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16 September 2016 - Business View Caribbean
Business View Caribbean - September 2016 17
Opening
Lines
Resort Developer Announces
Scholarship Program for 50
Students from Dominica
Range Developments, the developer of luxury proj-
ects in the Caribbean, has announced the creation
of 50 scholarships of $1,000 each for students from
the island of Dominica to help them pay for their
studies.
“Education is the single most important thing one
can give a young person,” said Mohammed Asaria,
Vice Chairman of Range Developments. “We are
delighted to be participating in this project; we have
a robust corporate social responsibility program and
look forward to closer links with the people of Domi-
nica.”
The initiative was welcomed by government offi-
cials. “This shows the partnership that we have with
Range Developments and their willingness to give
back to the people. That’s what’s good for us right
now and we really have to cherish it,” said Dr. Colin
McIntyre, Minister for Planning, Economic Develop-
ment and Investment.
Range Developments recently began construction
work on the Cabrits Resort Kempinski, a 160-room
hotel in Douglas Bay, close to the town of Ports-
mouth in the north of Dominica. This is the first de-
velopment under the country’s citizenship by invest-
ment program. Investors can obtain citizenship of
the country by purchasing a share for US$220,000
in a limited partnership structure.
Such citizenship programs are widespread not only
among the Caribbean islands but also within Europe
and the United States, and are aimed at encourag-
ing foreign direct investment. Investors not only
have a chance to invest, but assuming they meet
the stringent due diligence, receive citizenship of
the country, which allows them visa free access to
more than 100 countries.
This is Range Development’s second project in the
Caribbean, following the launch of the Park Hyatt St.
Kitts, due to open within the coming months. Park
Hyatt St. Kitts is employing more than 600 people
during construction, and has been described by Dr.
Timothy Harris, Prime Minister of St. Kitts and Nev-
is, as “a model development for the country.”