By Caribbean News Global
TORONTO, Canada – Cabot recently announced the release of new real estate at Cabot Saint Lucia in a February 3, 2021 press release, stating: “After quietly launching its first phase of real estate in late 2020, land sales have exceeded $50 million”; meanwhile, the golf resort nestled in the panoramic landscape of Point Hardy, a 375-acre peninsula located near Saint Lucia’s northern coastline funded via the National Insurance Corporation (NIC) ‘poor people’s’ pension funds by way of EC$27.5 million loan under secrecy, facilitated by the government of Saint Lucia.
COVID-19 has compounded this decision described as ‘burning eyes and hungry bellies’ with the inability of the government and the NIC to facilitate a social safety-net for the people of Saint Lucia. Meantime, the government in disarray has extended the state of emergency to May 16, on the verge of general elections, that is not looking promising for the government.
However, Cabot press release says: “Saint Lucia is open to visitors from all countries and continues to be a model for its responsible approach to managing the COVID-19 pandemic. The country was among the first in the Caribbean to reopen in 2020 and has maintained balanced travel protocols in order to keep the local community safe while also supporting the tourism industry.”
In 2019, chairman of the National Insurance Corporation (NIC) Isaac Anthony, in defence of the illogical loan and/or investment in Cabot Links Golf resort on Saint Lucia is considerable fickle to anyone with a basic knowledge of economic affairs, explained: St Lucia’s pension fund investment in a Golf resort.
“Saint Lucia’s economy is now underpinned by the tourism industry, will in-turn benefit from additional visibility, internationally, as a differentiated tourism destination. There is also the additional benefit of the generation of employment, both during the construction phase and subsequent, with the operations of the resort itself.
“On the issue of the investment and related to security, NIC’s involvement in the project, is by way of an EC$27.5 million loan which is approximately 1.2 percent of NIC’s investment portfolio of EC$ 2.3 billion and I will concede that the loan is 100 percent secured.”
According to Cabot, their first Caribbean golf course as they progress construction of Cabot Point is set to open in 2022.
“The challenges of the past several months have made our vision for Cabot Saint Lucia more relevant than ever,” said Ben Cowan-Dewar, chief executive officer and co-founder of Cabot. “Our goal is to create a beautiful place for families to enjoy amid the incredible natural surroundings of Saint Lucia. We’re humbled by the overwhelming response to date and look forward to launching new real estate that meets the evolving needs of buyers today, including our first built product.”
“Phase Two real estate is now available for sale, including an exclusive offering of premium lots with endless views of the sparkling turquoise sea and highly anticipated, beautifully-crafted townhomes perched on one of the site’s highest points. The landscape features tropical hillsides, sweeping meadows and coastal promontories along with striking elevation changes. Pricing for Phase Two ranges from $2 to $11 million,” Cabot said in a press release last week.
Meanwhile ‘Cabot Saint Lucia reports sales success and debuts new oceanfront offerings as development progresses’ the natives have and continue to express disapproval of the project, located on indigenous and sacred grounds.
Should the project come to completion as prescribed many who traverse the area for a living, already negatively impacted – others are expected to be further disenfranchised thus compounding the way of life of the people and the destruction of historical content of Saint Lucia.