The Government of Antigua and Barbuda has successfully concluded negotiations with Sandals Resorts International over outstanding tax obligations, securing a settlement agreement valued at EC$6.5 million.

Cabinet welcomed what they are calling an amicable resolution, describing it as a demonstration of the Government’s commitment to sound fiscal management while preserving strong relationships with major investors that continue to play an important role in the country’s economic development.

A significant portion of the settlement, EC$5 million, has been earmarked to begin development of the long-awaited Renaissance Park at Fort James according to the government.

The ambitious project is being positioned as a transformative recreational and tourism destination that will revitalize the historic Fort James area and create new opportunities for leisure, commerce and community engagement.

According to Cabinet, plans for the Renaissance Park include a marina, amphitheatre, swimming pool and bar facilities, boutique hotel accommodations, Airbnb-style properties and commercial retail spaces. Preliminary assessments and surveys are already underway as planning advances.

The discussions also extended to broader national development initiatives. Cabinet was informed that construction on several housing office complexes is expected to commence shortly as part of efforts to improve public infrastructure and address urban development needs.

In its continued push to combat urban decay, Cabinet approved a series of initiatives aimed at improving the appearance and functionality of communities across Antigua and Barbuda. These include the installation of new directional, road and traffic signs throughout the country, funded through the Tourism Fund.

Additionally, work will be accelerated to repaint road markings and upgrade bus stops islandwide.

Cabinet expressed confidence that the combined investments in tourism infrastructure, urban renewal and public amenities will preserve and enhance the nation’s historical and cultural assets, stimulate economic activity and create new opportunities for residents and visitors alike.