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St Vincent and the Grenadines’ New Airport on Target for End of 2015

Posted by: In: Real Estate 13 Aug 2015 Comments: 0 Tags: , , , , , , , , , , ,

Possibly one of the most glamourous and exclusive holiday locations in the world is located just off the Caribbean’s St Vincent and the Grenadines (SVG) – the private island of Mustique. Super high-profile guests from the British Royal Family and the world of Hollywood have sought luxurious getaways on the island since the 1950s, largely due to its breathtaking beauty and guarantee of privacy.

However, by the end of this year SVG is to open its first international airport, set to make the stunning islands accessible to many more visitors from all walks of life.

SVG is a fantastic Caribbean destination that holds the promise of 32 gorgeous islands clustered together in a tropical paradise perfect for yachting, scuba diving and enjoying nature or just relaxing in luxurious hideaways.

In recent years SVG has concentrated efforts to develop infrastructure to support and stimulate tourism in the islands including the construction of the Argyle International Airport, due for completion at the end of this year.

Delays have plagued the launch of the airport since the tiny Caribbean nation first announced the project in 2007, now long-since passed its original completion date scheduled for 2011. However, this year has seen construction make leaps and bounds with the airport’s terminal building, featuring a departure lounge, concessions area, a rooftop restaurant and a conference centre with a roof garden and parking all now complete. Paving to the runway has also been completed leaving the total build on schedule for a late 2015 opening.

When complete SVG’s first international airport will have three floors with a total area of 12,065m2 floor space with capacity to handle 1.5 million passengers annually. This will increase the number of visitors to SVG more than five times the number currently passing through the existing ET Joshua Airport.

Argyle Airport has been financed by the SVG government with grants, donations and loans from countries including Cuba, Venezuela, Trinidad and Tobago, Mexico, Austria, Malaysia, Turkey, Qatar and Taiwan. Foreign investment has been easy for SVG to attract for this project due to the outstanding returns investors are likely to enjoy from the boost to the nation’s tourism.

The airport will also provide uplift to SVG’s economy by improving its ability to deliver vital fish exports to markets in the US. Agriculture and Fisheries Minister Saboto Caesar said: ” We have had a problem where we have markets in the United States of America but we do not have the means of getting the fish to the US markets in a timely manner when the fish is still fresh “, noting that the new airport will solve that problem.

” We want the private sector to come on board with their part in tourism, with agriculture. I continue to mention that many of our farmers in St Vincent and the Grenadines will be benefitting significantly from the Argyle International Airport “, he added.

In terms of property investment the scene is set for some outstanding returns for SVG real estate. With some of the more well-known parts of the Caribbean rapidly becoming saturated, SVG has started to attract increasing interest from foreign buyers.

The soon-to-be-discovered islands present many high-value opportunities in its real estate, boosted by the bright outlook for the country’s tourism on completion of the airport. There’s something for every budget in St Vincent & the Grenadines too with increasing opportunities to invest in lower entry level hotel and apartment options, as construction of new homes steps up to meet improving demand ahead of the airport’s completion later this year.


Article by +Roxanne James on behalf of Propertyshowrooms.com

Source:: Property show rooms


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