The Beach House (Photo: WheretoStay.com)

Grenada Gov’t welcomes 2nd hotel investment from Egyptian billionaire

The Beach House (Photo: WheretoStay.com)

Prime Minister of Grenada Dr Keith Mitchell has welcomed a US$20-million investment from Egyptian billionaire Naguib Sawiris for construction on The Beach House.

“This is Naguib’s second project in Grenada and I must say that, to date, he has proven to be a man of his word. Many people present plans and drawings on paper but nothing materialises. Naguib has delivered before and I am fully confident that he will deliver again,” Dr Mitchell said at the ground-breaking ceremony for the project.

Prime Minister of Grenada Dr Keith Mitchell (Photo: CARICOM Today)

“He has demonstrated great love for Grenada and has invested his own resources into the country; there has not been a single Citizenship by Investment application attached to his projects. This clearly demonstrates his personal investment in the country and that is commendable,” the prime minister continued.

The is the second hotel development in Grenada for Sawiris, owner of Silversands Grenada, who last year bought Port Louis Land and Spice Land for two multimillion-dollar, tourism-related projects.

Egyptian billionaire plans tourism developments in Grenada
Egyptian billionaire plans tourism developments in Grenada

More rooms for Grenada

At present, Beach House facility has 30 rooms; however, Sawiris has revealed plans to double the number of rooms to 60. In addition, the renovated Beach House will include an elegant Italian restaurant, spa and gym services, and watersports.

The investor also disclosed plans for other his developments that will further add to Grenada’s room stock, including a second Silversands at Mt Cinnamon and two hotels at Port Louis. With this in mind, he underscored the importance of room stock in attracting flights to the Eastern Caribbean territory.

Silver Sands Resort in Grand Anse, Grenada (Photo: Caribbean National Weekly)

“With the various hotel developments now on stream, they will add a significant number of rooms to Grenada’s room stock. Hopefully, that will kill the jargon from the airlines that they cannot fly here because there are insufficient rooms to accommodate their load,” he reasoned.

In response to this disclosure, Tourism Minister Honourable Clarice Modeste Curwen welcomed the addition to Grenada’s room stock.

Grenada’s Minister of Tourism Clarice Modeste (Photo: NOW Grenada)

“Room stock is a major factor in negotiating with airlines to fly to Grenada; it is what we need as leverage to bring more flights and more people. Therefore, I appreciate the additional rooms that will be coming and in talking to the airlines, we can speak of the significant improvements we are making in that regard,” she stated while detailing the great disparity between the number of hotel rooms in Grenada and other Caribbean countries.

Construction on the Beach House project will begin in June this year and should take 18 months for completion. And according to Prime Minister Mitchell, the development will generate some 200 jobs in the construction phase and up to 100 permanent jobs when finished.