Local investment encouraged by Prime Minister Douglas

SKNIS Photo: (Left to Right in front row) Prime Minister Denzil Douglas, Minister Glenn Phillip and Mrs. Phillip and Scott Caines

Basseterre, St. Kitts, February 08, 2013 (SKNIS): Local investors Scott Caines and Errol Douglas were congratulated and applauded by Prime Minister the Right Honourable Dr. Denzil Douglas for taking the initiative to establish the Golden Rock Commercial Park and placing faith in the progressive political and economic climate of St. Kitts and Nevis.

Prime Minister Douglas expressed these sentiments at the launch of the Golden Rock Commercial Park, yesterday, where it was revealed by Scott Caines, Director of the Golden Rock Development Co. Ltd and Developer of the Park that the project consists of five phases, of which the first is forecasted to be completed in April 2014. He further revealed that during the construction phase at least 150 persons were expected to be employed and at completion approximated 500 people would have found jobs. The Development Bank of St. Kitts and Nevis was cited as the chief lender for Phase I.

Project Engineer of the Golden Rock Commercial Park, Errol Douglas outlined that the five phases would take five years to complete and feature five buildings on six acres of prime land. He further revealed that the total cost of the Park was US$76 million and that while it was a government-approved Citizen by Investment project, investment opportunities were available to other interested parties, both locally and internationally.

SKNIS Photo: Errol Douglas explaining the Golden Rock Commercial Park concept

Phase I, which is currently under construction, is a state of the art 65 unit commercial building which includes security and ample parking. Additional features include a food court, interior water fall and water feature and a doorway to an outdoor amphitheater. Many of the offices offer views of the Basseterre Valley, the Caribbean Sea and Atlantic Ocean. Phase II which is expected to commence March 2014 and conclude May 2015 is a five-floor, 32-unit Condotel replete with lobby, two meeting rooms, internet connectivity and presentation equipment.

Phase III should commence March 2015 and conclude May 2015. This building will be four floors with 32 units. Two meeting rooms will be available several of which overlook interior courtyards. Phase IV is estimated to commence February 2016 and conclude January 2017. It involves the construction of a fourth building which consists of four floors of 34 self-contained business units. This building will also overlook the interior courtyards. Phase V is expected to commence in March 2016 while Phase IV is going on, and features a fifth, three-floor building that includes an upscale spa and fitness centre as well as an amphitheatre.

Chairperson of the Launch Laverne Caines emphasized that the commercial park was designed as a green space and noted that opportunities are available for entrepreneurs with the appropriate services. The concept further features a supermarket, residences, 24 hour security, parking for employees, high speed telecommunication services, standby power generation and a cistern.

SKNIS Photo: Scott and Laverne Caines