The Government of the Commonwealth of Dominica has approved a new real estate project for its Citizenship by Investment (CBI) Programme. The project, known as Tranquillity Beach Dominica, will be managed by Curio – a collection of Hilton International, and will be a 73-room hotel with various amenities, including a spa, a gym, a restaurant, conference facilities, and more.
Tranquillity Beach Dominica will be the first CBI project to be developed by a Dominican citizen – Mr Ian Edwards. “The Government welcomed my project, whist keeping at the forefront the protection of the integrity of the CBI Programme, and by extension of Dominica, and for that I commend them,” said Mr Edwards on 18 December 2015 at the project signing ceremony. “We intend to deliver a high quality product that we all, as Dominicans, can be proud of,” concluded Mr Edwards.
The Honourable Roosevelt Skerrit praised the project, stating that it marked “another milestone in the Government’s quest to enhance the opportunities for private sector investment” and signalled “the progress that the Government is making in encouraging investors to participate in the real estate option of the Citizenship by Investment Programme.” Mr Skerrit noted that projects such as Mr Edwards’ benefit the entire nation of Dominica. He also urged other Dominicans to come forward with development ideas that can be supported by the CBI Programme. Finally, Mr Skerrit noted that a new project was likely to be approved for the CBI Programme by January 2016.
Tranquillity Beach Dominica is the second project to be sanctioned for CBI purposes, following the October 2015 approval of the Range Kempinski Resort Dominica project.