Oceanside CA– CBRE has announced the sale of developable land along the northeastern coast of Antigua. The portfolio is comprised of approximately 987 acres on the mainland, plus three adjacent islands for a combined total of approximately 1,522 acres.
Marketed as part of the Stanford International Bank dissolution, the land was acquired by YIDA International Investment Antigua Limited for US $60 million. The Chinese firm plans to create “Singulari,” a multi-billion dollar mixed-use project including a golf resort, several five-star hotels, a horse track and residences stretching from the Crump Peninsula to Guiana Island.
“This transaction is an economic game changer and represents a tremendous opportunity to elevate Antigua’s position as a major Caribbean destination,” said Jeff Woolson, the managing director of CBRE’s Golf & Resort Group. “Singulari will be the largest resort development in the Caribbean since Baha Mar in the Bahamas”.
CBRE’s United States-based Golf & Resort Group teamed with the Caribbean office of UK-based real estate advisory firm Smiths Gore and local agent Gilbert Boustany to collectively represent the Joint Liquidators of the Stanford International Bank in this transaction.