YIDA International Investment Antigua Limited has acquired a portfolio of developable land along the northeastern coast of Antigua for $60 million in a deal brokered by CBRE. CBRE Golf & Resort Properties was retained through an exclusive listing agreement (in conjunction with Smiths Gore) by the Joint Liquidators of Stanford International Bank. Earlier this summer, Prime Minister Gaston Browne signed a Memorandum of Agreement with Yida International Investment Antigua to pave the way for a two-billion dollar investment project in the twin-island-state. According to a GlobeSt report, the Chinese firm plans to create "Singulari," a multi-billion dollar mixed-use project including a golf resort, several five-star hotels, a horse track and residences stretching from the Crump Peninsula to Guiana Island.
"I promised the people that my administration would bring the type of investments to the country that will transform Antigua and Barbuda into an economic powerhouse and I am serious about that promise. This Memorandum of Agreement is the result of our determination to work in the interest of the people of the country," PM Browne stated.
This unique development opportunity represents the last remaining piece of the Antigua portion of the Stanford International Bank dissolution. Approximately 1,500 acres of adjacent island and mainland SIB property were recently sold. The portfolio is comprised 987 acres on the mainland, plus three adjacent islands for a combined total of approximately 1,522 acres. Prior development plans included five hotels (1,060 keys), 1,300 residential units, a casino, conference center, 27-hole golf course, marina, sports complex, commercial and retail space. The property is located in the parish of St. Peter, approximately 30 minutes from V.C. Bird International Airport.
For more news and information visit Blumberg Capital Partners.
No comments:
Post a Comment