|Chinese Investors Buying Up the Caribbean|
|by Tom McGregor||Tue, Aug 19, 2014, 12:20 AM|
BEIJING: Chinese investors are going on a property buying spree in the Caribbean to build luxury tourist resorts.
According to Channel NewsAsia, "Chinese investors are to plunge more than US$1 billion (S$1.25 billion) into developing Antigua and Barbuda's first mega-resort, creating 1,000 jobs for the tiny cash-strapped nation. Construction on the mammoth 1,600-acre (647-hectare) multi-hotel, residential and commercial project is slated to begin early next year."
The Barbados struggles with a national debt accounting for 90 percent of GDP.
As reported by Channel NewsAsia, "The 'Singulari' scheme - 50 per cent bigger than the regionally-heralded Baha Mar resort under way in the Bahamas - is being lauded as a major feather in the East Caribbean country's tourism cap. Spanning 900 acres of land in the north of Antigua and 700 acres of tiny islands, it will include several luxury hotels, hundreds of private homes, a school, hospital, marinas, golf courses, an entertainment district, horse racing track and the Caribbean's biggest casino."
Property investments are likely to boost demand for local construction jobs.
To read the entire article from Channel NewsAsia, link here:
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