The Royal Mill luxury resort beach club and residences, is now set to begin construction, after a grand groundbreaking ceremony, hosted jointly by Invest SVG and A&A Capital.
The ceremony was held on Tuesday January 21st, 2020, at the location of the Royal Mill site, the former Boyea residence in Ratho Mill, on the southern tip of mainland St Vincent.
The ceremony climaxed with the unveiling of artistic renderings of the resort complex, preceded by various cultural performances and speeches from A&A executives and government ministers, including area representative for East St. George Hon. Camillo Gonsalves, Minister of Tourism Hon. Cecil Mc Kie and the feature address by Prime Minister Dr. Ralph Gonsalves.
Prime Minister Gonsalves, in his address, thanked the investors for choosing St. Vincent and the Grenadines and outlined the many ways in which his government has been constantly upgrading the local infrastructure and human resources, to make investment more rewarding for them and others. He also spoke of his pleasure in the majesty and beauty of the intended resort and noted that it would provide hundreds of jobs for locals. He also gave the assurance that the government would continue to bring more such opportunities through continuous collaboration with investors.
Chief Executive Officer and Co-founder of A&A Capital, MrAdemAdem, expressed delight at the start of the project, and proclaimed that the ease of doing business so far in St Vincent has been much better than expected. He showered praise on public sector officials in the ministry of planning, and at Invest SVG, for their hard work and commitment to getting the project to this stage.
Adem noted that the construction phase will see the employment of over 120 Vincentian workers adding that he expects the project to be completed within the expected period of time. He also announced that his company recently acquired the Grand View Beach Hotel, at Villa, which they are currently renovating and will soon reopen.
The Royal Mill Resort will feature a ten story Hotel building with eighty luxury rooms, eighteen apartments, two penthouses, and fifteen luxury residences. It is also expected to boast an ultra-modern design, with amenities including an exclusive spa, large pool area and bar, rooftop bar and restaurant and a large gym among other things. The project is estimated to cost some 60 million US dollars.
A&A Capital is a private equity firm that makes transformational investments in middle market companies with the aim to jointly establish a distinctive approach to building stronger businesses. It was founded in 2016, and two of its executives are Vincentians.