Cabot Saint Lucia Golf Development Fact Sheet

1. CABOT
SAINT LUCIA
FACT SHEET
WWW.CABOTSAINTLUCIA.COM

2. ABOUT POINTE HARDY:
Pointe Hardy is located on the northern end of Saint Lucia
and offers incredible views of Esperance Bay
and the northern coast. This unique area has extensive
coastline, elevated views and an ideal rolling
landscape. This site, privately owned since the 1970s, has
been earmarked for development for decades
and is zoned for commercial and residential use.
CABOT SAINT LUCIA FACT SHEET

3. THE RAFFLES
PROJECT:
In 2007, Raffles Hotels & Resorts signed an agreement with
the Point Hardy Development Company, to manage Raffles St.
Lucia, West Indies at the Pointe Hardy site in Cap Estate.
Raffles St. Lucia was to feature a spectacular resort,
residential ownership opportunities for homesites and resort
residences.
Raffles St. Lucia was to be spread over 360 acres with 200-
rooms, 275 residential luxury villas, casitas, condominiums, 75
estate lots, including 35 exclusive Jack Nicklaus Golf Club
estate lots and feature a Jack Nicklaus designed 18-hole golf
course. The Raffles Project DCA Approval in 2007.
CABOT SAINT LUCIA FACT SHEET

4. THE RAFFLES
PROJECT
Due to the Financial Crisis of 2008, the Raffles project
experienced challenges and by 2012, the Bank of Nova Scotia,
through their appointed Receiver, sought the sale of the project.
By then substantial investments had been made in infrastructure,
planning, studies, reports and Government approvals.
The sale spanned approximately 366 acres of undeveloped
freehold land and the Leasehold Property including all those
portions of the Queen’s Chain bounding the Freehold Property to
the North and East and South, with the exception of Donkey
Beach, Secret Beach and Cas en Bas beach.
CONTINUED
CABOT SAINT LUCIA FACT SHEET

5. THE CABOT PROJECT
After remaining in receivership for seven (7) years, in 2019,
Canadian resort and golf developer Cabot Links purchased the
366 acres and announced plans to open its first international
property, Cabot Saint Lucia, located on Pointe Hardy. In
addition to a residential community with single-family homes,
this project will feature a 50-suite boutique hotel, three
restaurants and an 18-hole golf course designed by
Bill Coore and Ben Crenshaw.
For more visit: https://cabotsaintlucia.com/
CABOT SAINT LUCIA FACT SHEET

6. INVESTMENT/
COST OF CABOT
SAINT LUCIA
PROJECT:
EC$250 MILLION
The cost of construction of the
development is estimated at US$92million
or EC$250 million. Over the span of the
next decade The Cabot St. Lucia project is
projected to generate over EC$1 billion.
This will include resort infrastructure and
facilities, as well as, over 300 homes.
CABOT SAINT LUCIA FACT SHEET

7. JOBS DURING & AFTER
CONSTRUCTION
Cabot anticipates that the
development will create over 500
jobs when fully operational, in
addition to several hundred jobs
during the construction period.
JOBCREATION
CABOT SAINT LUCIA FACT SHEET

8. The NIC loan to Cabot also forms a very small part of NIC’s overall
investment portfolio and the return to NIC from Cabot exceeds the
average return on the NIC’s overall investment portfolio, which is
just under five percent. The return is also well in excess of the
interest rate earned on NIC’s considerable cash holdings at the
various commercial banks. NIC earns only 25 basis points (i.e. one
quarter of one percent) on its call accounts and an average rate of
2.35% on Fixed Deposits. The NIC Chairman confirms that the
investment by the NIC in Cabot St. Lucia satisfies the three
objectives of safety, liquidity and yield.
NATIONAL
INSURANCE
CORPORATION
(NIC)
INVESTMENT
LOAN TO CABOT
The National Insurance Corporation has entered into a loan
agreement with Cabot St. Lucia Inc. for The National
Insurance Corporation has entered into a loan agreement
with Cabot St. Lucia Inc. for EC$27.5 million, which
represents only 11 percent of the initial investment amount.
CABOT SAINT LUCIA FACT SHEET

9. National Insurance Corporation (NIC)
Investment Loan to Cabot
SAFETY
The loan is 100 percent secured by a first
claim on Cabot St. Lucia’s Inc assets
including land valued at EC$90 million.
The fully secured loan means that even in
a worst-case scenario NIC’s land bank
would be enhanced by 360 acres of
marketable land in a high-income area.
LIQUIDITY
At all times the NIC maintains
sufficient liquidity so that its
ability to discharge its normal
commitments to all its
stakeholders, especially its
pensioners, are not compromised,
now or in future.
YIELD
The return to the NIC is in excess
of the average return on its
investment portfolio.
The Cabot St. Lucia Inc. investment will in no way affect NIC’s ability to service its commitments to its stakeholders.
For more on the NIC Investment Policy visit: http://stlucianic.org/download/get/investment-policy-and-guidelines-2018/125/

10. Cabot has a strong track record of ensuring environmental
protection throughout all of its projects and has been certified
for doing so by the Audubon Certified Cooperative Sanctuary
for Golf. The Audubon Cooperative Sanctuary Program for Golf
is an award winning education and certification program that
helps golf courses protect our environment and preserve the
natural heritage of the game of golf. Cabot is working with
local government departments to ensure that this project
exceeds the standards defined by international law.
PROTECTION OF THE
ENVIRONMENT
CABOT SAINT LUCIA FACT SHEET

11. BEACH ACCESS
All beach front developments in Saint Lucia must
ensure by law public access to the beach. From the
outset of this project, Cabot has been - and continues
to be - committed to providing beach access. In
addition, Cabot has also made a commitment to
enhance Cas en Bas beach with improved road access
and new facilities for public use, such as outdoor
showers and washrooms, once the relevant
government permissions have been granted.
CABOT SAINT LUCIA FACT SHEET

12. THE QUEEN’S CHAIN:
Saint Lucia’s Queen’s Chain is considered to be about 186.5 feet
between the shoreline and land. A property developer can only
lease the Queen’s Chain and Cabinet will only consider based on
the following:
•The property developer has already bought or is in possession of
the property near the Queen’s Chain.
•Provide evidence of an Agreement for Sale .
Cabot has satisfied both of these requirements.
The Government’s renewal of the Cabot Lease,
previously held by Raffles St. Lucia, for certain parcels
of land deemed Queen’s chain does not include the
adjacent beaches (Donkey, Secret, Cas en Bas Beaches,
etc.). All beaches remain public!
CABOT SAINT LUCIA FACT SHEET

13. Cabot continues to work with the
Government of Saint Lucia and the existing
businesses in the proposed development area
to find workable solutions to preserving
these businesses and jobs, including,
camping, fishing, horseback riding,
restaurant and bars, including Marjorie’s
Beach Restaurant and Bar.
EXISTING
BUSINESSES
CABOT SAINT LUCIA FACT SHEET

14. ARCHAEOLOGICAL
FINDS
Cabot has committed to working with the relevant
agencies to preserve historical and archaeological
finds in the area and stands ready to enter into an
agreement with the Government of Saint Lucia or its
assigns on this.
CABOT SAINT LUCIA FACT SHEET

15. WATER USE
On its existing golf courses, Cabot has taken
aggressive measures to minimize use of water to
help protect the environment. One of the ways it has
done this is by using a drought-tolerant grass on the
golf courses. This minimizes the need for watering,
thereby lowering water usage.
In addition, rainwater is harvested to water the turf
as well as clean equipment, run the washrooms, etc.
The same will be duplicated in Saint Lucia. The golf
course will not use water from the country’s fresh
water supply.
CABOT SAINT LUCIA FACT SHEET

16. Approvals
The Development Control Authority (DCA) is responsible for directing and regulating the orderly development
of land in Saint Lucia, under the provision of the Land Development Act. Written permission is needed from
the DCA prior to the physical development of any property. The Authority seeks to ensure that in every
situation, proper standards of physical development are maintained, and the use intended for the land is not
inconsistent with environmental, zoning or planning considerations.
Permission has been granted by the DCA for all work currently underway at the site. The DCA has requested
an update to the Environmental Impact Assessment (EIA) previously completed for the site, which is currently
underway. Cabot assures the public that it has been and will continue to be in full compliance with all local
regulatory requirements. Construction has not commenced in the Cas en Basbeach area.
CABOT SAINT LUCIA FACT SHEET