St. John’s Antigua: A Treasure in Paradise was launched yesterday (Monday) on the shores of the World Renowned Dickenson Bay Antigua. Some 50 sub agents were treated to a first-hand view of the site where the Pleasure Cove Resort and Spa will be erected on property owned by the Ritcil Group.
The brain-child of Jason George-John, Pleasure Cove which is a 47 unit exclusive boutique hotel, is an Antiguan government approved Citizenship by Investment project. Minister of Tourism the Hon. Asot A. Michael who was on hand for the launch ceremony, praised the project as exemplary for more reasons than one. Firstly, the project is unique as it is 100% Antiguan owned and shows the passion of the government to empower locals and secondly, the location is prime and thus guarantees the project’s success.
“The development will enjoy an ideal location on a strip of land well known for its tourist attractions and activities…these include excellent restaurants and other nightlife and entertainment hotspots”, Minister Michael noted. He continued, “With the property also being 10 minutes from the airport, it maintains that delicate balance between tranquility and convenience that is ideally suited to either the leisure or business traveler.”
The 50 sub agents contracted by Citizenship Real Estate Investment, a member of the NTL Group and partners of the Ritcil Group will seek to lure prospective buyers for the one and two bedroom condominium units. The new owners according to Minister Michael will have an opportunity to participate in a revenue pool where they will earn a percentage of the rental income. This signals the innovative use of the Citizenship by Investment Program as well as the Condominium Act of Antigua and Barbuda by the Ritcil Group.
“Pleasure Cove Resort and Spa is not only adding to our overall room capacity, but is an incredibly important property for the Antigua and Barbuda portfolio. Trends are showing how smaller intimate properties and second homes which double as a vacation and investment property are becoming more and more popular for those seeking luxury and something different”, remarked the Hon. Tourism Minister.
Pleasure Cove Resort and Spa will boast among other amenities a five star restaurant as well as a full service spa.