Saint Lucia to construct 64 units under first ever CIP-funded housing project

Castries, Saint Lucia: The administration of Saint Lucia made a historic announcement of closing the housing gap and convert the dream of homeownership of several citizens into a reality. The activities for the site preparation for the first ever CIP-funded housing development project have already commenced.

The administration led by Philip J Pierre will commit revenue from the Citizenship by Investment Programme to construct affordable homes for the citizens of Saint Lucia. The announcement of the project was made by the leader of the nation himself who shed light on this crucial project during his address on Budget Policy on 23rdApril, 2024.

As per the details, the constructor has been granted to develop a 64-unit housing development in Rock Hall, Castries. The administration is finalizing the terms and conditions of the next housing project to be built in Belvedere, Canaries.

The decision undertaken by the government of Saint Lucia to invest CIP revenue into housing development emphasises the unwavering commitment and dedication of the government towards enhanced standard of living of the citizens of the nation. With this project, the administration aims to ensure that ordinary citizens of the island nation have an opportunity to become home and property owners.

Moreover, it is notable for the first time that the administration of the country will utilize its revenue from CIP Programme to build homes with a vision to help families transition from tenant to landlord.

During his budget address, PM Pierre shed light on the needs of Saint Lucians and stated that it is first and always priority of the government towards turning the aspiration of their citizens to a reality. He also stated that 2024-25 budget is crafted in order to enrich the lives of the citizens economically and socially. It includes vital housing solutions that will elevate the standard of living or the quality of life from low to middle income earners in Saint Lucia.

PM Pierre noted that such housing project will empower the citizens of Saint Lucia and give them more accessible opportunities to build and owe property to stimulate wealth creation in Saint Lucia.