Sagicor is preparing to launch a major effort to woo Barbadians living in some major international cities into buying a prime piece of real estate in their homeland. Buoyed by a positive response in Barbados and Trinidad and Tobago, the team behind Sagicor’s $170 million project The Estates in St George will be journeying to London, New York and Toronto to have a conversation with the Bajan diaspora.
This was announced by Claire Jordan, The Estates’ project administration manager, and Terra Caribbean’s chief operating officer Hayden Hutton, whose firm is leading the sales effort at the rural “adult active lifestyle community
project” on which construction of 120 independent living condominiums will start early next year.
In addition to the first set of residences, the first phase will include construction of a coffee shop, convenience store, doctor’s offices, gym and spa, clubhouse and restaurant.
Speaking after a recent open day that attracted about 250 people, Jordan told the Sunday Sun that “action diaspora” would be the focus of a major sales and marketing drive. “We had a couple from the diaspora at the open day. We think this is a perfect opportunity for the diaspora because they often come back and then have challenges with contractors or lawyers. This is offering them a turnkey route to come back.” “If we
can provide quality accommodations and community and, hopefully, a First World medical facility, then we have got, we think, all of the ingredients that are really critical for the diaspora to give back but in a way that benefits them.” Hutton, who reported there were 54 reservations for residences at the project, said having a “meaningful road show” in London, New York and Toronto would expose the “unique” project to a wide audience, especially the diaspora.
“In terms of the people in Barbados who have been interested in the project, it is the full spectrum from people who are getting ready to retire and a lot of young people, including those who are thinking of making an investment for their parents,” he said. “There is nothing like this in St Lucia, Grenada, Trinidad, certainly in the southern Caribbean, so from a development point of view, it’s easy to go down the West Coast and put up apartments or more villas but we don’t need more villas. We have got more than enough.” (SC)
Source: Sunday Sun, September 15, 2019