Barbados’ economic prospects received a resounding vote of confidence from Sagicor with commencement of work on The Estates at St. George, an adult wellness and amenity-driven community with continuing care facilities.
With the theme, “Live Where You Love”, The Estates is the first community of its kind in Barbados and the Caribbean, placing Sagicor on the leading edge of investment in services specially designed for the island’s adult population.
With an investment of over $170 million Barbados dollars, The Estates is expected to earn foreign exchange for Barbados and generate employment, first in construction and general supply services, followed by opportunities in the health and wellness sector, with a focus on catered care and active lifestyle amenities.
Edward Clarke, Executive Vice President & General Manager of Sagicor Life Inc. in Barbados while speaking at The Estates at St. George, Boarded Hall, he indicated, “following infrastructure work, construction of the first phase will commence in the first quarter of 2020, and that there are plans to hand over keys to the proud owners before the end of the following year.
“Sagicor is very pleased to be the promoter of The Estates at St. George, which we see as very timely, firstly because of the contribution it will make towards our ongoing economic transformation and recovery initiatives, and secondly as it continues Sagicor’s tradition of championing health and investment aimed at improving the lives of people in the communities where we operate,” he continued.
Stephen McNamara, Sagicor Group Chairman added, “This BDS$170 million investment reflects Sagicor’s continued commitment to Barbados and the wider Caribbean. The Estates at St. George will be presented with an array of lifestyle operations, services and amenities to their interest and abilities in a secure environment. When complete this project will make a direct contribution to the economy from the generation of net foreign exchange earnings through direct investment. It will also generate investment not only in welfare, but in construction, tourism and in the general services and supply sectors.
Essential to the operation of this facility is the requirement of trained medical specialists and care givers. In an effort to cultivate our practitioners from right here in Barbados and the region, we aim to explore a partnership that will see us at Sagicor, and managers of the facility Origin Inc. in Canada, partnering with the Barbados Community College, to upgrade their existing training curricula to generate a stream of trained caregivers. Whilst some of these graduates will be absorbed into the adult care services segment of the Barbados service sector, some of them will have the opportunity to be employed at “The Estates at St. George”. This investment also improves the very fabric of our nation through the creation of educational and employment opportunities,” he added.
McNamara continued, “Opportunities also abound for the country to gain immediate tax revenues through job creation. Furthermore, we will create long-term investment instruments in both local and foreign investors. We will seek to engage the Barbadian and Caribbean diaspora with this attractive investment opportunity. In short, the possibilities and the advantages are boundless. It is not only about waiting to see how the country will improve or what initiatives the government will introduce, but as a corporate leader, to stimulate the economic activity and
development that we wish to see, taking bold steps to do so and building up a Caribbean of which we can be proud.
We see the potential of the region and we not only support it but seek to enable it. This project therefore illustrates our confidence and commitment to Barbados and the wider Caribbean, and we commit to the pursuit of opportunities where we can contribute to establishing the region as a force to be reckoned with,” (NB)