Basseterre, Saint Kitts, May 29, 2025 (PMO) — Prime Minister of St. Kitts and Nevis, the Honourable Dr. Terrance Drew, today, May 29th, delivered a statement confirming that his administration has secured nearly EC $25 million in direct payments to public institutions as part of the landmark sale of the marina assets and operations at Christophe Harbour to Safe Harbor Marinas, LLC.
In what is being hailed as a ‘strategic move’ and a ‘powerful turning point,’ Prime Minister Drew said the sale corrects years of mismanagement and brings tangible, measurable benefits to the people of the Federation. “After meticulous negotiations, this government has secured direct payments of nearly $25 Million Eastern Caribbean dollars from this transaction,”
Prime Minister Drew declared that “These direct payments, which are only a portion of the sale price, are funds that are going straight back into our public institutions, settling long-standing debts, and restoring financial order that was lost under previous leadership.”
Notably, the funds will settle a number of long-outstanding obligations. These include EC $4,528,523 to the Social Security Board, EC $2,406,077 to SKELEC, EC $5,703,600 to the Sugar Industry Diversification Fund (SIDF), EC $2,796,032 to the National Bank Trust, and EC $2,716,000 directly to the National Bank. Additionally, EC $2,987,600 has been paid toward outstanding property tax arrears, and EC $3,612,280 has been paid in stamp duties.
The Prime Minister disclosed that these debts had been left lingering for many years. “With these payments, we have brought closure and clarity,” the Prime Minister affirmed.
Beyond the direct payments, the Prime Minister also highlighted that significant funds have been earmarked for the further development of the marina by Safe Harbor Marinas, which is the world’s largest owner and operator of marinas with over 135 facilities worldwide. As part of the agreement, Safe Harbor will expand the Christophe Harbour Marina by 40% and construct a new desalination plant. These investments are scheduled to be completed by November 2025 and are expected to transform St. Kitts into a premier yachting hub in the Caribbean.
Reinforcing his administration’s commitment to good governance, Dr. Drew stated, “Today, Christophe Harbour has written a new chapter to become a vibrant investment hub as part of our quest to become a Sustainable Island State.” He reaffirmed that his government’s approach is guided by transparency, integrity, and its unwavering focus on placing people at the center of national development.
