ANTIGUA—CBRE has completed the sale ofdevelopable land along the northeastern coast of Antigua. Theportfolio is comprised of approximately 987 acreson the mainland, plus three adjacent islands for a combined totalof approximately 1,522 acres.

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Marketed as part of the Stanford InternationalBank dissolution, the land was acquired by YIDAInternational Investment Antigua Limited for US$60 million.

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The Chinese firm plans to create “Singulari,” a multi-billiondollar mixed-use project including a golf resort,several five-star hotels, a horsetrack and residences stretching from theCrump Peninsula to GuianaIsland.

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“This transaction is an economic game changer and represents atremendous opportunity to elevate Antigua's position as a majorCaribbean destination,” said Jeff Woolson, themanaging director of CBRE's Golf & ResortGroup. “Singulari will be the largest resort developmentin the Caribbean since Baha Mar in theBahamas”.

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CBRE's United States-based Golf & Resort Group teamedwith the Caribbean office of UK-based real estate advisory firmSmiths Gore and local agent GilbertBoustany to collectively represent the joint liquidatorsof the Stanford International Bank in thistransaction.

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David Phillips

David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.