Left to right: President GP Group Georgi Vassilev,Chief Executive Officer for overseas operations, Cristo Pancheff.
A European-based company has been granted approval to undertake a major real estate project in Choiseul.
The announcement was made on Thursday at a joint press conference between the developers and senior executives of Saint Lucia’s Citizenship by Investment Programme (CIP).
The company, GP Group (Saint Lucia), is the developer of a luxurious hotel and beach resort in Choiseul, which was announced by Tourism Minister, Lorne Theophilus, in March this year.
The US$220 million resort development will comprise of a 120-room luxury recreational centre, 40 bespoke villas with ocean views, spa centre, restaurants, sports and recreational centre and a bio garden, among others.
GP Group’s Chief Executive Officer for overseas operations, Cristo Pancheff said the company expects to employ some 200 people during the construction phase and another 300 during the operations of the resort.
Pancheff told the media that the company will also look at ways in which to preserve, and in some cases expand the natural resources in that particular area.
Director of Tourism, Louis Lewis said the Saint Lucia Tourist Board (SLTB) is very excited about the development prospects of the project and looks forward to seeing it implemented soon.
“What it really signifies, is the opening of the South-West of the island, which up to now hasn’t been utilized for tourism purposes. And it creates an opportunity for employment in that part of the island. It is also happening at a time when the demand for the population is strong. So we have every reason to believe that it will be a success.”
Lewis said this project will have long term benefits for Saint Lucia, as it would ensure the continuous inflow of people and create a connectivity with the agriculture sector.
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