Questions have arisen regarding the proper vetting of investors before alien land holding licenses are issued, as the St Vincent government moves to acquire the Black Sands Resort at Mt Wynne/ Peters Hope, a project which was slated for completion in the third quarter of 2020.
Prime Minister Ralph Gonsalves stated on Sunday that the developers have been informed of the acquisition.
“We’ve informed the current developers (PACE) that we intend to end our relationship, as progress hasn’t been as swift as anticipated. I understand they’ve faced challenges, including COVID and volcanic eruptions,” he said.
In March 2022, St Vincent Finance Minister Camilo Gonsalves indicated that the land on which the Black Sands Resort is being constructed could be forfeited.
“When undertaking a project like this as a foreign direct investor, an alien landholding license must be signed, which includes specific conditions.”
Prime Minister Gonsalves stated on Sunday that the property appraisal is underway.
“We’re currently conducting the appraisal and intend to purchase the property. Our intention is to purchase what’s there and proceed with the new Marriott development, which will feature 300 rooms.”
Speculation about Sandals’ potential interest in the Black Sands Resort arose from a post on February 23, featuring a photograph of Prime Minister Gonsalves with Terence Des Vignes at the unfinished resort. Des Vignes is the regional project manager for Sandals Resorts International.
Approximately US$65 million was expected to be invested in the Black Sands Resort.
