ANTIGUA—CBRE has completed the sale of developable land along the northeastern coast of Antigua. The portfolio is comprised of approximately 987 acres on the mainland, plus three adjacent islands for a combined total of approximately 1,522 acres.
Marketed as part of the Stanford International Bank dissolution, the land was acquired by YIDA International Investment Antigua Limited for US $60 million.
The Chinese firm plans to create “Singulari,” a multi-billion dollar mixed-use project including a golf resort, several five-star hotels, a horse track and residences stretching from the Crump Peninsula to Guiana Island.
“This transaction is an economic game changer and represents a tremendous opportunity to elevate Antigua's position as a major Caribbean destination,” said Jeff Woolson, the managing director of CBRE's Golf & Resort Group. “Singulari will be the largest resort development in the Caribbean since Baha Mar in the Bahamas”.
CBRE's United States-based Golf & Resort Group teamed with the Caribbean office of UK-based real estate advisory firm Smiths Gore and local agent Gilbert Boustany to collectively represent the joint liquidators of the Stanford International Bank in this transaction.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.
