Over the last few months, there has been inaccurate information circulating about the Cabot Saint Lucia development taking place at Cap Estate. While the development is on private lands (which sat idle for more than a decade), Cabot wants to make clear their intention to be a partner in the community.
Cabot has no intention of denying Saint Lucian nationals their rights and, while they understand that there will always be a small few opposed to any development, they are committed to showcasing St. Lucia on the world stage in a way that the majority of Saint Lucians will be proud of.
For this reason, Cabot wishes to correct these inaccuracies and state its position on the issues of concern to Saint Lucians.
The NIC provided an interest-bearing loan at market rates to Cabot, which is secured by the land. Therefore, if Cabot were ever to default, the land would belong to the NIC (as opposed to staying idle in the hands of a foreign bank or receiver). However, with the success of the project, the NIC will not only be repaid the loan with interest but they will continue to benefit from future employer/ employee contributions.
From the outset of this project, Cabot has been – and continues to be – committed to providing beach access. In addition, Cabot has also made a commitment to enhance Cas en Bas with improved accessibility and new facilities for public use, once the relevant government permissions have been granted to do so. The only access to the site that has been blocked was the result of a government request to stop the illegal entry of persons from Martinique during COVID lockdown, and that which would safeguard the safety of citizens as construction of the golf course progresses.
Cabot continues to work with the Government of Saint Lucia and the existing businesses in the proposed development area to find workable solutions to preserving these businesses and jobs.
Cabot has already agreed to adhere to the protocols established by Invest Saint Lucia for a similar development project, and it stands ready to enter into an agreement with the Government of Saint Lucia or its assigns on this.
Cabot has a strong track record of ensuring environmental protection throughout all of its projects and has been certified for doing so by the Audubon Certified Cooperative Sanctuary for Golf. Cabot is working with local government departments to ensure that this project exceeds the standards defined by international law. Cabot looks forward to meeting with members of the public, once public health restrictions allow, to discuss these issues further.