Construction work is progressing apace on a new $178 million international airport for a Caribbean nation also seeing a boom in new property development.
St Vincent and the Grenadines will see the facility open in 2011, and is expecting a knock-on increase in tourism and more interest in the country’s real estate market.
Developers with existing property projects have given the thumbs up to the new airport and said it could help the islands compete with some of the Caribbean’s bigger names.
Dave Ames, chairman of Harlequin Hotels & Resorts, which is building the Buccament Bay Beach Resort, welcomed the airport’s construction progress.
He said the construction “could not have been better timed”, and added: “It will be instrumental in the future success of the islands.
“Tourism is expected to replace traditional industries as the number one revenue for the islands and once the airport is completed it will not be long until St Vincent and The Grenadines is in direct competition with the likes of Barbados, St Lucia and Antigua.”
Harlequin’s Buccament Bay real estate project is a five star development on the West Coast of St Vincent and is only a 15 minute drive from the current airport and the new project.
Real estate on sale includes property in landscaped tropical gardens, from studios and suites to apartments and two-bedroom villas.
Buccament Bay is one of several new real estate schemes pushing on across the Caribbean, where new property is largely expected to hold value comparatively well during the global downturn.
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