Hideaway True Blue
it so you can reap the benefit of it. Helping
fellow Grenadians to see the value of this CBI
program and making it work for them interests
me much more than accumulating for myself."
Nixon believes the two most important things
one needs before marching on the CBI route
as a developer are 1. You must have a good
business plan and 2. You must have some sort
of equity in the project, whether that be land,
property and or capital so that you have some
equity in the game.
“An important aspect to consider is that
people don’t buy off plan anymore, as there are
many horror stories of people investing in a
project that never gets built. So this is not good
for a government and tarnishes the industry.
What's very important to differentiate is that
the money received from CBI investment is
not your money it is Investors money who seek
a ROI.
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“The commitment of the Developer I believe
should be to build the project and don’t think
that you can run away with peoples money.
We have a very disciplined CBI program here
in Grenada and it has some of the strictest
criteria in the region. It is a well aged and
run program and the more people realize this
then the more Grenada will attract the level of
Foreign investment it requires. Investors are
gaining confidence in Grenada and the more
projects we see coming out of the ground and
becoming reality the more confidence grows
worldwide in Destination Grenada. Once we
start competing with other jurisdictions on
price then I believe its a race to the bottom.
We should always look to improve our offerings
make a better product but never reduce our
pricing as a reaction to other countries pricing
for their CBI programs.
The Integrity of Grenada’s CBI program
stands very strong and rightly so".
Citizen
Citizen Grenada
Grenada
Nixon continues “I would love to see other
types of business get involved in Grenada’s
CBI program other than Real Estate projects.
Agriculture, Aquaculture, Renewal Energy
projects - all could benefit from the program.
The minimum investment amount into
a Grenada CBI Real Estate project is
$350,000usd as per government outlines, but
that amount has no upper limit so if someone
wants to invest 10 million into a project then
they can".
“Investors are not stupid so they tend to look
for solid projects that are being built, are real,
that offer a good return and in some instances
offer some guarantees." Nixon clarifies
“People talk about buying a passport or that
we are selling passports, but really what
Grenada’s CBI program is doing is providing
an investment opportunity with a benefit of
been granted citizenship".
As it has been stated elsewhere in this
publication, when it comes to Grenada’s
CBI program, foreign Investors can choose
between investing in the Governments National
Transformational Fund for a fixed one off fee of
$200,000usd + fees, or invest in a Government
approved project such as Hideaway True Blue
for a minimum amount of $350,000usd.
Whilst not revealing how many investors
Hideaway True Blue has attracted through
the CBI program in total, Nixon says “I do have
room for more”
Nixon outlines “Our business model is that we
offer full title and deed for the condominium
with an option to buy back. I don’t believe in
shares as it can get messy and when you do
shares you don’t believe that you have a good
product as you are trying to make more money
from doing less. “
He further states, “We won’t be doing any
type of fractional ownership either of selling
one property over and over again. I’m here to
make a good clean project and to be able to
sleep at night with peace of mind.
This is just my personal view but we don’t look
at any kind of shady business. We want this
business to stay in the family hence ultimately
we would like to accumulate enough funds so
we can enforce our buy back policy and regain
full ownership of the property.
Richard Nixon concludes by saying “For the
“
to get me here. But the project has been an
unparalleled success. We have had our hiccups
but we are amazed that we have made it, and
I am living proof that Grenada’s CBI program
can be of tremendous benefit to our local
entrepreneurs".
In fact, at time of going to press, Richard
“
On a Consultancy level, I am willing to help any local who
may need help in structuring their business plan to
include a CBI portion of their debt financing
“
“
Hideaway True Blue
The Integrity of Grenada’s CBI program
stands very strong and rightly so.
Foreign readers of this publication I would
urge them to get involved in Grenada’s CBI
program and invest in local companies.
Grenada’s CBI program is a means of
investing in the people of Grenada. This is
where you can really help the economy and
transform people in many social, educational
and nation building programs.
“Now I feel a proud humility. It took a lot
Citizen
Grenada
Citizen
Grenada
Nixon and his Hideaway True Blue
development remains the only local natural
born developer in the entire Caribbean
region of CBI jurisdictions, that has
completed a CBI Real Estate project in their
own country.
Kudos, to Mr Nixon, who now prepares
for phase 2 of his development plans for
Grenada…we’ll keep you posted! CG
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