CHIEF Executive Officer (CEO) of Invest Saint Lucia (an agency tasked with bringing foreign investment into the country) Octavian Charles on Tuesday hinted that there are countless opportunities for growth in the local tourism industry.
Charles who was part of a media tour organized by Invest Saint Lucia (ISL) said that “as far as the hotel sector is concerned, foreign direct investment looks pretty good.”
ISL is currently involved in a number of projects that are set to create employment opportunities for Saint Lucians across the island “both at the construction stage as well as when these facilities become operational,” Charles told reporters.
Amongst these million-dollar investments are projects like Courtyard by Marriott and Canelles Resort.
The Breakdown
Courtyard by Marriott in Pointe Seraphine
Invest Saint Lucia has been facilitating this major investment from the start (as noted in a statement) by making the land available for development, working with the investor to obtain incentives and liaising on legal matters to ensure that the project takes off seamlessly.
The nine-storey hotel which is expected to be completed by the end of 2025 will feature 140 rooms, a rooftop restaurant, a conference centre, a swimming pool, fitness centre and food and beverage outlets.
“It’s going to really complement Duty Free Pointe Seraphine,” Senior Investment Services Officer at ISL Camille Michel said on Tuesday’s tour.
“We think it’s going to complement our diverse portfolio and hopefully it does prove so,” Michel added.
The hotel will be managed and marketed by Marriott International Inc. (under the brand Courtyard by Marriott) once completed.
Canelles Resort
The Canelles Resort which is located approximately five miles from the Hewanorra International Airport is a luxury resort being developed by the Caribbean Galaxy Group. The resort has two brands, Dreams and Zoetry, as well as Canelles Oceanfront Apartments. With spacious rooms and suites, Cannelles will provide the ultimate vacation experience.
Project Manager Lester Arnold explained that the first phase of the project “would essentially be a 250-room resort (‘Dreams’) which will be managed by Hyatt.”
“The majority of workers here are all local contractors,” he stated.
According to Les Khan, CEO of Caribbean Galaxy, “we’re looking at completion of construction and opening of the (‘Dreams’) Hotel by about the middle of 2025, that’s our target. The second hotel once we get the plans and so on by the end of the year we’ll start on that as we move away from this location.”
Khan said they’re expecting to have about 220-230 residential buildings.
In terms of square footage (generally) it’s “about 230 acres which is a large amount of space. We will build the hotels and more residences as the need occurs. We have a really solid brand behind us and we are (moving) full force ahead to get this done.”
Bois Jolie Development
“We’re progressing towards the establishment of a business incubator,” ISL’s CEO said, noting that “we want to bring in small entrepreneurs who do not have a space where they can operate from. As you know small businesses and small entrepreneurs are the engine of growth in small economies so it will be very significant, curbing the unemployment situation. As far as the employment situation is concerned, you would be empowering many young people, thus contributing towards the development of the economy as well as to their own personal and professional development.”
Furthermore, he stated, “we are talking to some partners,” and as a matter of fact “we have engaged senior officials of the Ministry of Finance who are talking to free funding agencies on our behalf. In fact, we had already engaged the Caribbean Development Bank through them. We just received notification that we need to beef up our proposal a bit, which we are working on for resubmission, so we are hopeful that we will be getting something positive. In addition to that, there are also verbal commitments from certain agencies as far as technical expertise is concerned. They may not give us money but they’ll give us assistance in setting up and things of that nature.”
ISL’s media tour provided insights on its latest involvements which are set to change the tourism landscape once completed. These projects will see investors reaping the benefits over a period of time and will create employment for individuals from all walks of life.
As ISL notes on its website, “Invest Saint Lucia continues to build its competitive advantage and will always seek to target high impact projects in tourism, manufacturing, agriculture, business process outsourcing and real estate development that will enable linkages with the wider society.”
“Our mission is to advance Saint Lucia’s socio-economic development by promoting, stimulating and facilitating direct investment, while making a reasonable return on assets,” ISL stated.