By Special Correspondent
ST GEORGE’S, Grenada — The government of Grenada has announced a 25 percent increase in successful citizenship applications in the first half of this year, with more than 500 granted between January to June. The statement attributed the increase largely to the popularity of Range Developments’ Six Senses La Sagesse project.
Experts say that Grenada’s success validates its strategy of maintaining its pricing in the face of drastic reductions from its competitors. It can afford to do this because it is the only country offering visa-free travel to China and the opportunity of living in the United States through its E2 visa program.
“The COVID-19 pandemic has seen the demand for Grenadian second citizenship increases significantly,” said Mohammed Asaria, managing director of Range Developments. “Grenada has maintained its price point cementing its position as a quality and unique product.”
Investors say that they welcome the degree of scrutiny from the government of Grenada, which roots out rogue developers who try to play with the laws and discount CBI offerings. In July, the CBI office issued a circular with a stern warning that it would not tolerate such activity. Because the application process is fully digitized, there were no delays to applications.
“The COVID-19 pandemic has shown glaring differences between both the countries offering a quality product as well as the developers,” said Asaria. “There has been a flight to quality. Notwithstanding global challenges, our Six Senses product has become market-leading in the Grenada CBI product. We have shown our commitment to these turbulent times and appointed our structural contractor. Imminently we will be announcing the appointing of our MEP contractor. We are on track for timely completion.”
Range Developments is the leading citizenship-by-investment developer in the region, having successfully built the Park Hyatt St Kitts and the Cabrits Resort Kempinski Dominica.
The Six Senses La Sagesse, Grenada resort is a government-approved project under the citizenship-by-investment program of Grenada. Investors can obtain citizenship of Grenada through an investment in the Six Senses development for US$220,000. Initial sales momentum has been strong, with investors recognizing the capital growth and income generation potential of the resort, in addition to the benefits that citizenship of Grenada provides. Six Senses La Sagesse, Grenada is scheduled to be completed in Q4 2022.
