The owner of the Four Seasons Resort and Residences has signed a new memorandum of understanding (MOU) with the Government of Anguilla committing to long-term investment in the island.
NW Anguilla Property, which acquired the resort in July 2022, has until now been operating under the government’s 2015 MOU with former owner Starwood Capital Group.
In that time, it has undertaken several upgrades to the property and has contributed US$5 million to build the new Landsome Bowl Cultural Centre – which is now near completion.
The new MOU formalises the company’s commitments and details government requirements over 28 years.
Over the next three years, the company – a division of Dart based in the Cayman Islands – plans to invest an additional US$60 million in developing the resort.
It has also committed to carrying out continued upgrades every seven to ten years.
During the official signing on 10 July, Premier Ellis Webster said it is a great occasion for Anguilla and welcomed NW Anguilla Property as the government’s “partner”.
MOU specifics
Webster said there have been “some upgrades” to the old agreement which are in keeping with what the government sees as necessary to benefit the people of Anguilla.
The commitment to investing in Landsome Bowl Cultural Centre was formalised, he said, which is the number one new clause.
The MOU says that if the build runs over $5 million, the company will continue to pay the extra costs but will get the money back in credits, the premier said.
Also, if NW Anguilla Property uses foreign contractors, money must be put aside in escrow or by other means to make sure it is available to pay local staff if they leave the island.
“The other thing that we have done in this, is for that commitment to be made by Dart and NW Anguilla Property, that they are here for the long term,” the premier said.
Usually MOUs are for 20 years and this one is for 28 years, Webster said, which will allow for four cycles of renovations to take place.
‘Warm and welcome’
Jackie Doak, director of NW Anguilla Property, said her first visit to Anguilla was in 2015 and she was “really, really impressed”.
“From the arrival at the airport to the journey to the property, from travelling around the island visiting the restaurants, the stores, and just meeting the people of Anguilla,” she said.
“The level of hospitality that we encountered was warm and welcome all over the island. Without a doubt the people of Anguilla make you know how to feel very special.”
Since buying the property in 2022, the company has made a number of small but important improvements such as landscaping the entrance and planning a new staff canteen, Doak explained.
“We have also created a long-term strategic enhancement and enrichment programme and anticipate investing over $60 million in the next three years,” the company director said.
That will go towards the expansion of the restaurants, renovating the guest rooms and villas, and creating a new spa.
Investing in people
“As extraordinary as the properties may be, as we know, at the end of the day, it is the people that bring the resort to life,” Doak said.
It is down to the experiences they deliver and the memories they help create for guests that will get them to return, she added.
The NW Anguilla Property director said that Dart has a strong history of investing in communities and its dedication to the next generation is very strong.
As well as committing to the rebuild of the Landsome Bowl Cultural Centre, the company plans to deliver on the continued economic growth of the island and community, Doak said.
“We are grateful for the opportunity to work alongside you to collectively take the island of Anguilla from strength to strength,” she told the government ministers.
Jim Lammers, director of Dart Enterprises and of the Dart Foundation, echoed Doak’s sentiments and said the company is “thrilled to now have a touch point here in Anguilla”.
Social contribution
Kenneth Hodge, acting culture minister, said Anguilla owes “an eternal debt of gratitude” to NW Anguilla Property for its contribution to the cultural centre.
He thanked the designer along with the technical staff, and said it is a “proud moment in The Valley community”.
Haydn Hughes, minister of Infrastructure and tourism, said that from the outset, the company came to Anguilla to both invest and to give, and had “no hesitation” in supporting the new cultural centre.
“It isn’t often that we have developers and investors come to our shores that are willing to really contribute to the social, economic and physical infrastructure for the people,” he said.
The $5 million that NW Anguilla Property paid towards the cultural centre is the largest any developer has granted, and the people of Anguilla are grateful, the minister added.
The Four Seasons Resort and Residences is set on 35 acres and boasts 32 guest rooms, 103 private residences, condominiums, and townhouses, along with 31 two-storey villas.
