BASSETERRE, ST. KITTS, DECEMBER 23, 2016 — Prime Minister Dr. the Honourable Timothy Harris today, December 23, 2016, expressed his satisfaction with the pace of development taking place at the Pirate’s Nest Hotel and Condominium project.
Pirate’s Nest, being undertaken by T-Loft Property Development, is an approved real estate project under the Citizenship by Investment Programme and will feature forty-one (41) condominium units in six independent buildings.
Speaking during a tour of one of the completed units, Prime Minister Harris said his government and people are looking forward to the opening of the first phase of the development in the latter part of 2017.
“Last time we were here there were some commitments made and we are satisfied that there is genuine movement. The rooms are basically — at least this one — completed and so we have a clearer perspective as to what those to come will look like. We have seen both activities being undertaken externally and internally and we are satisfied that the project is moving apace,” Dr. Harris stated, adding “We are hoping next year that we will have at least the initial opening of phase one of the project and we are hoping that that target would be realized for the latter part for 2017.”
The Prime Minister went on to say that this project, coupled with other hotel developments presently taking place in St. Kitts and several capital projects slated to commence in the new year, is a clear indication of the strong investor confidence in St. Kitts and Nevis’ economy.
“We expect to have many good news stories about tourism development in St. Kitts and Nevis, starting in the first quarter with the opening of the Park Hyatt, which is of course the highest of the Hyatt Brand, and that will be opening in grand style in the first quarter and by the last quarter we are expecting that we will have the Radisson — the T-Loft Property — again showcasing in terms of its opening.”
He continued: “Next year also promises to be a very busy one, not only for stay-over but for cruise based tourism. It also will herald in the start of a second cruise pier which speaks to the confidence not only of the government but most importantly of the private sector stakeholder in the tourism plant of St. Kitts and Nevis. So we are indeed thankful for such successes which would redound in improved economic growth, more jobs for our people, better paying jobs and a greater success story as far as our prosperity agenda is concerned.”
Accompanying Prime Minister Harris on the tour was the Chief Executive Officer (CEO) of St. Kitts and Nevis’ Citizenship by Investment Unit (CIU), Les Khan, who said interest in this particular development is being felt as far away as China.
He noted: “The thing to acknowledge is that there are a lot of investors who are looking forward to the T-Loft project based on what I’m hearing out of China. It’s great to see a finished product and I’m sure it will be great for you to be able to show your potential clients the great opportunity that you have here.”
The first phase of the Pirate’s Nest Hotel and Condominium project will see the completion of the Club House, which includes the reception area, and 170 rooms. It is expected to be completed by the third quarter of 2017, while the second phase should be completed by the first quarter of 2018.
