--Thursday, 16 February 2006--

Ground broken on VG project

Government officials, local businessmen and interested persons gathered at the Virgin Gorda Yacht Harbour Monday to celebrate the project which will change the face of the area. The Town Centre development will remake the harbour with commercial and some residential space, and bring about 200 new jobs to the island.

While speaking to the gathered crowd of about 100 persons, BVI Investment Club President Meade Malone said his group has high hopes for the project. "[The Town Centre Development] will be a premier tourist destination in the BVI," he said. "I am very excited about what [the development] means for our ability to do things excellently."

A rendering of the project featured palm tree-lined roads and sidewalks cutting between buildings. The development is receiving financial backing from Banco Popular who will construct a new 2,500 square foot branch within the development.

Bank Assistant Vice President Ian Smith said the development represents a large step forward for Virgin Gorda. "Approximately 10 months ago we celebrated the purchase of the Virgin Gorda Yacht Harbour," he said.

"And now, looking at the rendering, I cannot help but be impressed. This will mean hundreds of new jobs and hundreds of millions of dollars in investment here."

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