GOVERNMENT SECURES FULL STATE OWNERSHIP OF KEY FRIGATE BAY ASSETS IN LANDMARK AGREEMENT
Basseterre, Saint Kitts, February 12, 2026 (SKNIS): The Government of Saint Kitts and Nevis has successfully concluded a landmark agreement securing full State ownership of major lands and assets in the Frigate Bay area, Prime Minister and Minister of Finance, the Honourable Dr. Terrance Drew announced during the first Sitting of Parliament for 2026, on Thursday, February 12, 2026.
The agreement, finalised following extensive negotiations, transfers to the State full ownership of the lands on which the Frigate Bay Golf Course is constructed, full ownership of all shares in Frigate Bay Golf Limited, and an additional 77.23 acres of prime land in the Frigate Bay area.
The newly secured lands include 16.10 acres comprising the northern holes of the Golf Course adjacent to the Koi Resort, 13.16 acres of prime vacant land west of the Golf Course overlooking Half Moon Bay, and 47.97 acres of prime land located between Frigate Bay Road, Earles Mornes, Bird Rock and the heights of Frigate Bay.
Prime Minister Drew noted that the acquisition represents a continuation of the longstanding vision of the St. Kitts-Nevis Labour Party Administration to empower citizens through land ownership and sustainable economic development. He highlighted the historical significance of Frigate Bay, referencing earlier efforts by national leaders to secure and develop the area for the benefit of the people of the Federation.
Under the new arrangement, the Ministry of Tourism and the Frigate Bay Development Corporation will oversee the day-to-day operations and strategic development of the golf course, ensuring alignment with the Federation’s long-term sustainable tourism objectives.
The government also announced plans for strategic development of the newly acquired lands. The 13.16-acre parcel is expected to support infrastructure development for luxury villas and potentially a high-end hotel, capitalizing on its scenic views of the golf course and Half Moon Bay.
Meanwhile, the 47.97-acre parcel will be subdivided into residential and commercial lots, with a special focus on providing opportunities for young citizens to access land ownership and build generational wealth. The Government has also indicated its intention to work with local financial institutions to ensure financing options are accessible to prospective landowners.
Prime Minister Drew emphasised that the agreement was achieved at no direct financial cost to the Government. Instead, compensation to the Royal St. Kitts Group of Companies was structured through the issuance of 725 Public Benefit Units under the Citizenship by Investment Programme.
Additionally, the Government confirmed that a US$10 million loan extended in 2023 to support operations at the St. Kitts Marriott Resort is scheduled to be fully repaid by the second quarter of 2026. To date, approximately US$3.1 million has already been repaid. The loan arrangement is also expected to generate at least US$2.5 million in application fee revenue to the State through the Public Benefit Unit mechanism.
Prime Minister Drew described the agreement as a major step toward strengthening national ownership of key tourism assets, expanding economic opportunities, and advancing the Federation’s vision of becoming a Sustainable Island State.
The Prime Minister reaffirmed the Government’s commitment to long-term national development, noting that the acquisition is designed to benefit current and future generations of citizens and residents.
The agreement marks a significant milestone in the continued development of Frigate Bay as a premier tourism and residential destination within the Federation.
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