Cabot St Lucia golf resort explained – Part 1

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By Caribbean News Global fav

TORONTO, Canada – The article ‘A Stunning St Lucia Golf Resort Is Really Out of the Way. That’s by Design’ published in the New York Times – ventured the opportunity to revisit Cabot Saint Lucia 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 at just over $33.6 million, under secrecy and facilitated by the government of Saint Lucia.

Besides, what proffered an international business venture of high-net-worth to apply to the NIC instead of a commercial bank or lending institution, locally or internationally, admittedly generates much discussion and concern.

“The ‘Cabot project’ involves the development of a world-class golf course, construction of a hotel, villas, a beach club and sale of lots. This is expected to generate employment locally as well as provide Saint Lucia with additional visibility internationally,”  Matthew L Mathurin, director at NIC, said in a statement.

“The NIC’s recent investment in Cabot (St Lucia) Inc., meets the requirement of the Act, the investment policy and guidelines, and its mission and vision statements. The NIC is confident in its decision. The Corporation has always acted and will continue to act ‘for the benefit of us all,” he said.

And as defined by Invest Saint Lucia: “ Following the successes of the highly-acclaimed Cabot Links and Cabot Cliffs in Nova Scotia, Canada, both of which were recently named among Golf Digest’s “World’s 100 Greatest Golf Courses”, the new Saint Lucia property, will include Cabot’s third golf course and second resort in its expanding portfolio of world-class properties.

“The crown jewel of the luxury resort will be the 18-hole Bill Coore and Ben Crenshaw designed golf course; the famed designers’ carefully chosen first Caribbean project.  In addition, the luxury real estate at Cabot Saint Lucia will offer the best of Caribbean living with a collection comprised of stunning hillside town-homes and exceptional single-family homes conceptualized by world-renowned architects, along with customizable beachfront and bluff-top grand estate lots. Each home will be surrounded by a panoramic turquoise seascape that provides direct, exclusive access to the resort amenities and golf course. Pre-sales will begin summer 2019, ranging from $760,000 to $10 million.”

The New York Times article explained: “The property Mike Keiser refers to has to be ideal ground for golf — sandy soil, preferably oceanside, and just enough character in the form of hills and swales to cause interesting reactions when the golf ball lands on the turf.”

“The 74-year old golf developer is “the father of remote golf,” said Ben Cowan-Dewar, Keiser’s partner in the resort that will become known as Cabot Saint Lucia. Their previous partnership — Cabot Links in Inverness, Nova Scotia — has two courses in Golf Digest’s latest rankings of the world’s top 50.”

Groundbreaking at Cabot St Lucia held on June 14, 2019 – Jacob Sjöman

Invest Saint Lucia July 5, 2019 statement said: “Named Cabot Saint Lucia, this new development boasts an extensive range of amenities, including a golf club, residential community, and resort, nestled in the panoramic landscape of Point Hardy, a 375-acre peninsula located near Saint Lucia’s northern coastline.

“Following the successes of the highly-acclaimed Cabot Links and Cabot Cliffs in Nova Scotia, Canada, both of which were recently named among Golf Digest’s ‘World’s 100 Greatest Golf Courses’, the new Saint Lucia property, will include Cabot’s third golf course and second resort in its expanding portfolio of world-class properties.

“The crown jewel of the luxury resort will be the 18-hole Bill Coore and Ben Crenshaw designed golf course, the famed designers’ carefully chosen first Caribbean project.

“In addition, the luxury real estate at Cabot Saint Lucia will offer the best of Caribbean living with a collection comprised of stunning hillside town-homes and exceptional single-family homes conceptualized by world-renowned architects, along with customizable beachfront and bluff-top grand estate lots. Each home will be surrounded by a panoramic turquoise seascape that provides direct, exclusive access to the resort amenities and golf course. Pre-sales will begin summer 2019, ranging from $760,000 to $10 million.”

Leader of the Saint Lucia Labour Party (SLP) Philip J Pierre, on July 27, 2019, called on the prime minister and minister of finance, Allen Chastanet to take his ‘hands off the NIC money, and caution him against using pension funds for political purpose.’

Meantime, the NIC tag line reads: For the benefit of us all. State corporations and institutions are expected to live up to the highest standards of ethical behaviour and corporate governance; nevertheless, are often unable to assure Saint Lucians’ can retire in dignity, and that their pension fund is safe in a country unable to provide basic healthcare, national security, basic infrastructure and/or provide investments in the social/micro fabric of society.

Meanwhile, ‘A Stunning St Lucia Golf Resort Is Really Out of the Way. That’s by Design’ – perhaps best explained in a “hole in one” that occurs when the golfer gets his golf ball into the cup on the green with just one stroke, [also known as an ace] means hitting the ball directly from the teeing ground into the hole. And yes, that means a hole in one is one of the most exciting things that can happen to a golfer during a round of golf.

So ideally, is the said ‘loan and/or pension fund investment for the development, valued the 375 or is it 391-acre property at just over $33.6 million’ a-hole-in-one; for the benefit of us all, “within the parameters of the National Insurance Corporation (NIC) investment policy and guidelines”; and has it passed the “rigorous investment process”?

To be continued …

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