Two weeks ago, Investment Migration Insider launched CBI Real Estate Watch©, the online platform for keeping track of the approved projects of citizenship by investment programs. We created the platform as a response to a great deal of controversy in the Caribbean regarding the practice of developers collecting investments without actually constructing.
Collecting accurate data on the different projects in the Caribbean proved a formidable task; We sent out hundreds of emails and surveys, and also manually rang up the different developers, many of whom could not give us the basic information on their projects, such as construction status, whether or not it was sold out, what year they had received their CIP-approval or, indeed, where to find photo updates.
Having at first presumed that real estate developers – who generate revenue by selling property units that they spend a great deal of money on marketing to potential investors – would happily accommodate anyone seeking information on their projects, the reticence with which they met our questions struck us as somewhat perplexing.
After many weeks of collecting as much data as we could, vital information for several dozen of the 160 approved developments was still missing. We, therefore, decided to publish a beta version of CBI Real Estate Watch, calling on our readers to help us fill in the gaps in our dataset and suggest corrections as applicable. This helped us bring the number of developments for which data was missing down to just 35 out of 160, and also to adjust some of the incorrect listings.
The two-week grace period has now come to an end, and we are removing the “beta” designation. Developers, agents, and readers
Today, we’re publishing an overview of the construction status of all Caribbean CBI-real estate. As a legal disclaimer, we remind the readers that we make no guarantees as to the accuracy or veracity of the content on CBI Real Estate Watch, nor, indeed, in this article. The below data represent only the information we have been able to gather and is, to the best of our knowledge, the most complete such dataset anywhere.
Tallying the overall performance of Caribbean CBI real estate
For the five Caribbean citizenship by investment programs – those of Antigua & Barbuda, Dominica, Grenada, Saint Kitts & Nevis, and Saint Lucia – the overall construction status is as follows:
- Completed: 50
- Partly completed: 6
- Under construction: 25
- Not started: 37
- On hold: 6
Cancelled : 0- No data: 35
- Plots only (considered completed): 1
Antigua & Barbuda
- Completed: 16
- Partly completed: 4
- Under construction: 2
- Not started: 6
- On hold: 1
- No data: 12
- Plots only: 1
Dominica
- Completed: 0
- Partly completed: 0
- Under construction: 4
- Not started: 2
- On hold: 0
- No data: 0
Grenada
- Completed: 4
- Partly completed: 2
- Under construction: 1
- Not started: 2
- On hold: 3
- No data: 4
Saint Kitts & Nevis
- Completed: 30
- Partly completed: 0
- Under construction: 18
- Not started: 25
- On hold: 2
- No data: 19
Saint Lucia
- Completed: 0
- Partly completed: 0
- Under construction: 0
- Not started: 1
- On hold: 0
- No data: 0
To learn more about particular developments and to see photographic updates, please visit CBI Real Estate Watch.
