Ground breaking for US$70 million Prime Hotel & Condominiums set for Saturday

BASSETERRE, ST. KITTS, NOVEMBER 14TH 2014 (CUOPM) – The groundbreaking ceremony for the US$70 million Prime Hotel and Condominiums is scheduled for tomorrow morning (Saturday 15th November.

The tourism project, approved under the Citizenship by Investment Programme is to be located on seven acres of land purchased from S. L. Horsford and Co, Limited.

Giving an overview of the project, Mr. Farron Lawrence of SKN Homes pointed out that the development will be constructed with the foothills in the background and overlooking the proposed site for the National Park with the City of Basseterre, Port Zante, the Robert L. Bradshaw International Airport and the Caribbean Sea in the foreground.

The project will comprise 9 buildings with a 70 to 100 hotel located in the main building with hobby and reception area, restaurants, conference room, gift shop, sports bar, Spa and gymnasium, roof top patio, swimming pool and other common area facilities.

Mr. Lawrence said at the unveiling that each building will have approximately 36, 1-bedroom condominium units. Each building will have a roof top pool and leisure area and an entertainment area as well.
He said the expected economic impact in this project will see direct foreign investment of approximately US$70 million.
“We see approximately 150 direct jobs during construction, and again we are seeing approximately 100 direct jobs during operation as well as various economic spinoff,” said Mr. Lawrence said.

The name of the development is the Prime Hotel & Condominiums and the name of the developing company is Prime Development Ltd. which is a locally-registered company in St. Kitts and Nevis.

The key players are Mr. Abbas Fahim the senior investor and partner in this development and Mr. Sirous Motevassel, also an investor as well as a business consultant for the project and SKN homes which is owned by Nevisian Mr. Lawrence as the developer.

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