Investment Never Looked Better

03 Feb 2017
L-R: President of GP Group Georgi Vassilev, and Chief Executive Officer for overseas operations, Cristo Pancheff

A delegation from Invest Saint Lucia - comprising Chairman Pinkley Francis, Deputy Chairman Jodi Boodhoo and Chief Executive Officer, McHale Andrew - travelled to Bulgaria from January 24th to 28th 2017, for a series of project site visits, meetings and discussions with the principals of the GP Group and their associated clients, investment partners and Government officials. 

The purpose of the visit, which was funded entirely by the GP Group, was to confirm the authenticity and antecedents of the GP Group; observe the projects that they had completed as well as those currently under construction; and to receive various presentations from GP, their sundry associates and Government officials on the work and investment record of the company.

One of the main objectives of the trip was to review the status and outstanding requirements for implementation of the Company’s proposed hotel resort project, which is carded to be built on some 15.1 acres of land in Portalese, Choiseul.

The proposed Sunset Bay Resort, a luxurious hotel and beach resort valued at US $220 million, will comprise a 120-room luxury recreational centre, 40 bespoke villas with ocean views, spa centre, restaurants, sports facilities and a bio garden.

At the media launch of the project in May 2016, the developers projected employment at 200 during the construction phase and an additional 300 during the operations of the resort.

According to ISL’s CEO McHale Andrew, “The entire delegation agreed that the meetings and site visits were rather useful and instructive. It was evident that the GP Group was indeed a serious construction and investment company with an impressive record of successful projects and the capacity for implementing several projects simultaneously.” He added that the Company is currently involved in 26 major projects in Bulgaria alone.

Given their experience in Bulgaria, Andrew is even more enthusiastic about the Sunset Bay prospect and gave the assurance that Invest Saint Lucia, which is facilitating this investment, will continue to work with the respective Government Agencies and Ministries to secure the approvals necessary to realize this project.

The Group’s representatives are expected in Saint Lucia in February for follow up meetings and further negotiations with Government officials.