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09/04/13 05:01 AM
09/04/13 05:01 AM
Joined: Oct 1999
Posts: 60,536
oregon, spr
Marty Offline OP

Marty  Offline OP


Our last headline announced an agreement by BCB Holdings to sell the resort island property of Caye Chapel to Yumi Limited of the British Virgin Islands—a US$30 million deal for the purchase of the 265-acre property described as “a true trophy property.”

Today, Amandala asked Prime Minister Dean Barrow to comment on the reported sale of the island, and he indicated his support for plans by the investors “to put the first five-star hotel in Belize on Caye Chapel.”

Barrow said that while he does not know who Yumi is, the person who bought the island is the same person who sold Harvest Caye to Norwegian Cruise Line: Cyril Dennis.

He said that he had met Dennis and had spoken with him about the project. Dennis, said Barrow, had also brought representatives of Six Senses to Belize, just before he did the purchase agreement with BCB Holdings.

“His plan to put the first five-star hotel in Belize on Caye Chapel is something that’s very welcome,” Barrow told journalists today.

According to a Stock Market Wire report, a final closing on the deal is anticipated to take place on December 20, 2013.

There must be various undertakings completed, and there is a 90-day window before title transfer, Barrow said.

“We welcome the possibility that the purchase will be made fast and that thereafter, there are these plans to proceed with the construction of this new five-star hotel,” he concluded.


09/04/13 05:32 AM
09/04/13 05:32 AM
Joined: Oct 1999
Posts: 60,536
oregon, spr
Marty Offline OP

Marty  Offline OP

Five star hotel planned for Caye Chapel

Caye ChapelOn Monday, Prime Minister Dean Barrow confirmed that an agreement for the selling of Caye Chapel is inching toward completion. Yumi Limited, a British Virgin Islands Company is seeking to purchase the island from BCB Holdings Limited for $30 million US dollars to reportedly establish a five star hotel. It’s NOT a done deal yet says the PM, but it is one that he welcomes.

Prime Minister Dean Barrow:

vlcsnap-2013-09-03-11h25m20s200I don’t know who Yumi is.  I know that the guy who bought it is the same man who owned Harvest Caye, and sold harvest Caye to Norwegian.  I’ve met with him.  I’ve spoken to him. He brought the Six Senses people down to Belize some time ago, just before he did the purchase agreement.  His plans to put the first five star hotel in Belize on Caye Chapel is very welcome.  One thing I should point out;  he hasn’t yet bought Caye Chapel, you know.  Don’t let us get ahead of ourselves.  He signed, as I understand, a sales agreement.  There must be various undertakings completed, and I think there’s a window for all that to happen before an actual title transfer will take place. But, so far so good, and we welcome the possibility that the purchase will be made fast, and that thereafter there are these plans to proceed with the construction of this new five star hotel.

vlcsnap-2013-09-03-11h09m42s44vlcsnap-2013-09-03-11h11m06s108vlcsnap-2013-09-03-11h12m07s67 vlcsnap-2013-09-03-11h16m09s94
Following the acquisition of the Port at Commerce Bight last month, Government has committed to upgrading the port to meet international standards. The lease which was granted to The Port of Belize Limited (PBL), was revoked following a long standing battle in the courts. Back in March of 2008, Government served notice to Port of Belize on the revocation of the lease; however, PBL applied to the Supreme Court and obtained an injunction restraining the Minister of Works and Transport from cancelling the lease. But this injunction was discharged by the Supreme Court in July of 2012, making way for GOB to regain possession. However, PBL has gone on record saying that the fight isn’t over and they will look into seeking further court action. The PM says that Government remains steadfast.

Prime Minister Dean Barrow:

You’ll have to ask the Ashcroft people.  As far as I’m concerned the position is quite clear and eminently justified by the facts.  We were absolutely within our legal rights to cancel.  Remember this was only done after they has first obtained an injunction, and the injunction had been discharged.  So even if they decide to go to court, in my view they can’t win. 

Immediately following Monday’s events in Belmopan, PM Barrow left the country to be with his wife in the United States. He will be returning on Friday, but in the meantime, Deputy PM Gaspar Vega will be holding over for him.


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