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Executive Chairman of Paradise Beach??Limited, Professor Avinash Persaud,??pointing out the work that was done so far at the Four Seasons??construction site.
Minister of Finance and Economic Affairs, Chris Sinckler, has described the Four Seasons project as a "tremendous confidence booster" for the island’s investment prospects.
Speaking to the media during a visit to the Paradise Black Rock, St. Michael, site today, the Finance Minister said the project, based on the names of the prospective villa owners, "gives additional value-added in terms of name recognition, and the entire marketing of the development".
Mr. Sinckler added that the US $300 million project, when completed, would be the single largest tourism venture of its kind in the region.??
Describing it as a massive undertaking, Mr. Sinckler disclosed that the development would, ultimately, lead to a "win win" situation for all the stakeholders. "I think that all of the instruments that we have put in place, now clear the way for us to proceed and we are very happy as a government to see that what we have provided, has assisted in clearing the way for the project to restart.?? Our hope is that it can be done expeditiously and that the work can begin; Barbadians can get work, and that the country gets investment."
Executive Chairman of Paradise Beach Limited, Professor Avinash Persaud (centre),explaining the layout of Four Seasons’ villa and hotel project to??Minister of Finance and Economic Affairs, Chris Sinckler, while Executive Director of Ansa Merchant Bank, Gregory Hill, looks on.
He further stated: "But for the share scale of this undertaking in Barbados, only Government has been able to undertake projects of this nature and size.?? For a private sector entity to do so is a tremendous vote of confidence in the Barbadian economy. So, we feel that this [Four Seasons] will trigger a number of other things which were either there, being held back, put on hold, or were lazily proceeding."
The Minister of Finance also mentioned other investments, such as Beachlands, the $90 million Batts Rock development, additional work on the Crane Beach Hotel, as well as the Foul Bay project, as being at various stages of negotiations with the principals.
Meanwhile, Executive Chairman of Paradise Beach Limited, Professor Avinash Persaud, gave an undertaking that the project would be an inclusive one that would allow residents to make suggestions about its direction.
"We want this to be an inclusive project and not an exclusive project.?? So, we are going to be engaging the neighbours and we are going to make sure that they come in and see the site and we will be asking them their thoughts and ideas as to how the project is progressing on a regular basis," he added.
When completed, the Four Seasons 40 acre site will consist of 35 villas and a100-room hotel.??jwilson@barbados.gov.bb