2013Can we build a secureeconomy in an uncertainand rapidly changingworld?
Climate change is the bigdriver We are currently firmly on course for 4°Cwarming by 2060 thats less than 50years from now...
CO2 and temperatureWe are here400ppm
The alarm is being sounded By every major non hydrocarbonbacked international intuition By Grenada during its time as ch...
Time to pull our collective heads outof the sand - looking backwards anddoing business as usual is not anoption
What are the impacts onGrenada Increasing carbon taxes on flights Rapid increases in food prices Ongoing recession in E...
We are about to enter a time of changethat will be more dramatic than anythingwe have been through beforeAs we adapt and l...
Envisionation
We need a plan to buildconfidence With great change comes greatopportunity Confidence comes from having asecure market ...
Aim to be the world’s first carbonnegative country Carbon neutral through renewableenergy particularly geothermal Carbon...
Set our objectives Improved education and opportunity Full employment Food security through home production High quali...
How Let’s build on our success ineducation◦ There is a huge demand for learning thatwill only increase as the world adapt...
Capture the retirement andsecond lifestyle market More than 2,000 homes on the plan now Egmont to Hope Retirees spend t...
Stimulate the property market Reduce the cost of property transfer sothat properties change hands much moreoften This pr...
Alternative Energy Waste to energy and bio fuel plant canproduce 6.8 MW, accounting forapproximately 25% of the country’s...
You can’t go carbon neutral anddevelop a hydrocarbon industry Burning all the worlds coal, gas andoil reserves is not a o...
How Many Gigatons of CarbonDioxide...?
Assistance in delivering theseplans Carbon War Room – Arubaexperience Caribsave – strong on supportingeducation and mari...
The market is going green
Proposal for aNew University Town &Medical Tourism ResortGrenadaFebruary 2013
Introduction• Medical tourism is growing fast as patients and theirmedical insurance companies seek out highquality, high ...
The ProjectThe development of a new University Town, thatwill build on SGU’s internationally recognizedbrandA private me...
Education as an economicdriver The green energy revelation is creatingenormous demand in all related sectors Renewable e...
St. Georges University (SGU) campus 2,500 + studentsThis is by far the most successful Caribbean University. It has aworld...
SGUAirportExisting HospitalLocation for the newuniversity townMount HartmanGrenadaScale: grid squares are 1,000 m
Components 200 bed national teaching hospital – size subject to detailed study 140 bed private medical tourism hospital ...
Components School of environmental studies, climate changeadaptation, permaculture and alternative energy – (with SGUor a...
 Secret Harbour and main site of UHT
Note this drawing will berevised after stakeholderconsolations . The PricklyBay water front andwetland areas are underrede...
Where is the profitablebusiness?Private Medical Medical tourism facilities in equivalent market placesare delivering cost...
Comparable private treatment costs in currentcentres of medical tourismSurgery USA Costa Rica India Mexico Korea ThailandH...
Where is the profitablebusiness?Educational Higher education courses can be extremelyprofitable. Adding a teaching hospi...
Where is the profitablebusiness?University Town Student and staff accommodations provideexcellent and predictable rental ...
Where is the profitablebusiness?New national hospital The current national hospital is poorlylocated, with limited access...
Financing and structure• Mount Hartman Estates Ltd holds the freehold to the 393 acre estate includingHog Island• The Gove...
Capital costs estimate US $446,000,000Component Site area built area Cost m2 Cost US $200 bed national Hospital 10,000 4,6...
Google earth shot – note how the site abuts Lance aux Epinesand Secret Harbour on the left which is the premier residentia...
 Hog Island site for luxury villas and hotel NB: the bridge to Hog Island is completed.
 Rogers Bar on HogIsland
 Mount Hartman Quarry – this is theproposed site for the new Hospital
 Dove sanctuary land in foreground with Hog island in thebackground, the island beyond that is Calivgny which is owned by...
For further information andenquires Please contact:◦ Bru Pearce◦ Envisionation Ltd◦ E-mail:bru@envisionation.co.uk◦ Skype...
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Preparing Grenada for a sustainable future

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This is the presentation I gave in Grenada on the 23rd of April 2013 at the Republic Bank Reigniting Growth conference. It shows how we are adapting the Mount Hartman Project to become a driver for the entire economy and proposes that Grenada goes all out to be a 100% renewable country.

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Preparing Grenada for a sustainable future

  1. 1. 2013Can we build a secureeconomy in an uncertainand rapidly changingworld?
  2. 2. Climate change is the bigdriver We are currently firmly on course for 4°Cwarming by 2060 thats less than 50years from now Fewer than one in seven of the youngpeople alive today will live to see it asthe planets carrying capacity reduces tounder 1 billion Continuing as we are is not an option wehave to restructure our entire energyeconomy, cut out carbon pollution andreduce atmospheric CO2 levels fast
  3. 3. CO2 and temperatureWe are here400ppm
  4. 4. The alarm is being sounded By every major non hydrocarbonbacked international intuition By Grenada during its time as chair ofAOSIS calling for a cap at 1.5°C not2°C of warming (right now we are at0.8°C) Most loudly by the planet itself throughthe loss of the Arctic ice cap andextreme weather all around the world
  5. 5. Time to pull our collective heads outof the sand - looking backwards anddoing business as usual is not anoption
  6. 6. What are the impacts onGrenada Increasing carbon taxes on flights Rapid increases in food prices Ongoing recession in Europe andAmerica adversely impacting thetraditional markets Increasing fear and short term thinking loss of confidence Escalating energy prices Surrounded by sea it won’t get hot asfast as other places Agriculture will become more competitive
  7. 7. We are about to enter a time of changethat will be more dramatic than anythingwe have been through beforeAs we adapt and learn to manage Earthslife supporting systemsGrenada can play a major roll in thisprocess
  8. 8. Envisionation
  9. 9. We need a plan to buildconfidence With great change comes greatopportunity Confidence comes from having asecure market Confidence develops long termthinking and that provides a stabledevelopment environment
  10. 10. Aim to be the world’s first carbonnegative country Carbon neutral through renewableenergy particularly geothermal Carbon negative through carbon captureby pyrolysis and sequestration A visit to Grenada should itself be themost a carbon friendly holiday offeringavailable Developing long stay tourism througheducation, medicine and retirement hasa much lower carbon impact than weeklystays
  11. 11. Set our objectives Improved education and opportunity Full employment Food security through home production High quality health care for all Economic activity more evenly spread to allmain centres of population Self sufficient in electrical energy production A protected environment, pollution of landand sea reduced to a minimum Create economic resilience through marketdiversity and market capture Pay off the National debt
  12. 12. How Let’s build on our success ineducation◦ There is a huge demand for learning thatwill only increase as the world adapts Capture our market◦ Economic citizenship with residentretirees – what we really want to captureis their retirement spending Attract the retirement market◦ by offering excellent health care
  13. 13. Capture the retirement andsecond lifestyle market More than 2,000 homes on the plan now Egmont to Hope Retirees spend their pension here Attracted by healthcare Jobs in construction
  14. 14. Stimulate the property market Reduce the cost of property transfer sothat properties change hands much moreoften This promotes the consumer market andthe local building trade, encourage lotsales on major developments Level the market so that foreigndevelopers do not have an unfairadvantage Collect more tax through greatereconomic activity
  15. 15. Alternative Energy Waste to energy and bio fuel plant canproduce 6.8 MW, accounting forapproximately 25% of the country’s meanpower needs Hydro Electric Power Geothermal Energy – Grenada has the bestpotential of any of the Eastern Caribbeanislands Grenada to be entirely self sufficient, andeven an exporter of electricity Photovoltaic, wind and wave power Not buying fuel oil will save nearly 7.5% ofGDP Secured electricity prices will give aconfidence boost to the traditional tourism
  16. 16. You can’t go carbon neutral anddevelop a hydrocarbon industry Burning all the worlds coal, gas andoil reserves is not a option Profit warnings are already beingsounded against the bighydrocarbon reserves Lets get value out of Grenada’sreserves quickly now, while we stillcan Follow Ecuadors lead and offer towrite them off against National debtrelief Gain fiscal and public relationsvalueThe Guardian Friday 19th April 2013HSBC warned that 40-60% of the market capitalisation of oil and gascompanies was at risk from the carbon bubble, with the top 200 fossilfuel companies alone having a current value of $4tn, along with $1.5tndebt.
  17. 17. How Many Gigatons of CarbonDioxide...?
  18. 18. Assistance in delivering theseplans Carbon War Room – Arubaexperience Caribsave – strong on supportingeducation and marine conservation A massive wave of awareness isbuilding particularly though the worldsuniversities◦ Movements like 360.org New support coming available everyday with the establishment of new
  19. 19. The market is going green
  20. 20. Proposal for aNew University Town &Medical Tourism ResortGrenadaFebruary 2013
  21. 21. Introduction• Medical tourism is growing fast as patients and theirmedical insurance companies seek out highquality, high value medical treatments• There is a world wide shortage of doctors and nursesdriving a demand for places at leading medicaluniversities by people wishing to enter theprofessions• St. Georges Medical University (SGU) has beenestablished in Grenada for 30 years and has inexcess of 5,000 (3,000 in Grenada) students, it has ahighly regarded international reputation and iscontinuing to expand even in the current deeprecession. SGU is a major contributor to Grenada’s
  22. 22. The ProjectThe development of a new University Town, thatwill build on SGU’s internationally recognizedbrandA private medical tourism facility with a newnational teaching hospital attachedExpanding the capability of SGU and adding postgraduate studies which in turn will attract medicalresearch and other related businessesFaculty of Environmental Studies responding todemands in environmental sciences, alternativeenergy and adaptation to climate changeThe University Town will support many otherdevelopment opportunities including first classhotels, residential accommodation and retirementhomes
  23. 23. Education as an economicdriver The green energy revelation is creatingenormous demand in all related sectors Renewable energy Climate monitoring –◦ links established to the ICES Foundation Agriculture – permaculture and biofuels◦ All of the above linked through an IT corridor Bringing the best minds to Grenada willdeliver great opportunity for allGrenadians Opportunity will bring Grenadiannationals home
  24. 24. St. Georges University (SGU) campus 2,500 + studentsThis is by far the most successful Caribbean University. It has aworld class reputation and is a major part of Grenada’s economy.
  25. 25. SGUAirportExisting HospitalLocation for the newuniversity townMount HartmanGrenadaScale: grid squares are 1,000 m
  26. 26. Components 200 bed national teaching hospital – size subject to detailed study 140 bed private medical tourism hospital facility - size subject todetailed study◦ Shared operating theatres, laboratories and support facilities◦ University facilities – observation rooms, laboratories and accommodation◦ Nursing school 5 star hotel with discreet medical support for recovery andrecuperation 3 /4 star hotel with medical support Faculty of Environmental studies and renewable energy Residential university town designed to support the whole projectand be a vibrant heart to the community◦ Mix of detached and attached housing, apartments, shops restaurants, studenthalls of residence◦ Provide opportunity for Grenadian business to service this market International school - children 4 to 18 years (Senior School 11-18years seen as especially important in attracting high calibre staff toproject) Hog Island – 86 acre luxury residential development
  27. 27. Components School of environmental studies, climate changeadaptation, permaculture and alternative energy – (with SGUor as an independent University) Expansion of existing SGU marine biology school, reefmonitoring and coastal erosion.◦ Hyperbaric chamber (links to medical facility) Medical Research Park – post graduate studies Secondary private medicine clinics – dentistry, cosmeticsurgery supported by main hospital intensive care capability Alternative and complementary medicine facility and school◦ Herbal medicines - Osteopathy◦ Health spas◦ Sports injury clinic Retirement homes – with graduated assisted living to end oflife Yacht club and dinghy sailing centre, Sports facility - dive, squash, tennis, gym, dance, yoga
  28. 28.  Secret Harbour and main site of UHT
  29. 29. Note this drawing will berevised after stakeholderconsolations . The PricklyBay water front andwetland areas are underredesign to ensure thatmangroves are preserved
  30. 30. Where is the profitablebusiness?Private Medical Medical tourism facilities in equivalent market placesare delivering cost savings in excess of 60% over theequivalent procedure costs in the USA. This can deliverconsiderable savings to US medical insurancecompanies Even at lower international rates, medical procedurescan be extremely profitable business Regional demand for quality health services is strong asis the demand for retirement homes The availability of quality health care will makeretirement villas within the development highly desirable Few people travel alone for medical procedures andrecuperation time after treatment is often essential, thisprovides guaranteed occupancy for associated hotels
  31. 31. Comparable private treatment costs in currentcentres of medical tourismSurgery USA Costa Rica India Mexico Korea ThailandHeart Bypass 144,000 25,000 $8,500 $20,000 $24,000 $24,000Angioplasty 57,000 13,000 $8,500 $16,000 $19,600 $7,000Heart Valve Replacement 170,000 30,000 $1,200 $30,000 $36,000 $22,000Hip Replacement 50,000 12,500 $8,000 $13,125 $16,450 $14,000Hip Resurfacing 50,000 12,000 $8,000 $12,800 $20,900 $16,000Knee Replacement 50,000 11,500 $7,000 $10,650 $17,800 $12,000Spinal Fusion 100,000 15,000 $12,000 $7,000 $17,350 $11,000Dental Implant 6000 1,000 $700 $910 $3400 $3,000Lap Band 30,000 8,500 $7,500 $8,430 $9,500 $12,000Breast Implants 10,000 3,500 $4,500 $8,000 $11,000 $3,700Rhioplasty 8,000 5,500 $3,500 $4,165 $4,000 $3,400Face Lift 15,000 5,900 $7,000 $7,200 $3,000 $6,600Hysterectomy 15,000 5,500 $5,500 $6,675 $9,000 $5,000Source: Medical Tourism Association
  32. 32. Where is the profitablebusiness?Educational Higher education courses can be extremelyprofitable. Adding a teaching hospital to SGU enables animmediate expansion and allows SGU to takestudents who may not be able to gain entry to theUSA or UK to complete their studies. There is a huge international demand for doctorsand nurses and consequently for medical tuition SGU can teach a range of subjects – there isalready a successful veterinary school andmarine studies department Supports big opportunities in the conferencemarket Supports the established hotel market
  33. 33. Where is the profitablebusiness?University Town Student and staff accommodations provideexcellent and predictable rental incomes The town with shops and services for rent andsale will provide vibrant leisure locations whichwill be attractive to visitors and support the resortaspects of the project Residential property development for sale willbring early profits and reduce project debt. Wealthy parents will buy properties for theirchildren to live in and then rent rooms to otherstudents. They will then on sell the property, providingfurther brokerage income to property agents andproperty transfer taxes to Government
  34. 34. Where is the profitablebusiness?New national hospital The current national hospital is poorlylocated, with limited access, and many designedand construction limitations A new purpose built facility will be much moreefficient and will deliver a faster patientthroughput A new national teaching hospital as part of theUniversity Town and a centre of excellence willbe able to sell services to other regionalCaribbean health services Infrastructure development costs can be shareswith the private sector project Medical facilities can be shared with privatesector
  35. 35. Financing and structure• Mount Hartman Estates Ltd holds the freehold to the 393 acre estate includingHog Island• The Government of Grenada entered into a comprehensive agreement for afive star resort and golf course, allowing planning consent and 25 years of taxbreaks with other fiscal incentives for the development.• The planning consent needs to be amended to the University Townconcept• The IFC part of the World Bank was retained to provide consultancy servicesfor a PPP structure and Balfour Beatty Investments has been selected as thepreferred bidder• Hospital management company to be selected, several expressions of interesthave been received• IFC/World Bank finance is potentially available subject to satisfactory duediligence and acceptance of the business plan, initial discussions have beenpositive• 70% debt financing for hotel components and infrastructure has been offeredby China Eximbank $115 million• It is likely that China Eximbank would be prepared to finance the over allproject infrastructure
  36. 36. Capital costs estimate US $446,000,000Component Site area built area Cost m2 Cost US $200 bed national Hospital 10,000 4,600140 bed medical tourism facility 14,000 6,000Shared operating theatres, laboratories and support facilities2,000 2,000University facilities – observation rooms, laboratories including fit out 50,000 10,000 $94,645,850Medical Research Park – post graduate studies 30,000 10,000 2200 $22,000,000Secondary private medicine clinics – dentistry – cosmetic surgery 20,000 5,000 3000 $15,000,000Nursing school 10,000 2,000 2200 $4,400,000Alternative and complementary medicine facility and school 20,000 500 3000 $1,500,000Herbal medicines - Osteopathy 2,000 500 2500 $1,250,000Health spas 5,000 1,000 2400 $2,400,000Sports injury clinic 10,000 8,000 3000 $24,000,0005 star hotel with discreet medical support for recovery and rejuvenation 30,000 12,000 3600 $43,200,0003 star hotel with medical support 20,000 10,000 3200 $32,000,000Retirement homes – with graduated assisted living to end of life 30,000 14,000 2200 $30,800,000Marine biology and diving school reef monitoring and coastal erosion 10,000 800 2200 $1,760,000Hypobaric chamber (links to medical facility) 500 150 4000 $600,000School of environmental studies, climate change adaptation, permaculture and alternative energy – (withSGU or independent University)? 30,000 8,000 2200 $17,600,000Expansion of SGU vet school 70,000 1,000 2200 $2,200,000Residential university town designed as to support the whole project and be a vibrant heart to thecommunity. 40,000 15,000 2400 $36,000,000Mix of detached and attached housing, apartments shops restaurants, student halls of residence 100,000 10,000 2200 $22,000,000Yacht club and dinghy sailing centre, dive, squash, tennis, gym, dance, yoga……. 25,000 500 2200 $1,100,000International School - children 4 to 18 years (especially the Senior School 11-18yrs) 10,000 1,000 2200 $2,200,000Hog Island – 86 acre luxury residential development 360,000 25,000 2400 $60,000,000Beach enhancement $2,000,000Sports fields tennis driving range pitch and put 200,000 $2,000,000Roads 160,000 75 $12,000,000Car parking 80,000 30 $2,400,000Electrical/Communications/Cable TV System $2,200,000Water Supply/Storage/Distribution System $4,500,000Sewage Collection/Treatment/Recycle System $4,000,000Landscaped park area 180,000 $2,500,000Totals 1,518,500 147,050 $446,255,850
  37. 37. Google earth shot – note how the site abuts Lance aux Epinesand Secret Harbour on the left which is the premier residentialarea in Grenada
  38. 38.  Hog Island site for luxury villas and hotel NB: the bridge to Hog Island is completed.
  39. 39.  Rogers Bar on HogIsland
  40. 40.  Mount Hartman Quarry – this is theproposed site for the new Hospital
  41. 41.  Dove sanctuary land in foreground with Hog island in thebackground, the island beyond that is Calivgny which is owned bythe French billionaire George Cowen which he has developed as aprivate ultra luxury resort
  42. 42. For further information andenquires Please contact:◦ Bru Pearce◦ Envisionation Ltd◦ E-mail:bru@envisionation.co.uk◦ Skype Name brupearce◦ Work +44 20 8144 0431◦ Mobile +44 7740 854713

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