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Saint Lucia: Government announces first-ever CIP funded housing project

Cateries, Saint Lucia: The government of Saint Lucia has announced that they are on the path to provide ordinary families with a real opportunity to become first-time homeowners. This ground breaking initiative will be achieved by utilizing the Citizenship by Investment funds.

This is going to be the first time that the government of Saint Lucia will use revenue generated from the Citizenship by Investment Programmes (CIP) to build affordable homes and make people landlords from tenants and also break down barriers to homeownership.

Prime Minister Philip J. Pierre, in his budget address, announced that the government of Saint Lucia will ‘break ground on a historic affordable housing development project.’

The aim of this move is to take action for Saint Lucians for whom buying a house is too cost prohibitive. So, this initiative would give a chance to many residents of the island nation to become first-time home owners. This would transition the tenants to home owners.

Issuing the statement, the government officials have shared that a developer has been granted the approval to construct a 64-Unit housing development. The project will be initiated at the Rock Hall, Castries.

Also, the government is in the process of finalizing the terms of a second housing project that is set to be constructed in Belvedere, Canaries.

The release also notifies, “Under the leadership of PM Pierre the CIP revenue will close the housing gap.” The project will make the dream of being a home owner a reality for several residents of Saint Lucia.

The statement notes, that the ‘Pierre-led Administration is Putting People First’ and the government will very soon provide the Saint Lucians with new homes. And all this will be made possible through the help of Citizenship by Investment funds.

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