Dominica Plans Big Housing Revolution for 2019 with Funds from Investors-turned-Citizens
Dominica is rolling out its public housing scheme this year, funded entirely by the country’s successful Citizenship by Investment programme. This is part of the government’s plan to resettle families displaced by Storm Erika in 2015 and Hurricane Maria in 2017.
In a bid to keep its promise to become “the world’s first climate resilient nation”, a new Build Back Better (BBB) code was devised. The Housing Revolution programme was created by Prime Minister Roosevelt Skerrit in his dual capacity as the Minister for Housing and Lands. It currently includes nine BBB-compliant projects underway. In December, the first 38 families received their keys in the Bellevue Chopin area, with full occupancy slated for March 2019. Most of the new accommodation will be ready for handover throughout 2019.
Dominica’s government aims to provide modern housing for all citizens affected by adverse weather challenges and make the island future-proof. “27.000 homes have to be done over a period of time. In one year, I understand we have done about 12.000 homes in terms of repairs and so on – that is remarkable! This process will continue,” said Reginald Austrie, Deputy Prime Minister of Dominica during a contract signing ceremony in September.
This is the most extensive scheme funded by Dominica’s citizenship by investment (CBI) programme, following a particularly good performance over the past few years. Reputable investors choose to make a contribution to a government fund or hotelier real estate in Dominica. If accepted, they – and if applicable, their families – are rewarded with Dominica’s valuable citizenship, which they retain for all future generations. The international community, such as FT, CNN and National Geographic, lauded the small island-nation’s efforts in green initiatives, transparency and integrity pertaining to its CBI programme. According to the latest CBI Index report from Professional Wealth Management, Dominica is considered the world’s best citizenship to invest in.