Construction on the US$70 million Prime Hotel and Condominiums to commence within 60 days

Basseterre, St. Kitts (CUOPM) – Construction on the US$70 million Prime Hotel and Condominiums is to commence within 60 days following Saturday’s Ground Breaking Ceremony.

This has been disclosed by one of the investors, Dr. Sirous Motevassel, who also referred to the country’s excellent investment climate, stable Government and currency and a friendly, welcoming and proud people as major ingredients for investing in St. Kitts.

“My partner and I do not believe in having an event like this today, then for months there is no activity. We intend to commence construction within 60 days. We can say this confidently because all the necessary financial, technical and Governmental requirements are in place,” he said.

Dr. Motevassel said company officials anticipate moving the project smoothly and swiftly similarly to what has been done with the Imperial Bay Beach & Golf Residence Condo Project now under construction at Half Moon Bay.

Saying he is confident that the project will impact positively on the lives of the people of St. Kitts and Nevis, Dr. Motevassel told invited guests including Governor General, His Excellency Sir Edmund Lawrence; Prime Minister the Right Hon. Dr. Denzil L. Douglas; Minister of Tourism, Sen. the Hon. Richard Skerritt and Cabinet Secretary, Mr. Joseph Edmeade, that the investors as citizens of St. Kitts and Nevis, “have a vested interest in ensuring that the country continues on its clearly defined, planned and controlled development path. It is within that path that we intend to continue to contribute to the development of St. Kitts and Nevis.”

“St. Kitts and Nevis is attractive to not only tourists but investors around the Globe. Although small, St. Kitts and Nevis has become a very well known country. This it has achieved through its pioneering and well managed Citizenship By Investment Programme as well as its forward thinking and visionary leadership that has allowed for the establishment of relationships with world leaders to the benefit of the people of St. Kitts and Nevis,” said Dr. Motevassel.

He cited several reasons why St. Kitts and Nevis is attractive to investors around the world.

“An excellent investment climate, a stable Government, a stable currency, a highly educated and trained work force, a high level of information, computer and telecom technologies, no foreign exchange restrictions, easy access to and from the island, its natural and breath taking beauty, it is a democratic country governed by the Rule of Law and a friendly, welcoming and proud people,” said Mr. Motevassel.

He announced that from meetings with the Prime Minister, the Rt. Hon. Dr. Denzil L. Douglas, company officials are very aware of his developmental goal of continuously improving the standard of living and indeed the lives of the residents and citizens of St. Kitts and Nevis.

“This was evident as he expressed his concerns in regards to issues such as: how many construction jobs will be created?, how many permanent jobs will be created?, how many middle and top management positions will be available to the local work force, What training will be available for employees? What benefits will be afforded the workers? Clearly, these are some of the issues that he is passionate about and thus seeks commitment on from investors,” said Dr. Motevassel.

He expressed happiness that both him and the other investors “are also committed to these issues and I assure you that in every decision and action we take, the welfare and interest of the people of St. Kitts and Nevis will be paramount.”

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