PHILIPSBURG:— The Pearl of China Project which was scheduled to start during the month of March 2017 has been delayed due to a clause that is in the deed for the land the developers purchased. SMN News learned that the original owner of the property Rudy Noos placed a clause (restriction) in the deed for the property where it states that no developer can construct more than a certain amount of units on the property.
According to information SMN News received is that the developer just recently discovered restriction that is in the deed and they are busy trying to work around restriction to see how quickly they could have the setback regulated in order for them to begin the . The Chinese developers intends to build a hotel with 360 rooms and 450 apartment units along with a huge showroom where other Caribbean nations could see and purchase Chinese products at the China- Caribbean Pearl.
SMN News further learned that the developers invited Minister of Finance Richard Gibson to China to assist them in finding a solution to their predicament in order for them to move forward. It is understood that Minister Gibson will be traveling to China at the end of April to further discuss with the developers.
At the ground breaking ceremony on September 19th 2016, the chairman of New Lifetown Shuqiang Cui aka Trey told reporters that they intend to create 400 stable and well paid jobs for locals, while ensuring that they will do everything to protect the environment.
With the latest developments it is not clear when the developers will manage to find a solution to the problems they have encountered and how soon the project will kick off.
Source: St. Martin News Network
EXCLUSIVE:— Pearl of China Project delayed due to clause in deed. Negotiations taking place to resolve the issue.