NEW PROJECT ON ST. KITTS AND NEVIS

Source: IDA

May 14, 1999
A team of development specialists that was the key force in transforming London's Docklands is taking its expertise to sunnier climes. Island Development Associates (IDA) has won a contract to develop the first new town in the Caribbean for more than 100 years. The £300m first-phase project will include 4,000 acres of prime shoreline in St Kitts, the first Caribbean island settled by the British.

IDA is a recently formed group led by Reg Ward, the first chief executive of London's Docklands Development Corporation. Ward is widely credited with transforming the derelict area into a successful office and leisure centre. In partnership with the government of S.t Kitts and Nevis, IDA will be responsible for attracting investment into the area to provide new tourist facilities. These will include hotels, timeshare schemes, a conference centre, a marina for private yachts and plantation-style homes at Dieppe Bay and Sandy Bay, whose waters are considered among the world's finest for deep-sea divers.To speed up completion of the scheme, the islands' government has given IDA a fast track through the planning system. Future phases of development are also being lined up on the 105-square-mile island with further possibilities on Nevis.

The scheme, called Whitegate Developments, will also include luxury homes, which are expected to fetch at least £1.5m each. Ward said: "Whitegate includes some of the finest sites in the Caribbeansuitable for hotel groups and timeshare developers. However, we are determined that developments will be undertaken with full regard for the unique ecology of the coral reefs and tropical rainforest."

The area will be served by a two-lane coastal road and a rail link, both of which will run from the region's airport. All year round the climate has average temperatures of 79F, sea temperatureof 80F and low humidity. The current 1,600 hotel rooms are booked most of the year, and IDA plans to double this number by 2001.

Dwyer Astaphan, tourism minister in St Kitts and Nevis, said: "This is an opportunity to invest in paradise. We are seeking discerning investors and discerning visitors who are not just looking for a suntan and a tourist experience. Our two islands offer a cultural experience as well as the white sand, coconut groves and rum punch image of the Caribbean." Potential investors will be able to enter bids for land in July, when the scheme is officially launched.