Clico Investment Bank (CIB) will provide funding for some prime real estate properties in downtown Port of Spain and Daniel Bay, Antigua.
In Port of Spain, CIB is the major financier for five (5) properties acquired by Transcorp Credit Union. The credit union has agreed to purchase close to 95,000 square feet of land comprising of three (3) spots located on Broadway, and another two (2) on South Quay opposite the City Gate transit hub. CIB has agreed to provide 85 per cent of the funding for the properties which amounts to 33 million dollars. The remaining funds will be provided by the credit union under the approval of the Commissioner of Co-operatives.
Transcorp credit union plans to construct a $500 million office building and entertainment center on the land.
CIB will also fund a multi-million dollar tourism property for luxury villas in Antigua. Former West Indies cricketer, Sir Vivian Richards owns the land being prepared for construction on the eastern tip of Antigua at Daniel Bay. Richards along with Trinidadian architect, John Yearwood, plan to build villas aimed at attracting past and present sporting personalities and has named the resort, Sporting Icons Resort (SIR).
The resort will occupy 20 acres of land and will comprise of two, three and four bedroom townhouses. There will also be a fully equipped clubhouse with spa, sauna, gym, restaurant, tennis court and swimming pool. |
