Spencer Brand, a developer?

Spencer Brand
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Prime Minister Dr Timothy Harris has revealed that an active Minister of Government in the Nevis Island Administration (NIA) is a developer, using the Alternative Investment Option of the Citizenship by Investment (CBI) Program.

Dr Harris on Tuesday disclosed that Minister of Public Works in the NIA, Spencer Brand, used the initiativae to fund his private project valued at approximately US$44M.

The Prime Minister was at the time using it as an example, in relation to the projects that had been approved under the Alternative Investment Option that Premier of Nevis Mark Brantley had criticised.

“Mark Brantley should know better. A member of Mark Brantley’s Cabinet, Spencer Brand, is also a developer in the CBI Program.

“Spencer Brand’s project came to the Cabinet, supported by the NIA, for us to give them shares. Is it that the government, then, is funding Spencer Brand’s project?”

Dr Harris explained that under the arrangement, Brand would go out and seek investors interested in getting involved, using citizenship.

“I think it’s about US$44M. Is it that the federal government will take up $109M nearly $120M EC to fund Spencer Brand’s project, or Spencer Brand will go around the world and find interested people.”

He explained that the Park Hyatt and the Ramada Hotels were built through the CBI program.

Up until then, no mention was ever made of the project.

 

 

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