Antigua.news Antigua and Barbuda Investors are rushing Willoughby Bay Project

Investors are rushing Willoughby Bay Project

23 August 2022 - 19:34

Investors are rushing Willoughby Bay Project

23 August 2022 - 19:34

About ten local investors have expressed keen interest in investing in a major project earmarked for Willoughby Bay in Antigua and Barbuda, according to Ambassador Daven Joseph; who spearheads the project.

He told reporters on Monday that while these investors are willing and able, they are concerned about the infrastructure around the project.

“We need to build out the infrastructure because this is one of the issues that are of great concern to potential investors. They want to ensure that we have a good infrastructure development component so that the value of their properties will be commensurate with the environment,” he said.

To facilitate the move, a Willoughby Bay Infrastructure Development Program, which Joseph said will include securing funds through a special CIP offering already approved by the Cabinet.

The Willoughby Bay project is being spearheaded by the government of Antigua and Barbuda.

They announced plans for the project back in 2020, with the intention to boost the economy when the Covid pandemic was first announced.

The project, announced in May 2020, is being spearheaded by a government-led committee and was intended to boost the economy during the peak of the Covid pandemic.

It was also geared at empowering residents to own a piece of “the rock”.

The government has said that residents in the communities of St Phillips, Newfield, Bethesda, and the general Willoughby Bay area will receive first preference for the land development.

The entire initiative that is costing about $300M.

About The Author
<a href="https://antigua.news/author/shermain-bique/" target="_self">Shermain Bique-Charles</a>

Shermain Bique-Charles

Shermain Bique-Charles is an accomplished journalist with over 24 years of dynamic experience in the industry. Renowned for her exceptional storytelling and investigative skills, she has garnered numerous awards that highlight her commitment to journalistic integrity and excellence. Her work not only informs but also inspires, making her a respected voice in the field. Contact: [email protected]

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About The Author
<a href="https://antigua.news/author/shermain-bique/" target="_self">Shermain Bique-Charles</a>

Shermain Bique-Charles

Shermain Bique-Charles is an accomplished journalist with over 24 years of dynamic experience in the industry. Renowned for her exceptional storytelling and investigative skills, she has garnered numerous awards that highlight her commitment to journalistic integrity and excellence. Her work not only informs but also inspires, making her a respected voice in the field. Contact: [email protected]

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