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St Kitts Bags Exclusive Resort Developments
May 5, 2009Article by Ray Withers
Sunshine isle St Kitts is bucking the global economic trend and ploughing millions of dollars in to hotel and tourism projects to boost prospects for Caribbean real estate investors.Prime Minister Denzil Douglas has said he wants to ensure that his government will work to grow the island’s economy.
He told a meeting on the island that St Kitts continued to be a ‘preferred place for investment’ despite tourism projects going in to mothballs in Anguilla, St Lucia and Grenada.In particular, two of the three projects he cited were the Silver Reef Resort at Frigate Bay, and the Christophe Harbour development, where earthworks for a new cliff top Tom Fazio golf course are taking shape.
Silver Reef Resort, Frigates Bay on St Kitts is a $30 million project that involves the construction of 54 one-bedroom and two-bedroom apartments and 8 duplex villas, two swimming pools and a 12,000 square foot commercial area to house restaurants, shops and a bank.
International property consultants Property Frontiers are offering investment opportunities on both developments:
* Founder member 0.5 acre plots on the prestigious Christophe Harbour development, which is focussed on a massive new yachting marina and destined to become one of the Caribbean’s, premier destinations.
The development for the super-rich will consist of exclusive high-end bespoke private homes and 300 slips that can take yachts up to 300 feet long.Buying a ‘founder’ plot comes with free lifetime membership of the St Christophe Harbour Club and other benefits.The plot costs £295,380.
* Villas and apartments in Frigate Bay, Saint Kitts, bordering the Royal St Kitts Golf Course, range in price from £188,000 to £448,000Yields are anticipated to reach between 8 -11%, plus economic citizenship is available on certain properties.The Prime Minister said he wanted St Kitts to be ready for when the global economy comes out of recession and investors and travellers want to spend money again – and part of that objective was making St Kitts an exclusive holiday island for the super rich.