Saint Lucia: A Development Agreement has been signed between the government and Chief Executive Officer of TTS Resorts LTD for the construction of the ultra-luxurious 345-room Grand Hyatt Hotel. The hotel will be constructed in Sabwisha, Choiseul and the construction will start in early 2023, expecting to be completed by 2025.
Officially, the agreement was signed between Prime Minister Philip J Pierre; Deputy Prime Minister and Minister of Tourism Ernest Hilaire, as well as, Minister of Tourism Ernest Hilaire and the developers of the hotel – Chief Executive Officer of TTS Resorts LTD, Lachezar Todorov on July 20, 2022.
PM Pierre expressed gratitude towards the developers and thanked them for showing their confidence in Saint Lucia. “Being one of the prominent tourist destinations of the Caribbean region, we are looking forward to the real opening of the resort,” prime minister mentioned. Additionally, he mentioned that the construction of a new five-star hotel would benefit the residents and citizens of Saint Lucia.
Deputy Prime Minister and Minister of Tourism Ernest Hilaire said that the tourism sector is in a revival stage post-COVID-19 pandemic, and investment is returning to Saint Lucia. He also outlined that the government would soon commence working on the En Bas Beach Resort and expansion of Sandals Halycon, as well as many other projects.
“After no new hotel construction or major expansion for over five (5) years, work has started on the Cas En Bas Beach Resort and expansion of Sandals Halycon. More announcements will soon be made. Look out for the Formal Launch of the Community Tourism Programme.” Ernest Hilaire highlighted that the government of Saint Lucia has been keeping their promises of “Putting People First”.
Grand Hyatt will be another gem of Saint Lucia’s ultra-luxury hotel line-up and will increase the brand’s presence in the Caribbean’s leading travel destination. A new-build resort will be featured with 345 guestrooms, including above 50 luxury suites, three restaurants that will offer world-class chefs and iconic dishes reflective of the destination. Some of the other amenities of the opulent resort will include three bars, a lobby lounge, pool bar and beach-side bar; an 8,000-square-foot destination spa and fitness centre to connect guests with their physical and mental wellbeing. It will also feature more than 23,000 square feet of dynamic, three swimming pools. Additionally, a kid’s club and activity centre, retail shops and an ultramodern screening room will also be constructed to entertain children.
The construction of the Grand Hyatt will surely boost the tourism and hospitality industry of Saint Lucia. Apart from this, it will also provide several employment opportunities to the citizens and residents of the country. The construction of the new hotel will also open doors to several opportunities for people looking to invest in the socio-economic development of Saint Lucia.
The country has been working wisely to make its tourism and hospitality sectors better. The government of Saint Lucia has been making all this possible with the help of funds generated through the Citizenship by Investment Programme (CIP).Saint Lucia Citizenship by Investment Programme was launched in the year 2016 and is one of the newest economic citizenship programmes in the region.
Despite being the newest, Saint Lucia is on par with some of the CIPs in the Caribbean. It is worth noting that the Programme of Saint Lucia performed great in the 2021 CBI Index by the PWM Magazine of Financial Times and topped three pillars (out of nine).
In the world of uncertainties, Saint Lucia has been offering investors an opportunity to start their businesses and expand their businesses at a global level. The investors can protect as well as grow their wealth by investing in the alternative citizenship of Saint Lucia. As its demand has been rising across the globe, the government started working closely with international third-party firms to conduct background checks which are strong, robust and vigorous.
The investment option which allows the investor(s) to contribute to the growth and development of the country is National Economic Development Fund, which is popularly termed as Fund Option. Under the Fund Option, the investor(s) can contribute to the country’s socio-economic development. The minimum investment is USD 100,000.
Saint Lucia Citizenship by Investment Programme provides the following benefits:
• Makes an individual a global citizen.
• Assists the applicant in expanding business overseas and helps in portfolio diversification and wealth planning.
• Provides an opportunity to spend the rest of their life in a peaceful and safe environment.
• Offers citizenship for life to the investor, which can be passed on to future generations.
• It can be a Plan B for the applicants and their families.
The interested investor can apply for the alternative citizenship of Saint Lucia via the following steps:
Step 1: Completion of the application.
Step 2: The application is submitted at the CIP Portal
Step 3: The documents and applications are then verified by the CIP Unit and undergo a strong due-diligence background check procedure.
Step 4: The board takes the decision on the rejection or selection of the application.
Step 5: The certificates are then handed over to the applicant.
About Saint Lucia:
Saint Lucia – a mountainous Eastern Caribbean Island, is 26 miles north of Saint Vincent and the Grenadines and 21 miles south of Martinique, all part of the Caribbean Sea’s Lesser Antilles islands.
The country is one of the world’s most beautiful and well-known destinations for travel enthusiasts. It is also popularly known as the best honeymoon destination. The attention of the travellers is caught by the island’s majestic Piton Mountains, spectacular hiking trails, drive-in volcanoes, refreshing waterfalls, beautiful beaches, as well as exclusive restaurants. Saint Lucia is also called the Helen of the West as its beauty is comparable to Helen of Troy.
The history and beauty of Saint Lucia’s beautiful mountains, jungles, coasts, and historical locations are showcased with a great sense of living people.
The country, which is known to be full of culture and heritage, successfully celebrated the Carnival with enthusiasm. The events were celebrated from dawn till nightfall; the stage was rocked by the best in local, regional, and international artists.