In a scathing critique of foreign direct investment policies, commentator and former political figure Jomo Thomas has publicly condemned the recent sale of over 50 acres of prime beachfront property at Mount Wynne to the Sandals resort chain. Thomas described the transaction as a “giveaway” of national patrimony that offers virtually no tangible benefits for the people of St. Vincent.
According to Thomas, the 51-acre property was sold by National Properties to Sandals for $15 million USD. Breaking down the figures, Thomas calculated that this prime hotel development land was sold for a mere 14 cents per square foot.
“The agreement, which was reportedly signed by then-Prime Minister Ralph Gonsalves and Minister of Finance Camillo Gonsalves on October 23, 2025, just one month before the election paved the way for a $300 million USD, 500-room Beaches hotel”.
Thomas raised concerns over confidentiality clauses in the contract and questioned whether required disclosures were ever made to Parliament.
The Attorney also detailed an extensive list of tax breaks granted to the resort, arguing that the contract’s giveaways leave the country with nothing. Key concessions include:
Total waiver of Alien Landholding fees, which typically cost foreign buyers up to 16% of the land’s value.
Exemptions from corporate tax, property tax, and withholding and capital gains taxes, as well as tax exemptions on all dividends.
A five-year absolute waiver on everything following the hotel’s opening date, alongside waivers on import duties and customs service charges for both food and non-food items.
An extension of tax concessions for an additional 15 years after the initial holiday period ends. Additionally, if occupancy exceeds 400 persons, the resort receives a 50% reduction in applicable tax rates for 15 years.
Furthermore, Thomas pointed out a discrepancy in the Value Added Tax (VAT). While standard citizens pay 16% VAT, the hotel room revenue VAT for Sandals is capped at 11%.
” I suspect the resort will still charge guests 16%, allowing them to pocket the 5% difference that should rightfully go to the state. A “climate resilience levy” is also unusually capped at just $8 per person per room”.
According to Thomas, the deal also reportedly allows Sandals to bypass local service providers by bringing in their own transportation fleets tax-free. Sandals is permitted to import 20 luxury vehicles for VIP transport, completely cutting local taxi drivers out of the lucrative hotel business.
“The resort will also import a fleet of maritime vessels, including two motorized boats, three dive boats, three glass-bottom boats, two catamarans, and two rescue boats, effectively monopolizing the tourist excursion market and cutting out local water taxi and tour operators”.
On the labor front, Thomas dismissed a contract clause requiring 70% of construction employees to be local as “b*******,” citing past history where the resort brought in foreign labor for tasks like block making.
“The contract also includes broad waivers on work permits, which Thomas argues allows the company to bring in top-level staff from abroad while relegating locals to “menial jobs” like gardeners and room changers”.
Adding insult to injury, Thomas reported that the pedestrian entrance to the historically important Mount Wynne beach has been locked and marked as “private property, no trespassing”. He lamented that locals are being barred from a beach they have used for generations, comparing it to the loss of Godahl Bay in Canouan.
Drawing a dark parallel, Thomas reminded listeners of the political corruption scandal in the Turks and Caicos, where former Premier Michael Misick and his associates were brought down after investigators found they received up to $1 million USD from Sandals for favorable land deals. While stopping short of directly accusing the St. Vincent signatories of receiving kickbacks, Thomas noted that Sandals has a public record of using its financial influence to secure highly favorable political deals.
Declaring himself “flabbergasted” and “disgusted,” Thomas used his platform to ring the alarm, directly calling on the current government under Prime Minister Dr. Godwin Friday to firmly reject and revoke the deal.