Belize appears finally on its way to having its first branded Four seasons hotel including a 10-hole golf course. That's the Caye Chapel project and through the years it has gone through many stops and starts.
But, now the developers say this one is the real one - and they have a $200M US dollar investment banking on the success of a legit five star resort.
Our team attended what was called a "reveal celebration" on Saturday to mark the beginning of the first phase of project completion. Now, we've heard this one before - so Jomarie Lanza went there on Saturday afternoon to gauge the difference this time around:
Stand up:
Caye Chapel island, its like a pearl in The Caribbean sea just south of Caye Caulker. For decades this privately owned destination has been an island of promise and potential unrealized. But now a few million dollars later, the Mexican ownership group say its on the cusp of completion.
The last time we were at Caye Chapel for a big reveal was in 2015:
Jaime Fasja, Developer
"One step closer to materialize a luxury resort."
One set, apparently in a tourney of a thousand miles.
Almost 8 years later, a consortium of Mexican investors have decided to pick back up the shovel and infuse 200 million US into creating what they've deemed "A perfect Caribbean getaway" on the 280 Acre property.
Jorge Vargas, Caye Chapel Development Team
"We got involved with the property in late 2016. Of course the pandemic and several processes after the pandemic made us re analyze the concept of the project but now we are in good shape to say that we will and are in the process of starting heavy construction and for the second part of 2025 we will open the hotel so the next 24 months will be of heavy construction that we will be able to open the hotel before the end of 2025."
The groundbreaking ceremony for "The Four Seasons Resort and Residences" follows on the heels of the investment summit which ended the day before. The Prime Minister says that Caye Chapel's Project Reveal confirms and demonstrates Belize's investment - readiness.
John Briceno, Prime Minister
"Well I think it goes just in line with what we've been talking about that Belize is open for business and that over the past two years we've been doing a number of legislative changes and changing the mindset of the government and our public officers when it comes to encouraging investments in Belize."
"Now here we have the Four Seasons, one investment that will bring in 200 million US. We expect in the next two years we will be able to invest in Belize it's speaks volumes about the kind of confidence they have the kind of excitement that they have in Belize and for them to see something special in Belize that they are saying we are prepared to put 200 million US as a first part of the investment and because they see that Belize is well placed that Belize has a natural beauty we have."
"I'm so happy and excited that here we are officially although a lot of work has been done already at caye Chapel and millions of dollars have been invested to have this official groundbreaking ceremony."
Belize's first Four Seasons resort will be built on the Northside of the island, inclusive of 104 rooms along with 20 overwater bungalows. Apart from the luxurious accommodations, exclusivity and experiences that it will offer, we asked a member of the development team what really sets apart the resort from its local competition.
Jorge Vargas, Caye Chapel Development Team
"I will say that we have the greatest companies that we may have. A great country, a great and amazing environment in a perfect location close to the United States and close to major cities and areas of the US With the right chain and the right brand which is the four seasons which is one of the greatest and one the most important luxury brands in the world. So this combination I believe is the one that is allowing us to believe that this project will put the whole country on a different level of tourism."
Project completion is set for 2025 and the project plans to recruit labour from the mainland.
The developers say the project will offer 1000 plus employment opportunities during construction. Upon completion, the Four Seasons Resort and Residences will provide employment for a peak of 600 people - with a projected ratio of 4 employees per guest. It will feature 104 hotel rooms and 50 private residences, plus 97 residential estate lots for sale to private individuals.
The event was attended by the President, Global Operations and Hotels for Four Seasons.
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