, entertainment and retail outlets targeting a wide array of tourists segments. This should in turn result in an increase in the much-needed airlift to Grenada, which is the cornerstone of the flourishing of the tourism industry,” Sawiris said.
It’s a significant boost for Grenada, which has quietly seen its luxury hotel sector grow in recent years, first with Silversands, and now with the in-construction Kimpton Kawana Bay.