Dominica Prioritises Building Its First International Airport This Year, Funded by Citizenship by Investment

LONDON, Aug. 24, 2020 /PRNewswire/ -- The government of the Commonwealth of Dominica announced last week that it has approved the 213 properties it needs to acquire in order to build the island's first international airport. The government had been saving US$5 million every month over the past few years from the Citizenship by Investment (CBI) Programme specifically for the construction of the new airport.

After extensive amiable negotiations with land owners, Prime Minister Roosevelt Skerrit said that the government has made major progress towards the much-anticipated construction of the new airport. A group of international experts will first carry out a series of geotechnical studies in August. Besides the construction of the airport itself, the government will build new homes for some impacted residents.

"We have placed the international airport as priority number one for the Government," PM Skerrit said earlier this month. "I am redirecting a lot of state resources in terms of human resources, engineers and surveyors, to the project," he added.

Last week, the Prime Minister announced: "Progress has been made towards the construction of the international airport. We have completed the necessary surveys and Cabinet has approved for the acquisition of 213 properties required for the airport construction, of which 47 are farms. The total market value of these properties is estimated at 50.7 million dollars. Negotiations have been completed with 25 property owners. Government will begin to make payments to the property owners and farmers in August, 2020. Geotechnical surveys will be undertaken by September, 2020."

Dominica is one of the least affected countries by Covid-19 and has an attractive ecotourism offering. Borders reopened for tourists on August 7th. Until the new international airport is complete, visitors can reach Dominica through connecting regional flights.

Over the past few years, the government has been working with hotel developers and investors to turn Dominica into a 5-star destination. Ever since, the Nature Isle of the Caribbean has modernised its infrastructure and welcomed ultra-luxury yet environmentally-friendly resorts. It did so with funding from its reputable Citizenship by Investment Programme. Foreign investors and their families, upon passing due diligence checks, can obtain second citizenship from Dominica either by making a contribution to the Economic Diversification Fund or investing in pre-approved real estate.

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SOURCE CS Global Partners

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