Sawiris’ JDC to inject US350mln investments into Grenada
Joyau des Caraibes Ltd (JDC), whose main financier is Egyptian Billionaire Naguib Sawiris, announced that it is poised to inject up to USD350mln into hospitality sector in Grenada’s Port Louis Island.
JDC is set to build a five-star spa at Port Louis’ Tufton Hall Plantation on lands the company has bought from Port Louis Limited and Mount Cinnamon.
JDC accomplished the construction of the five-star Silver Sanders resort ingGenada at USD125mln investments.
JDC plans to build first-class hotel with a 500-room capacityand other related facilities at investments worth US350mln.
“ The concept of the Port Louis development has been the brainchild of Peter de Savary. For the past 12 years, the positive achievements of Port Louis have been lauded and acclaimed globally,” according to a joint press release from Port Louis Limited and Mount Cinnamon.
In his National Address, Prime Minister, Dr Keith Mitchell, announced the project without providing details.
“We are also buoyed by the fact that in the midst of this crisis, investor confidence remains high. The recent acquisition of Port Louis and Mount Cinnamon, with plans to add up to 500 new hotel rooms, in an investment worth more than US350 mln, speaks volumes for the recovery potential of our economy,” said he.
Grenada is a sovereign state in the West Indies in the Caribbean Sea at the southern end of the Grenadines island chain. Grenada consists of the island of Grenada itself plus smaller islands.
It’s located north west of Trinidad and Tobago, northeast of Venezuela and southwest of Saint Vincent.
The country had an estimated population of 112,200 in July 2018. Grenada, whose capital is St. George’s, is also known as the Island of Spice due to its production of nutmeg and mace crops. Its size is 348.5 sq kilometres and attracts tourists owing to its warm nice weather, spectacular landscapes and wonderful beaches.
