Dominica expands public housing programme, funded by citizenship by investment
Date
4/24/2019 8:59:11 AM
(MENAFN- Caribbean News Now)
ROSEAU, Dominica – The government of Dominica announced last week that it had commissioned the construction of 32 new, affordable, and, crucially, weather-resistant homes for Bellevue Rawle families in the Roseau North Constituency as part of Dominica's 'Housing Revolution.' Once finished, the national project will count 5,000 new homes for residents across the island.
Clearance of the land for the homes is currently underway, and construction will commence within a month of the soil being tested.
Bellevue Rawle is not the only town benefitting from the housing project. Thirty-three residential units for the village of Jimmit in the Mahaut Constituency have recently been announced, and various developments across Dominica are either scheduled or already under construction. The homes will follow the same blueprint as previous units built by the government, which includes hurricane-resistant windows, roofs and wiring. Increased employment opportunities in the construction sector are also expected.
Dominica's Housing Revolution is funded entirely by the nation's citizenship by investment (CBI) programme. During a site visit to some of the successful housing developments in the northern town of Portsmouth, Prime Minister Roosevelt Skerrit emphasised the fiscal leverage the programme has provided to effect social advancement.
'As you know, this project is financed with funds from the citizenship by investment programme – yet another tangible manifestation of the prudent and responsible and visible use of the CBI funds. Much to the benefit and satisfaction and improvement of our country and our citizens," he said.
The CBI programme is an initiative introduced by the government in 1993. The programme offers global investors and their families a means of acquiring citizenship with the option of either contributing to a government-held fund or buying into pre-approved eco-friendly real estate. Investors in Dominica gain access to immigration benefits, such as increased global mobility and the ability to secure a safe future for themselves and the next generation.
The programme has also been voted number one in the world by the Financial Times' Professional Wealth magazine for its due diligence, affordability, efficiency and commitment to integrity. Funds generated from the programme are used to support national growth in areas such as health care, education, infrastructure and climate change resilience.
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