$65 Million Dollar Project Underway In Grenada

St George's, Grenada (PressExposure) January 23, 2012 -- Round the Clock PBX VoIP Servi$65 MILLION DOLLAR PROJECT UNDERWAY IN GRENADA

St. George's - Peter De Savary a well-known investor announced his plans to rebuild the Islander Hotel as part of a sixty-five million dollar project catering to an upscale clientele.

On Monday January 23, De Savary had made public that work has already begun on the next phase of his operations here through a partnership with local builder, Anslem LaTouche of Creative Designs, which will see a number of villas being built on the old Islander Hotel peninsula.

Creative Designs work on the first property, an upscaled, 5,000 square foot villa is schedule to begin within two weeks, while clearing of the land is already underway. De Savary was quite determined about avoiding mass tourism which, he felt, was negative to the environment.

Asked why the decision to proceed at this time, despite the World Bank's prediction of another deep recession, 68-year old DeSavary explained that he refuses to sit back and play the waiting game. He believes that the world could, in fact, be headed for a depression and that it would be another ten to fifteen years before "we return to the good old years."

DeSavary is confidence that if, in due course, * Grenada handles its oil and gas opportunity appropriately, it could turn Grenada into the Abu Dhabi of the Caribbean. De Savary spends about half of the year in Grenada and made it clear that he is in it for the long haul. His overall plans call for a billion dollars in investment over the next ten to fifteen years.

*GRENADA'S FOREIGN AFFAIRS MINISTER PETER DAVID AND PAULA GOPEE - SCOON, FOREIGN MINISTER OF THE REPUBLIC OF TRINI- DAD & TOBAGO EXCHANGED INSTRUMENTS OF RATIFICATION FOR THE MARITIME TREATY BETWEEN GRENADA AND TRINIDAD AND TOBAGO

"Treaty on the Delimitation of Marine and Submarine Areas.' The treaty was negotiated in less than two years by teams of highly trained experts from Grenada and T&T that comprised the Joint Boundary Commission.

The negotiations, delimiting where the boundaries of the two countries begin and end, were done purely on the basis of international law, specifically under Article 74 of the United Nations Law of the Sea Convention. Article 74 of the Convention stipulates the terms for delimiting exclusive economic zones between states with opposite or adjacent coasts, such as Grenada and T&T.ces to Reduce Upfront Cost and Justify ROI.

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Press Release Submitted On: January 31, 2012 at 8:20 am
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