Nail Bay to get five-star hotel

CM: Agreement signed in December

BY LUIS ANDRES HENAO
BVI Beacon May 10, 2007

The BVI government signed a development agreement for the construction of a five-star hotel and luxury villas at Nail Bay, Chief Minister Dr. Orlando Smith said at Legislative Council on Thursday.

The agreement with Virgin Gorda Beach Club Limited, Virgin Gorda Investment Company Limited and Nail Bay Properties Limited, signed December 16, 2006, allows the construction of a $50 million, 100-unit hotel. The project also includes the construction of townhouses, restaurants, bars, swimming pools, a gift shop and a spa, Dr. Smith said.

“The developers intend to expend a minimum of US $50 million dollars over a period of six years in carrying out the development… ,” reads item 15 of the preamble to the development agreement.

The agreement is public record and can be obtained from the High Court Registry,according to Dr.Smith.

Opposition leader Ralph O'Neal asked if the applications of persons who applied for non-Belonger landholding licences in the Nail Bay area between January 2004 and June 2006 would be considered. Dr. Smith said they would be granted and that “a number of such applications have recently been approved by Executive Council.”