Now known as the Hartman Resort Grenada, the Mt Hartman development under the Citizenship by Investment Programme (CBI) has a new developer and management team, who have seized the opportunity to continue the development and enhance the area.
Chief Executive Officer of the CBI Programme, Percival Clouden, recently updated the GIS on the project. He said it will involve a new configuration from the original development. Clouden explained that the new developers have already obtained approval and work has started, with an estimated 50 Grenadians employed in the initial stages of the project.
He noted that the new developers have given their commitment to preserve the bird sanctuary, and are now going through the process of engaging an environmental specialist to ensure that there will be no destruction of the sanctuary.
Through the new configuration, the Hartman Resort Grenada project’s revised cost now stands at US$2.9 billion, and it is projected to take 10 years for the 4 phases of the project to be completed. One of the 4 phases in the construction process will be a health and wellness centre that will cater to locals and visitors.
The Hartman Resort Grenada is also going to construct a marina. Clouden said Grenada’s marine industry brings in approximately $125 million to the treasury per year, and that’s an area that the government needs to capitalise and expand on, as it is a solid base that can assist in job creation.
He said the thinking going forward should be on deciding how we train and prepare Grenadians to take up these jobs when they become available.
Altogether, the CBI Programme is important to the economic development of the country and its people. Clouden said that as head of the Citizenship by Investment Programme his mandate is to encourage investors, and there is absolutely no doubt that a country grows through foreign direct investment.
He said the CBI Programme assists developers in providing the necessary funding through citizenship, to fund the projects, as they do not have to go to the banks. Therefore, CBI makes it easier for the development.
Clouden said it is important to note, however, that the CBI programme does not provide 100% of the financing. Developers have to come up with 20% of the cost of the development, so that they have some stake in it, as the objective is to see projects completed, thus enabling permanent employment for citizens.
Clouden also said that investors do not come to reside here. They have an investment in a project, which allows them a timeshare, whereby they can spend several weeks at a time in Grenada, as required.
The CBI programme is a win-win for all parties involved.
GIS
Again we have sold our souls to the devil. How often do we find our people in senior positions within those organisations. The most that can be expected is menial employment. What precentage of the revenue generated would be spent within the country and the local communities? Its about time we wake up and open our eyes. Sadly this remind me of a soca song back in the 90ies…Grenada For Sale.
If it’s being built with 80% CBI money (money got from the sale of passports) then most of it should owned by the Govt. of Grenada, by the people of Grenada?
Then the investor only owns 20%. So why not make that clear. It will be frightening and open to legal challenge if Grenada somehow takes our people money (CBI investments) and gives it to some developers to front for Con Men it someone in government for example who uses the people money as there own.
We need to know that. There need to be full transparency on where the money is coming from, who owns what when public money is being used and who benefits directly from income from the project.
Anything else is pure corruption.
I am really concerned as well, since so much has been sold off to foreigners that don’t benefit the actual economic growth of the Island and sustainability for the locals benefit. My hope has been to return my homeland when I retire, it makes me nervous as to what will be available for me to make it home again.
I have been coming to Grenada once or twice a year since 2004 (before and after Ivan. No more. The beautiful island I knew is gone, sold out to developers who ruin the environment, take the profits, and leave low-wage jobs behind.
KCM you and you henchmen stop selling out Grenada please. We will revolt against you all. ( Revo ) long live the youths of Grenada.
Why can’t they say the name of the developer. If they are legit that should not be a problem.
Hi percy…good try but it won’t work. Good luck tricky boy
Interesting & Awesome, as any Pie in The Sky usually is, until it Rains and the Skies turn Red. This all sounds like a Movie – reruns and reruns & the show is Cancelled.
Perhaps this Project will also include a Shrimp Farm and a Call Center. Maybe those past smoking mirrors victims will recover their lost tens of millions.
We hear Class Action multi parties Filing soon will encourage these Planners to act above board, not be weighed down with focus of just their heavy stuffed pockets.
US$2.9 billion eh. An impressive sum.
Assuming the developer puts in their 20%.
That’s approx 2.3 billion to be funded by roughly 6600 passport applications.
I wonder what the name of the resort will be when it’s kick started again in about five years?
The Citizenship By Investment (CBI) is a Trojan Horse.
Once citizenship is granted there is no stopping a citizen from a settling in Grenada. Percy, you are gambling on the odds that the vast majority will only come for visits on some sort of time share arrangement. That maybe so but it is a gamble.
Even with the requirement of a minimum 20% investment by the developer company that would still require many thousands of passports sold…and at the absurdly low going C.B.I. rates throughout the West Indies, but the rates are another subject for discussion I will not enter as I’m opposed to CBI on principle.
The many thousands of passports that would have to be sold to satisfy the funding of Mount Hartman or the Hartman Resort Grenada would also potentially create a powerful voting block that could Potentially render powerless all present day existing political parties in Grenada.
Consider that there are other CBI resorts in the works in Grenada. Multiply them all by the number of Passport sales required. Grenada’s voter list will grow accordingly.
Finally, why is Grenada choosing to build the mega-sized resorts instead of the smaller boutique type hotels, guesthouses and self contained apartment units. Improve on the quality of tourists arriving in Grenada as opposed to herding them into these large and expensive to operate resorts.
Grenadians have less and less access to Grenada’s beaches. Silversands was once upon a time an assortment of bungalows available for rent to locals as much as to foreigners, and public beach access was never an issue.
I hope these thoughts will be given some consideration.
Thank you.
George A Soltysik
(A former resident on Silversands Beach during 1952-1957)