New $2 Billion Resort Project Launches in the Caribbean
By Joe Pike, Special Contributor to CJI
A new resort project in Grenada, which represents a roughly $2 billion hotel investment, has launched construction, Caribbean Journal Invest has learned.
In a recent interview with Cathyann Alexander-Pierre, senior specialist for the Grenada Investment Development Corporation, CJI was told that the main hotel highlight of what’s for now called the “Grenada National Resort Project” involves the development of a 500-room, five-star property and international golf course.
To date, more than $70 million has been invested in the acquisition of the property. Preliminary work included feasibility studies, surveys, site preparation and ongoing construction, said Alexander-Pierre.
“Grenada offers fantastic opportunities for the development of luxury products at some of the most picturesque sites around the island,” said Alexander-Pierre.
Alexander-Pierre said other amenities of the project will include a casino, an amusement park, duty-free shops and a turtle museum.
“Grenada is an unspoilt, under-the-radar destination that creates the feeling of exclusivity for luxury developers,” said Alexander-Pierre. “They want to give their clients something of the highest quality, which is authentic and not easily duplicated.”
The construction of this facility is expected to create employment for more than 500 Grenadians within the parish of St. Patrick, said Alexander-Pierre. She said 135 of those jobs are already operational.
Once the project is fully operational, she said 500 to 800 permanent jobs will be created for locals.
She said she doesn’t expect the pandemic to influence the timeline of the resort, so long as Grenada keeps up its successful efforts to contain the illness.
“Grenada has managed the pandemic well by implementing internationally recognized health and safety protocols to safeguard residents, visitors and investors,” she told CJI. “We maintain low numbers and our efforts have been praised by the international community. Investors have also commended our efforts, expressing that they feel safe in Grenada.”