Premier and Minister of Finance Dr. Natalio Wheatley has told the House of Assembly that Prospect Reef will have a developer by the first quarter of 2027, though the timeline still requires negotiations, approvals and financing before any construction can start.
The Cabinet has already backed recommendations from the Prospect Reef Management Company to move ahead. Government will now send out a request for proposals to investors who made it through an earlier expression-of-interest round.
Once investors are evaluated and a preferred developer emerges, the board will put a recommendation to Government. A Cabinet paper will then seek permission to begin talks on a development agreement. The Premier acknowledged he cannot yet say when the project will finish or open, and noted that detailed designs, planning approvals, financing and other conditions still lie ahead.
A property ownership question had held up the process earlier. The Premier said he set in motion a transfer of the land from Government to the Prospect Reef Management Company through the Ministry of Environment, Natural Resources and Climate Change.
Regarding the resort itself, the Premier laid out the goal: "Our objective is a high-quality hotel with proper conference facilities." The property will serve visitors as well as people coming for legal, financial and business services, he explained.
Beyond Prospect Reef, several other tourism and marina schemes are at work across the islands. Projects tied to Eustatia, Biras Creek, Mosquito Island, JOMA and an unidentified West End development are among them. The Premier also mentioned expansion at Nanny Cay, fresh prospects at Village Cay, reopened properties after major work, and Brandywine Bay's growth as a tourist site.
Many sit in planning phases awaiting regulatory sign-off. The Premier stressed that the ventures he named are genuine prospects moving forward: "I've only mentioned serious developments that will be moving forward."
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