The Government of Antigua and Barbuda has concluded negotiations with Sandals Resorts International over outstanding tax obligations, securing a settlement agreement valued at EC$6.5 million.
Cabinet described the resolution as amicable, framing it as evidence of the Government's commitment to sound fiscal management while maintaining strong ties with major investors who play a critical role in the country's economic development.
EC$5 million of the settlement has been earmarked to launch development of the long-awaited Renaissance Park at Fort James. The project is being positioned as a transformative recreational and tourism destination intended to revitalize the historic Fort James area and generate new opportunities for leisure, commerce and community engagement.
Planned facilities for the Renaissance Park include a marina, amphitheatre, swimming pool and bar facilities, boutique hotel accommodations, Airbnb-style properties and commercial retail spaces. Preliminary assessments and surveys are already underway as planning advances.
Cabinet also addressed broader national development priorities. Construction on several housing office complexes is expected to commence shortly as part of ongoing efforts to improve public infrastructure and meet urban development needs.
In a continued push to combat urban decay, Cabinet approved a series of initiatives to improve the appearance and functionality of communities across Antigua and Barbuda. These include the installation of new directional, road and traffic signs islandwide, funded through the Tourism Fund. Work to repaint road markings and upgrade bus stops across the island will also be accelerated.
Cabinet expressed confidence that the combined investments in tourism infrastructure, urban renewal and public amenities will protect the nation's historical and cultural assets, stimulate economic activity and create new opportunities for both residents and visitors.
