Five CBI-Funded Housing Projects Will Benefit 150 Dominican Families
LONDON, July 23, 2020 /PRNewswire/ -- Construction on five new housing projects in Roseau Valley in the Commonwealth of Dominica will begin soon, benefitting around 150 families. A new polyclinic will also be accessible for residents of the Georgetown community. This is according to a recent announcement from Dr Irving McIntyre, Dominica's Health, Wellness and New Health Investment Minister and Roseau Valley MP. Funded entirely by the Citizenship by Investment (CBI) Programme, the projects are part of the island's wider Housing Revolution initiative.
The Housing Revolution aims to build new communities with 5,000 weather-resistant homes as part of Dominica's pledge to become the 'world's first climate-resilient nation'. The government has already built over a thousand homes and handed them over to families across the island. In addition, a resource centre will reach completion soon along with health centres and a modern hospital.
"This health centre will be hurricane-proof and all part of the resilience building efforts in our country," said Prime Minister Roosevelt Skerrit for the Government Information Service. "Last year, [...] we visited all the sites in the Roseau Valley where we are going to have apartments built by MMC. So we have identified the sites in Morne Prosper, Wotten Waven, Trafalgar, Laudat and even Cochrane," said Minister McIntyre. He offered details on other ongoing construction projects: "in Lily Valley in Trafalgar, we have 12 units being built - they should be over within the next two to three months. Nine of these are two-bedroom and three of these are three-bedroom apartments. [...] They are all climate resilient."
The government made the initiative possible through financing from Dominica's popular CBI Programme. Operating since 1993, the Programme enables wealthy investors to become citizens of Dominica once making an economic contribution to either a government fund or buying into selected luxury real estate. Revenue generated from the fund contributes to different sectors of society, including healthcare, education, infrastructure, climate change research and more.
Dominica's CBI Programme is the world's best option for second citizenship. It has remained in first place for the past three years, as recognised by the CBI Index - a report published by the Financial Times' Professional Wealth Management magazine. The study noted that affordability, efficiency and robust due diligence processes are some of the reasons why investors continue to choose Dominica as the best country for second citizenship.
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