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Sweet Home officials meet Antigua and Barbuda PM.

Sweet Homes Holdings (SHH), a leading UAE-based developer and multi-service provider to the real estate sector, met with dignitaries from the twin-island nation of Antigua and Barbuda, in Ajman recently.

Antigua and Barbuda is a sovereign island-nation lying between the Caribbean Sea and the Atlantic Ocean.

The officials discussed potential opportunities and projects between the two entities.

During a visit to the Ajman Uptown project, Gaston Browne, Prime Minister of Antigua and Barbuda, announced that as part of the move to further reinforce ties and explore strategic opportunities between the two sides, individual investors of the Ajman Uptown project will be eligible for citizenship in Antigua and Barbuda, subject to due diligence, the payment of fees and other monies.

Upon invitation, from the Prime Minister, the delegation from Sweet Homes visited Antigua and Barbuda last month.

The Government of Antigua and Barbuda formally agreed to extend its territorial jurisdiction to include the Ajman Uptown project pursuant to Section 42 of the Finance Administration Act 2006, the primary purpose of this undertaking is to provide a funding contribution of $200,000 by successful applicants for citizenship, to the National Development Fund (NDF) under the Citizenship by Investment Project (CIP) law.

It was agreed that the buyers of the units of the 'Ajman Uptown Project' will be eligible for citizenship of Antigua and Barbuda under CIP, NDF for each principal applicant, including spouse, dependent children and dependent parents over 65 years of age, who form part of the applicant's family.

Fahad Sattar Dero, managing director, said: "There are several benefits if you buy property in Ajman Uptown, you save a lot. Its citizens' can travel visa-free or get visa-on-arrival in 125 countries and territories all over the world. We are anticipating interest of several nationalities to make use of this limited time bound offer.

"Overall, we are receiving and expecting a good response. Ajman Uptown is the first project in the GCC region that allows a property investor to get a citizenship of another country."

The project is spread over 3.5 million sq ft of land next to Sheikh Mohammed bin Zayed Road and Emirates City, comprises 1,504 villas and townhouses, a shopping area and apartments. Work on 300 villas has been nearly completed.

"We are planning to handover phase one (300 villas) by March 2015," said Dero, adding that the company is aiming to hand over the entire villas in three more phases. - TradeArabia News Service

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Publication:TradeArabia (Manama, Bahrain)
Geographic Code:5ANTI
Date:Dec 10, 2014
Words:429
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