Investment Never Looked Better

 
21 Mar 2019

At its January press conference, Invest Saint Lucia (ISL) announced plans to develop a number of residential areas including approximately 11 acres of land in Beauchamp, Micoud and approximately 5 acres in Bois Jolie, Dennery.

According to Chief Executive Officer, Roderick Cherry, the Beauchamp and Bois Jolie developments are part of an overall development plan being conceptualized for lands vested in ISL.

“ISL has always made it a priority to focus on the development of residential properties and more so this year, as we wind down the rationalization of lands in Vieux-Fort North and Dennery.

Aside from the 59 lots in Beauchamp, ISL will also be looking to develop at least 25 lots in Bois Jolie.”  

Lots in the aforementioned areas have been designated mixed use, which is a combination of residential and commercial. The lots range from 4000 square feet to as large as 12,000 square feet and will be made available to residents of the respective communities at reasonable rates.

According to David Desir, Lands Administrative Manager at ISL, the proposal has been submitted to the Development Control Authority (DCA) for approval.

“Following the DCA’s approval, ISL will have the contractors proceed with the various infrastructural works which should be carried out over a 3-month period. Given all of this, the lots should be demarcated and ready for sale by the last quarter of this year,” he explained. 

The CEO noted that at least 600 new land owners will result from these residential projects coming to fruition.

“When we began the land rationalization project in the areas of Dennery and Vieux-Fort North last year, our long-term plan was always to continue with this process in the other areas where unplanned developments currently exist. This notwithstanding, we are of the view that if we can provide legitimate parcels of land for sale to residents in areas that are presently undeveloped, then we can circumvent the need to undertake rationalization projects in the future,” he added.

Invest Saint Lucia will continue to keep the public abreast of these land developments as they are realized.