Emile Elias

FLASHBACK: Executive chairman of NH International (Caribbean (Ltd) Emile Elias at his St James office in July.

PORT OF SPAIN-based NH International (Caribbean) Ltd, has been selected as the main structural contractor for a luxury hotel development called Six Senses at La Sagesse beach in Grenada.

Range Developments, an investment and hospitality company, awarded NH the contract to construct the resort, which will comprise a number of villa units with between one and four bedrooms.

The value of the initial two packages—comprising all earthworks/foundations and all building structures using our specialised reinforced concrete system—awarded to NH is US$21 million ($141 million).

Construction is expected to start in October and last for 18 months.

The Six Senses La Sagesse, Grenada resort is a government-approved project under the island’s citizenship-by-investment (CBI) programme. Investors can obtain citizenship of Grenada through an investment in the Six Senses development for US$220,000.

In a statement yesterday, Range Developments described NH as a regional leader in the construction industry “with an impressive track record of completed hospitality, housing and civil engineering projects across the Caribbean.”

NH was also the structural contractor of Range Developments’ project in Dominica that opened in 2019—the Cabrits Resort & Spa Kempinski, Dominica. NH recently completed the refurbishment and upgrade of the Rex Resort into a five-star Royalton Hotel in Grenada.

Executive chairman of NH, Emile Elias, congratulated the Prime Minister of Grenada and the board of Range Developments on this major milestone.

“NH is honoured to be a part of the construction of the first Six Senses Resort to be built in the Caribbean, La Sagesse Grenada,” he said.

“We pledge our continuing contribution towards the development potential of Grenada’s tourism sector and look forward to partnering once again with Range Developments on this prestigious initiative that is the epitome of luxury and sustainability.”

Kamal Shehada, managing director and member of the board of Range Developments, who oversees the construction of Range Developments’ hotels, said: “We are excited to welcome the team of NH onboard and entrust them with construction of our third citizenship-by-investment project in the Caribbean. We have already built a successful business relationship with NH and the synergies in our teams’ work will only have a positive impact on the construction process.”

Mohammed Asaria, managing director and member of the board of Range Developments, welcomed the appointment of NH.

“Challenging times define companies,” he said. “Many participants in the citizenship-by-investment industry have retreated and retrenched. We are fulfilling our commitments to our investors and all stakeholders. It shows why we are the most trusted developer in the sector, but also our confidence in Grenada and its citizenship by investment programme.”

Asaria said: “NH committed to hire locally rather than recruit scores of foreign workers—for us this was a key deciding point for us in the tender proces

The Six Senses La Sagesse, Grenada resort is Range Developments’ third project in the Caribbean. Range Developments is the world-renowned hospitality developer of citizenship-by-investment funded resorts across the Caribbean.

Grenadian Prime Minister Keith Mitchell, welcomed the progress being made on the project. “We are delighted that the project has advanced to this stage. Range is a key partner in the development of Grenada’s tourism industry bringing much needed investment and hundreds of employment opportunities for our people given the very challenging environment that we are currently facing. We look forward to the timely completion of this project and the creation of even more employment opportunities for workers in the tourism industry.”


NEW businesses are emerging in Trinidad and Tobago, despite the economic fallout caused by Covid-19 and one such business is the Mansion restaurant located at the corner of Maraval Road and Rust Street in St Clair.

The Mansion restaurant is a subsidiary of NCG Enterprises and opened its doors to the public last week.

WESTMOORINGS-BASED Guardian Holdings Ltd (GHL) last week floated a J$13.4 billion (about US$90 million) bond, some of the proceeds of which will be used to acquire the insurance and annuities business of an insurance company in Jamaica, which is a wholly owned subsidiary of the Trinidad and Tobago insurance company’s Jamaican parent, NCB Financial (NCBFG). NCBFG became the majority 62-per cent shareholder of GHL in May 2019, after a protracted takeover bid.

WHOLLY State-owned crude oil producer, Heritage Petroleum, is prepared to sell the company’s crude to the Pointe-a-Pierre refinery, if that billion-dollar State asset is transferred by the end of October to Patriotic Energies, the company formed by the Oilfields Workers’ Trade Union (OWTU).

IN our two previous articles, we shared some of the tools that you can use to get started with investing, as a means of making your money work for you. We focused on some of the available resources on our investor education website www.investucatett.com such as: a risk profile test, Investor Education Manual and Work Book and Online course, blog articles, life stages and our Investing Game, Investor Quest tt—www.investorquest-tt.com.

This year was supposed to bring great things for Guyana.

ExxonMobil discovered massive oil deposits off the South American country’s Caribbean coast in 2015, and Guyana sold its first cargo of crude oil this February. As production ramps up, its first stage offshore wells were projected to produce 750,000 barrels a day by 2025, tripling the size of Guyana’s economy, from US$3.4 billion to US$13 billion.