Prime Minister Allen Chastanet signed an agreement Friday for a development called, the ‘Pearl of the Caribbean’. It is valued at over 2.6 billion US dollars and will occupy a 700-acre site in Beausejour Vieux Fort. The project will comprise a marina, a racecourse, a resort and shopping mall complex, casino, Free Trade Zone, extensive entertainment and leisure facilities, eco-tourism as well as architecturally designed villas and apartments.
Between 500 to 800 jobs are expected to be created during the construction phase.
The project belongs to Desert Star Holdings, a Hong Kong based registered management and investment company.
Friday’s signing marks a significant milestone in the three (3) years of negotiations between DSH Caribbean Star Limited and key agencies of the Government of Saint Lucia including Invest Saint Lucia, the Citizenship by Investment Unit and the Development Control Authority.
The Pearl of the Caribbean is also set to play a lead role in the development of a new horse industry in Saint Lucia, proving a new tourism and entertainment option for international tourists as well as new employment opportunities for locals.
Upon completion, the project will be able to house more than 1,000 racehorses and have the capacity to hold feature racing carnivals, establishing Saint Lucia as a racing and entertainment centre in the Caribbean.
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