The Minister disclosed that the development plans for the CIP-funded housing projects are currently with the Development Control Authority. The housing projects will be situated in Canaries and Rockhall.

The “Infrastructure Option” is a new addition to the Citizenship by Investment Programme in Saint Lucia. According to the Minister, developers will have the option to construct infrastructural projects and recoup their money once the work is completed.

“We expanded what the Enterprise Option could offer to include infrastructure, roads, bridges, community projects, whatnot,” he said.

Hilaire explains that the developers will construct the project out-of-pocket and will be provided with a commensurate number of passport packages that the developer will sell to recoup their investments at a profit.

“The developer makes their money by selling their shares in the infrastructure. They make their money back from the shares you give them. So they will spend their money upfront. If the program collapses, they lose their money,” he said.

The Minister stressed that the developer has to both spend their own money and complete the project before the passport packages are signed over to them.

“But the developer goes upfront and spends the money and builds the project. And they recover their money plus their profit plus all the other expenses from the shares that you give them.”

This housing project is in a bid to address the housing shortage in Saint Lucia at a cost affordable to average citizens.