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CLICO to make major investment in St. Kitts

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Basseterre St. Kitts 25 July: CLICO announced Monday, it is to locate its new Financial Centre in St. Kitts, market Phase 1 and begin Phase 2 of the Douglas Estate Housing Development;  and start construction of a multi-million dollar condominium project at Frigate Bay, one of St. Kitts’ leading tourism area.

Speaking at the formal opening of a one-week meeting of the leadership of CLICO’s Sales Team of Insurance and Financial Advisors in Barbados and the Eastern Caribbean at the St. Kitts Marriott Resort, CLICO’s Executive Chairman, Mr. Leroy Parris, said the insurance and finance group, “is investing heavily in the economy of St. Kitts.”

He said Clico, which has been operating here for many years, “is determined to ensure that we play a stimulating role in our industry, but also in the economies in which we operate.  We believe that home drums beat first and if our regional economies are strong and vibrant we can withstand any threats and challenges from international competition.”

Mr. Parris said a building which it recently purchased in the heart of Basseterre is been modernised to house the new Clico Financial Center – the Clico International Life Insurance Ltd and when the approval process is completed, Clico International General Insurance Ltd.

“We have sought to maintain the beautiful majestic Kittitian architectural style of the building which makes it unique. Clico is mindful that our customers want to do business in beautiful, comfortable and efficient surroundings and we are pleased that our new building will provide just that,” said Parris.

He disclosed that while Clico is marketing Phase 1 of the housing development at Douglas Estate phase 1, Phase 2 will begin in the next few months catering to the upper middle, high end markets.

Mr. Parris said that Clico, in partnership with Premier Properties, will be soon be commencing a US$12 million  Condominium Development at Frigate Bay, which will afford a most luxurious living experience in state of the art stylish constructed residences.

“Construction is to start in September this year and these are just a few of the initiatives which will provide employment but also much needed housing and foreign exchange for the community,” said Mr. Parris, who expressed thanks to St. Kitts and Nevis’ Prime Minister, Hon. Dr. Denzil L. Douglas and all the people of St. Kitts and Nevis “who have supported Clico in one way or the other in making our progress possible.  Our partnership is extremely appreciated and valued by us.”

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