Sapphire Condos Open
Thompson cuts ribbon at official ceremony
PRIME MINISTER David Thompson says that 54 new luxury Sapphire Condominiuns will be a boost for Barbados’ economy.
Giving the feature address at the official opening ceremony of the Dover, Christ
Church property, he said there would also be “a continuous flow of foreign exchange”. “The sale of these condominiums – to people mainly from the markets that we depend on for tourists and to Barbadian citizens as well, will lead to a significant injection and circulation of financial resources into the Barbadian economy.
“And since many of the owners are willing to place rooms into the pool for short
term rentals, there will be a continuous flow of foreign exchange into the country.
Needless for me to say they will also create employment for Barbadians,” said
Thompson.
The Minister of Finance also told the audience attending the opening of the public/
private sector joint venture project, that “Government had to protect taxpayers’
interests and therefore would not be throwing away its money”. “Just as how good companies relentlessly try to maximise their shareholders’ returns, a responsible Government must ensure that the people’s money is well spent and pays dividends.
“I can therefore assure you that we are not going to throw money into a
bottomless pit: nor will we sell off state-owned property at a huge loss.
“There will be no more ‘Eastry House give-aways’. For those waiting in the wings to purchase property owned by Gems of Barbados for a pittance, my answer is clear and straightforward: Forget It,” said Thompson.
Sapphire Condos are located on the site where the Dover Convention Centre once
stood and is a joint venture venture known as Sapphire Inc., between Government’s Hotel and Resorts Limited, Consumers’ Guarantee Insurance (CGI) and Jada Development.
www.BarbadosToday.bb
PRIME MINISTER David Thompson says that 54 new luxury Sapphire Condominiuns will be a boost for Barbados’ economy.
Giving the feature address at the official opening ceremony of the Dover, Christ
Church property, he said there would also be “a continuous flow of foreign exchange”. “The sale of these condominiums – to people mainly from the markets that we depend on for tourists and to Barbadian citizens as well, will lead to a significant injection and circulation of financial resources into the Barbadian economy.
“And since many of the owners are willing to place rooms into the pool for short
term rentals, there will be a continuous flow of foreign exchange into the country.
Needless for me to say they will also create employment for Barbadians,” said
Thompson.
The Minister of Finance also told the audience attending the opening of the public/
private sector joint venture project, that “Government had to protect taxpayers’
interests and therefore would not be throwing away its money”. “Just as how good companies relentlessly try to maximise their shareholders’ returns, a responsible Government must ensure that the people’s money is well spent and pays dividends.
“I can therefore assure you that we are not going to throw money into a
bottomless pit: nor will we sell off state-owned property at a huge loss.
“There will be no more ‘Eastry House give-aways’. For those waiting in the wings to purchase property owned by Gems of Barbados for a pittance, my answer is clear and straightforward: Forget It,” said Thompson.
Sapphire Condos are located on the site where the Dover Convention Centre once
stood and is a joint venture venture known as Sapphire Inc., between Government’s Hotel and Resorts Limited, Consumers’ Guarantee Insurance (CGI) and Jada Development.
www.BarbadosToday.bb
