The Yachting industry continues to foster branches in the Caribbean and yacht owners may very soon insert a new island-destination to their ‘must visit’ list. This is considering the near future addition of a possible super yacht marina in one of its small islands.
Dominica has recently broken ground for the construction of its first super yacht marina which will be funded through it’s Citizenship by Investment (CBI) Program. The country’s Prime Minister Honourable Roosevelt Skerrit had just last year revealed an annual revenue of over EC $450 million through the program for the fiscal 2021-2022.
On Saturday 25th May 2024, the Cabrits Marina’s groundbreaking ceremony at Cabrits Intercontinental Hotel in the island’s second capital of Portsmouth, met with high confidence in the U.S $75 million project. The Prime Minister expressed great anticipation for what he expects to be, “a marina of the highest standards which will be a shining example of sustainable development in Dominica and the region.” He further underscored his government’s commitment to environmental stewardship, referring to the marina’s sustainability in response to a feasibility analysis of the location. “This government has proven that environmental considerations are important to us, and we are always seeking to strike the right balance between development and conservation, this project will be no different.”
The well anticipated marina is designed with wet slips measured up to 50ft and accommodation for super yachts up to 150 ft, and a marina village potentially housing over fifteen (15) food and beverage outlets and other commercial structures. Hon. Skerrit foresees a high increase in visitor arrivals following the completion of perhaps one of Dominica’s most historical projects. “With a new, organized port of entry into Portsmouth, we anticipate an unprecedented number of visitors, being on the consistent path of growth we have witnessed the yachting industry over the past years.”
The town of Portsmouth is home to the Portsmouth Association of Yachts Services (PAYS), a non-profit organization tasked with the responsibility to provide yacht services and security to yachts anchored at Prince Rupert’s Bay. According to Hon. Skerrit, Dominica holds a record of approximately 2,000 yacht arrivals annually with 7,000 to 9,000 passengers.
Under the management of Range Developments, the first phase of the yacht marina project is said to be completed within 18-24 months. Its Managing Director Mohammed Asaria confirmed that this phase includes the dredging of the basin and the installation of berths and yachting infrastructure. He says that once this has been complete, yacht owners will immediately be welcomed to the island’s first yacht marina.
Phase two looks at the development of the 50,000 square meter marina village which should be built in twelve months once soil is stabled. Asaria suggested that Dominica eventually be ‘a must visit’ destination. “Our aim is to attract world class facilities, world class restaurants and world class retail into our marina village. This in turn will drive further yachting traffic. If we have the right facilities, the right entertainment options, this marina will be a ‘must stop’ for all vessels in the Caribbean Sea.” He continued to give credit to the island’s natural and adventurous components, “so when we combine the marina with Dominica’s unique attributes; our landscape, our hiking trails, our whale watching and boiling lake, we really do become a ‘must visit’ venue and we now have the infrastructure and amenities to welcome this new category of tourists.” The small island referred to as the ‘Nature Isle of the Caribbean’ is said to host rivers amounting to 365- one for each day of the year, and luscious green forests convenient for nature lovers.
Phase three will focus on the development of residential units with the motive of building a community appropriate for persons to reside and acquire employment. Asaria revealed intentions to target the diasporan community as well as digital nomads through the CBI program. Digital nomads are typically described as high net worth individuals who travel the world, earning income through networking. They tend to travel with very little belongings to exotic or off grid countries, occasionally buying or renting property wherever they disembark. “We will attract those nomads through the CBI program, so their interaction with Dominica is not just citizenship, but also to make this island their long-term home,” he said.
Martinique and Guadeloupe are also considered targets for Dominica’s future yacht marina due to their individually large regional island economies and affinity to yachting. Asaria remains optimistic in securing the arrival of yachts from the island’s neighboring French islands through competitive facilities and rates. “Once we attract them with these facilities, the owners of these vessels will spend time in our marina village as we offer exceptional entertainment and retail options, and this in turn will encourage them to make their primary or even secondary home in the Cabrits Marina,” he elaborated.
Range Developments is one of the largest and possibly the most successful hospitality developer within the Eastern Caribbean, founded by London native Mohammed Asaria in 2012. The company holds an impeccable track record and is responsible for the development of several luxury resorts within the region through their respective CBI programs. Range Developments’ record include the Intercontinental Hotel and Spa in Dominica and Grenada, as well as the Main Port extension project in Saint Vincent and the Grenadines, Park Hyatt in St Kitts and Nevis and Six Senses La Sagesse in Grenada.
The first set of mega yachts are promised to visit the Cabrits Marina by 2026, according to Asaria.
