Five star hotel planned for Caye Chapel

Caye ChapelOn Monday, Prime Minister Dean Barrow confirmed that an agreement for the selling of Caye Chapel is inching toward completion. Yumi Limited, a British Virgin Islands Company is seeking to purchase the island from BCB Holdings Limited for $30 million US dollars to reportedly establish a five star hotel. It’s NOT a done deal yet says the PM, but it is one that he welcomes.

Prime Minister Dean Barrow:

vlcsnap-2013-09-03-11h25m20s200I don’t know who Yumi is.  I know that the guy who bought it is the same man who owned Harvest Caye, and sold harvest Caye to Norwegian.  I’ve met with him.  I’ve spoken to him. He brought the Six Senses people down to Belize some time ago, just before he did the purchase agreement.  His plans to put the first five star hotel in Belize on Caye Chapel is very welcome.  One thing I should point out;  he hasn’t yet bought Caye Chapel, you know.  Don’t let us get ahead of ourselves.  He signed, as I understand, a sales agreement.  There must be various undertakings completed, and I think there’s a window for all that to happen before an actual title transfer will take place. But, so far so good, and we welcome the possibility that the purchase will be made fast, and that thereafter there are these plans to proceed with the construction of this new five star hotel.





vlcsnap-2013-09-03-11h16m09s94Following the acquisition of the Port at Commerce Bight last month, Government has committed to upgrading the port to meet international standards. The lease which was granted to The Port of Belize Limited (PBL), was revoked following a long standing battle in the courts. Back in March of 2008, Government served notice to Port of Belize on the revocation of the lease; however, PBL applied to the Supreme Court and obtained an injunction restraining the Minister of Works and Transport from cancelling the lease. But this injunction was discharged by the Supreme Court in July of 2012, making way for GOB to regain possession. However, PBL has gone on record saying that the fight isn’t over and they will look into seeking further court action. The PM says that Government remains steadfast.

Prime Minister Dean Barrow:

You’ll have to ask the Ashcroft people.  As far as I’m concerned the position is quite clear and eminently justified by the facts.  We were absolutely within our legal rights to cancel.  Remember this was only done after they has first obtained an injunction, and the injunction had been discharged.  So even if they decide to go to court, in my view they can’t win. 

Immediately following Monday’s events in Belmopan, PM Barrow left the country to be with his wife in the United States. He will be returning on Friday, but in the meantime, Deputy PM Gaspar Vega will be holding over for him.

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