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Forthcoming Investment in the hospitality Industry

Two serious investors are in negotiations with the twin-island state, according to Minister of Foreign Affairs and International Trade,Charles Fernandez.

“One of them will be the Nikky Beach Resort, which is a 220 million U.S. dollars investment,” Fernandez stated.

The other investment, he added, is just as vital as the first.

“I met with him, as well as the ministers of agriculture and health, as well as a representative from the area where the development would take place,” he stated.

The minister stated that consultations with investors had taken place.

“These conversations took place right before Christmas, so these possible investments are new,” Fernandez explained.

Meanwhile, Leisure World Properties is going through with plans for an upscale luxury resort, he noted.

“They are ready to leave; they were delayed for six months due to complications with the local attorney in Antigua,” Fernandez added.

The resort would cost between 45 million U.S. dollars to 50 million U.S. dollars and will have 118 rooms, as well as condominiums, bars, and restaurants.

Other hotels are up for sale and upgrading, according to the minister, who said that these initiatives will stimulate economic activity in Antigua and Barbuda, boosting the country’s GDP.

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