Vice Chairman of Range Developments, Mohammed Asaria, tells Investment Migration Insider in an interview that the introduction of more countries to the citizenship by investment market will keep countries “on their toes” and compel them to refine their product.
Range Developments is the firm behind the winner of Caribbean Travel Awards’ “Best New Hotel in the Caribbean” Prize, the Saint Kitts Park Hyatt, and is also developing the Cabrits Resort by Kempinski in Dominica (about halfway completed) as well as the Black Bay Resort by Ritz Carlton, scheduled for completion in 2021.
Mohammed Asaria advises countries to take advantage of the hitherto mostly untapped potential of naturalized investors by incentivizing them to invest further in their new homes, beyond just for the purposes of obtaining citizenships.
“Citizenship by investment should be the touch point, not the last point, and there is a lot more to this industry than what is currently being achieved,” said Asaria.
If the capital won’t come to Mohammed
The Dubai-based vice chairman says he spends close to half his days every year on the road, between China, the Middle East, and the Caribbean, drumming up investment for his five-star developments.
“Our marketing team is more or less constantly on the road,” says Asaria. “What we’re now seeing is that with the extremely positive response from the market, such as our glowing TripAdvisor reviews, the product is increasingly selling itself.”
While it’s true the recent price cuts on contributions in the Caribbean have made his CBI real estate relatively more expensive, units in the high-end hotel developments are still selling well.