Jungle Bay Resort owner explains how financing of the luxury resort will be conducted while awaiting long term investment under the CBI
The owner of Jungle Bay Resort has sought to clarify how he will go about financing the construction of the luxury resort while awaiting long term investment under the country’s citizenship by investment program.
The resort which is being relocated from Delices to Soufriere due to damages caused by TS Erika in August 2015 is being funded by the Citizenship by Investment Program.
Sam Raphael says the money that will be used to begin construction on the new Jungle Bay is not funds that are readily available.
He says investment under the CBI program will have to come on board in financing the resort.
Raphael says however other short term investments have to come in place to get construction underway, while the process of finding long term investors under the CBI is looked at.
He was speaking on the state owned radio.
Meanwhile Raphael is calling on all appropriate persons to continue to educate the public on the processes and facts of the Citizenship by Investment Program.
Owner of Jungle Bay Resort Sam Raphael
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