Last Updated on Thursday, 13 November 2014, 1:17 by GxMedia
San Juan, Nov 12 (EFE).- Dominica’s government has signed an agreement with Range Developments for the construction of a luxury hotel on the Caribbean island, the first approved real-estate project under a program that offers citizenship to investors.
The Cabrits Resort Kempinski Dominica will be a 101-room hotel on Douglas Bay, on the island nation’s north shore, Kempinski Hotels said in a press release Wednesday.
The resort will be surrounded by the Cabrits National Park, an area known for its natural beauty, the hotel group added.
The luxury hotel is the first government-approved real-estate project under Dominica’s Citizenship By Investment Program. Investors can obtain citizenship by purchasing a share in the development for $200,000.
Dominica’s government has chosen a “partner that has experience in the Citizenship By Investment business and an operator that is well known for the high quality of its hotels,” Prime Minister Roosevelt Skerrit said.
The hotel is Range Developments’ second project in the Caribbean, following the launch of the Park Hyatt St. Kitts, due to open late next year.