12 Dec 2009Blog

Barbados Advocate – Marina expected to attract million$

by Maxwell

The 15-acre Port Ferdinand marina project in St. Peter will attract $750 million in foreign investment and provide 500 jobs while it is being constructed, and 300 when completed.

These new details on the development were revealed during a groundbreaking ceremony at the Six Men’s site yesterday morning, which was attended by Prime Minister David Thompson. Port Ferdinand, the island’s second private marina will have upon completion 120 berths, 96 condominiums in four different styles, it will be developed over a five-year period and the first units will be up for sale in 2012.

He added, “Having taken into consideration all the factors related to this new development, I am proud to inform you that it is highly consistent with our vision for a Better Barbados.”

The Prime Minister then said the project was putting Barbados’ marine resources to good use, and noted that as the island becomes more crowded, we would have to look to the Caribbean Sea for solutions. He was pleased with the amount of foreign exchange, the expected diversification of the tourism product, as well as employment, especially for those with specialist skills in Barbados, that the project would bring.

See full article.