More upscale housing
Friday, 22 September 2006

A massive up-scale housing development is in the works for St. Philip.

UK investors are looking to the south east of Barbados to satisfy the demand of people who want a piece of this island paradise, but cannot afford the pricey west coast.

The development will cover 70 acres of land in Merricks that includes a cliff side view.

The core will comprise a five star resort and spa surrounded by leisure areas, entertainment facilities and restaurants.

There will also be 700 units made up of luxury apartments, cabanas and cliff-side villas.

The studio apartments start at around 150, 000 pounds. At today's conversion rate that's over half a million Barbados dollars.

And the cliff-side villas cost ten times more.

Greg Walters Director of Offplanproperty, a UK firm which is marketing the project, says some of the apartments have already been sold.

Mr. Walters adds that the east coast of Barbados is very attractive to investors and buyers.

The development is expected to be completed in 2008.

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