St Kitts and Nevis unveils new CBI-Funded housing initiative to deliver 150 affordable homes

St Kitts and Nevis has announced a new affordable housing initiative as part of its Citizenship by Investment Programme, aimed at expanding home ownership for low-and middle-income families. Through a new association between the Citizenship Investment Unit (CIU) and the international business consultancy firm, ClientReferrals, the government of the twin island nation aims to construct over 100-150 homes for low and middle income families across the Federation.

The initiative will be delivered through the Public Benefit Option (PBO), as part of the country’s long-standing CBI programme that helps in national development and supports community-based projects. Under this, foreign applicants for citizenship contribute to development projects which benefit the island's population. The CIU is dedicated to ensure that these investments improve quality of life for citizens which begins with the basic human right of shelter.

ClientReferrals, selected as the official Public Benefit Option to run this project, will oversee both the design and construction phases. Also, they will continue working very closely with the National Housing Corporation (NHC) who owns the land provided for the construction of affordable homes.

Notably, the construction is set to start very soon and is expected to take a 12 to 16 month period for completion. The new homes will target families in genuine need, with a large focus on affordable prices and also long-term sustainability.

One of the initiatives' unique features is its financial model. It reflects a broader approach by the government of St Kitts and Nevis to economic development in which investment-driven programmes are aligned with national priorities. Under this programme, availability of unique finance options will be made possible so that families from underprivileged backgrounds are not left out. 

Statements from project leaders

Executive Chairman of CIU, Calvin St Juste stated, “This project represents a timely and meaningful investment in the people of St. Kitts and Nevis." He further added that the CIU is committed to show proven results and a shared dedication to prosperity and quality of life of all citizens of St Kitts and Nevis. 

“The initiative embodies the next phase of our development, not only in strengthening the Citizenship by Investment Programme, but in ensuring it continues to deliver meaningful outcomes for our communities,” said Executive Chairman Juste.

The CEO of ClientReferrals, Patrick Peters expressed his excitement for this collaboration as it aligns with the firm’s driving principle of creating win-win-win programmes in the Residency and Citizenship By Investment (RCBI) industry.

He said, “This is a win for the people of St Kitts & Nevis, the CBI applicants, and their immigration professionals. Providing affordable housing will have a real and immediate positive impact on the people of St Kitts & Nevis. The applicants have a safe & clear path to Citizenship, and can see the immediate impact from their contribution. And immigration professionals can feel confident their VIP clients are receiving the best service. We have successfully promoted the Sustainable Island State Contribution and Sustainable Growth Fund programmes for many years and this PBO was the logical next step in our partnership."

To ensure long-term benefits for the people of St Kitts and Nevis, the government has come up with this project to utilize the CBI funds for social progress.