The Canadian investors who are buying 36 acres of land at Mt Wynne-Peters Hope for EC$7 million have made the final payment.
Prime Minister Ralph Gonsalves made the announcement on radio this week, reiterating that the construction and maintenance of the 50 villas there will create “a lot of jobs and wealth” for Vincentians.
The investors, Pace Developments out of Ontario, Canada, had paid down EC$3 million, but have since made the final payments.
Speaking about the job prospects as a result of the investment, Gonsalves said: “At least those are the possibilities and we all know the linkages with tourism.”
Gonsalves acknowledged that persons have spoken about Buccament Bay Resort not being managed properly.
His comments were in apparent response to the opposition New Democratic Party, whose leader, Arnhim Eustace, has described the resort as a “disaster”.
The NDP is also opposing the sale of the lands to foreigners.
Gonsalves said: “But throughout the whole Caribbean, there are some hotels that are not managed properly. Some are even going through liquidation. But that doesn’t mean that you don’t build hotels and you don’t go into tourism.”
He said that whatever is built in St. Vincent and the Grenadines remains in the country for someone else to manage, if the original owners don’t succeed.