Managing director of BNB, Robert Le Hunte (left) shakes hands with Minister of Tourism, Noel Lynch, as Bruce Bayley, part owner of Growth Development Inc., looks on. Growth Development Inc. owns 51 per cent shares in the Sapphire Beach project
Growth Development Inc. owns 51 per cent shares in the project, while Hotels and Resorts Ltd owns the other 49 per cent. Growth Development Inc. is owned by Jada Development who is the contractor on the project, as well as Bruce Bayley and Peter Harris who are private investors.
At BU we are always happy to see government partnering with private sector to develop Barbados. More companies need to come forward and help to mobilize development in the country. In the interest of transparency, we are asking that Minister Lynch tells the public something about the set-up of the company and other relevant details behind the Sapphire Beach Project. The development is where the bulldozed Dover Convention Centre was located. We are please… it appears that something will be rising into the skies from that location soon, after several years of nothingness. This now explains why Minister Lynch was hesitant to reveal information on the famous Sunday Brasstacks program a couple months ago. We find it interesting because a search of the registered companies in Barbados reveals that Sapphire Limited was created in 2004 when quizzed by Adrian Loveridge!
Come to think of it Minister Lynch, the planning of this project would have been ongoing at the time you created history by walking-out from that live David Ellis program. We do remember you declining to answer questions on the financial health of HRL ltd. If negotiations were happening at that time, a man who is known to be seized with all information regarding his ministry, would he not have known a ball park number when asked about the debt burden which HRL aka GEMS was carrying at the time?
- How is the government of Barbados financing their 49% in Growth Development Inc? Is it coming from the Consolidated Fund or private sector funding?
- Does this company fall under the purview of the Financial Management and Audit Act 2007-11 or is it set-up like HRL Ltd?
- Whose idea was it to go with this concept, government or private sector?
- The philosophy of the government when they established Hotels and Resorts Limited, has it changed? BU read somewhere that Hotel and Resorts Ltd was set-up to improve hotel room stock on the South coast. It appears that the Sapphire Development will be high-end condominiums.
- How was the bank selected to partner on the project? Was there some tendering system to determine which bank might offer the best financing package to ensure that the taxpayers of Barbados benefit?
There are other questions which BU will ask in the future; however, we accept the ground breaking yesterday, and that there will be time for more information to flow into the public place.
Related Barbados Free Press Story
30 responses so far ↓
Adrian Loveridge // July 12, 2007 at 6:57 AM
Condominiums being built by a private sector company for sale on Taxpayer’s land.
Yet we have no idea of just exactly how much Hotels and Resorts Ltd are in debt and when did they last publish audited accounts?
David Shorey, still Chairman. How ‘we’ continue to reward people for failure!
And as Minister Lynch seems to be finally up-to-date with the goings-on with GEMS, can he please tell us where the proceeds from the sale of Eastry House and Silver Rock (transfer tax exempt) GONE?
Wishing in Vain // July 12, 2007 at 8:40 AM
And again we have another piece of beachfront property being converted into condos as is the case with the old Dover convention center.
When are we going to learn that these condos are going to be the doom of our hotel industry we are having a constant decline in hotel rooms meanwhile the condos are increasing at a rate just look at the prime real estate along the west coast that is now moving from hotels to condos.
I am very happy to see that they have made Sandy Lane remove the bricks from across the road in front of the road of the hotel this is a good move wonder who allowed it in the first place was it the PM and only after the pressure he changed his program.
NO more condos we need more hotel rooms fix the ills in the industry and allow hoteliers to make money and let them grow this can only be done by having someone with a brain heading the ministry of tourism and certainly Lynch does not fit this bill replace him install Adrian Loveridge or someone with a care and understanding of the industry not an idiot like Lynch.
Wishing in Vain // July 12, 2007 at 10:15 AM
I have to say that I am impressed with Adrian’s passion that you invest in the subject of the hotel industry and tourism as a whole.
Sadly the likes of Lynch and company have not got that passion nor care for the industry they are totally limited to doing what creates a return to their bank account sad but true.
Bruce Bayley and company in the news today they have been the ones sponsoring the buy out of the lands for Owing and company when you can use your office to change use of land to allow for commercial developments as is being done now for a faciliators fee to the tune of $ 5 million because of your close association with the PM then we can safely be said to be living in a corrupt state with corrupt politicians controlling our destiny.
What are you hearing about the Petra Roach sitution in the tourism boards office in London ?
Will the public be made aware of the scam that is on going ?
What have you heard about WITT not paying $ 15,000.00 in fees is this because of favours for favours ?
We need to wake up and take action in this island before we find that it is no longer ours, when you consider the change in property transfer tax that is designed to help the west coast property owners in their sales of condos etc but yet we can get no relief from the VAT on fuel for our electricity bills.
You want to tell me that this could be a caring gov’t ?
Caring only for their healthy bank accounts and how to keep them growing.
Trying to make a comment but // July 12, 2007 at 10:39 AM
I see today that we are starting yet another condo project this one being sponsored by the gov’t of all people I thought that I heard it with my own two ears that minister lynch stated that research was being done on the impact of condos on the tourism sector but yet we commit taxpayers monies to this project before the research is done?
This appears backward step to me this latest project must have the directors and shareholders of Jada smiling as they have conned the gov’t to free up our taxpayers land to build condos that a few of them will be making a handsome profit from,to be built on another piece of taxpayers owned beachfront property that would serve well as a hotel location.
Somehow I think we have the cart before the horse here ??????????
My other question here would be how much money is Noless Lynch making for arranging this deal with Bayley and company ?
We have to seriously address the issue of these hotels versus condos and I am amazed that the gov’t can be party to such a development in this present setup this is nothing short of madness, what do we the taxpayers get out of the sale of our lands in this arrangement ?
james // July 12, 2007 at 11:26 AM
Wishing in vain: Very interesting. What Petra Roach situation are you referring to ?
Wishing in Vain // July 12, 2007 at 11:28 AM
It appears that she and her Boyfriend have been scamming the office for some while now.
james // July 12, 2007 at 11:51 AM
If true, that’s very dissapointing indeed. I hear that she’s done excellent work for Barbados in the UK tourist market and is probably well paid for it. Is this something that’s official yet/ an investigation in progress or just inside talk so far ?
Zulu // July 12, 2007 at 12:14 PM
“Growth Development Inc. owns 51 per cent shares in the project, while Hotels and Resorts Ltd owns the other 49 per cent. Growth Development Inc. is owned by Jada Development who is the contractor on the project, as well as Bruce Bayley and Peter Harris who are private investors.”
*****************************
Clarify: are you saying that Bruce Bayley and Peter Harris are part owners of Growth Dev Inc?
If HRL is putting in 49%, is the land on which the condos are to be built owned by the taxpayers? Is this another Kensington Oval scenario where the gov’t built on lands owned by the BCA?
TTMACB
I have to agree with you. The minister is on record as saying that research has to be undertaken on this whole condo/hotel thing.
These ppl are sick to the core.
WIV, is this Petra Roach affair another Dale Miller in the making? Some folk just follow the example left by the MPs.
Hmmmmmmmm!!!!!
Waiting to see how dis pan out.
Wishing in Vain // July 12, 2007 at 12:31 PM
I am waiting to see when she is recalled home to be confronted with it but her former husband is a big BLP man so who knows if he begs for her what will happen
Corruption is no laughing matter but it certainly appears to be with this bunch.
Zulu // July 12, 2007 at 12:36 PM
Who is de husban’? And wha he does do?
Wishing in Vain // July 12, 2007 at 1:35 PM
He was a Roach guy he had a brother that used to work for BWIA he was a dancer and went to New York and caught AIDS and died years ago, his other brother worked for Air Canada, another hotelier that is close to Owing used to service her before this young boy was on the scene.
Conflict of Interest? // July 12, 2007 at 4:58 PM
Does David Shorey Chairman of HRL sit on the board of CGI insurance? If he does, is the involvement of Bayley and Harris in Saphire not a conflict of interest?
Wishing in Vain // July 12, 2007 at 5:25 PM
Have you seen Owing and company operate anything goes when they can con us out $ 200 million in the prison they can do anything and get away with it.
David // July 13, 2007 at 6:55 AM
Conflict of Interest ~ it certainly is but what are you going to do about it? When Mascoll was on the other side he was instrumental in bringing some pressure with the JAWS affair but Shorey withstood the barrage with Wilkinson being the “fall guy”. In fact Wilkinson appear to be doing very well financially since leaving the CEO of GEMS job.The last time we checked Wilkinson appears to be still on the Llaro Court invitation list so he did not fall very far. It is amazing that the GEMS concept has failed but many of the same players appear to be involved in its transformation.
A constructive point we think which has been loss to all all so far. The BLP has some advantage by having Mascoll on their side now. They can ensure that all mistakes made on the GEMS project are avoided on the Sapphire project!
Adrian Loveridge // July 13, 2007 at 7:18 AM
David.. Amazing TRULY amazing…
But it seems to be the modus operandi..
reward people for failure!
Did we ever discover why David Shorey was removed as Chairman of the former Caribbean Commercial Bank?
Wishing in Vain // July 13, 2007 at 10:01 AM
David you have to be going crazy what this really means is Malik with teeth is now fine tuning his stealing skills to bring them up to same levels of those on his side now, he certainly will be well taught well if Lynch, Liz Thompson, Clarke, Marshal, Mottley, Duguid actually he may learn from any of them they all pass the exam in corruption and stealing, now if wants to move to the higher level of learning he would need to consult with Hallam Nicholls, David Shorey, Glyne Bannister and Owing See thru Arthur, this group have written new standards in corruption of public funds and funnily enough they are now getting so bold and outright with it that it is unbelieveable.
Wishing in Vain // July 13, 2007 at 10:09 AM
BFP Link
Is this project going to be using Chinese Labour as well.
Peltdown Man // July 13, 2007 at 2:49 PM
What usually happens with these condo projects is that the devlopers each get a condo as part of their “cut”. They then sell it or rent it for personal rather than corporate gain. It also avoids income tax. Neat.
Wishing in Vain // July 13, 2007 at 3:41 PM
Peltdown ManAre you telling me that the top two floors of this erection will be for the sole use of Owing, Lynch, Bayley and their clan of crooks?
Peltdown Man // July 13, 2007 at 3:43 PM
WIV
No, because I do not know which individuals will get a condo, if indeed, anyone does. What I said was that this is what “usually” happens with condo projects.
David // July 13, 2007 at 8:48 PM
Adrian~we have been unable to find out why CLICO fired Shorey but found out some interesting titbits from the past which appear relevant with the news of the Sapphire Development.
MARCH 26, 2003 – Mascoll on Arthur’s modus operandi of creating state-owned private companies.
“There is a strategy on the part of the Owen Arthur Administration – establish private companies that will not report to Parliament in any reliable time period, just like GEMS – two years later you are not sure what has happened over the last two fiscal periods. You have to guess about the losses at GEMS. You are going to have to guess about the Hilton.”
OCTOBER 25, 2002 – Mascoll attacks Arthur on his connection with close friend, GEMS boss, Rodney Wilkinson, and accountant David Shorey.
“How could you not know that your best friend [Rodney Wilkinson], who was in your ministry, who then turned around and got a job as chief executive officer of Gems that was under your portfolio, how could you not know of his elevation? . . . There is lots to be revealed. I am a researcher and I intend to research this to the bone.”
“. . . This is the same Shorey of GEMS fame, chairman of Hotel and Resorts Limited. The same Shorey who was consultant to Cable & Wireless at their failed rate hearing. The same Shorey that Government paid a quarter-million dollars for a cricket study for the BCA (Barbados Cricket Association)”
Source of Information
BVD // July 13, 2007 at 10:36 PM
Wishing in vain your commants on Petra Roach caught my attention. What is the scandal around her about? Please give us more information. I worked with her at Barclays. Is O one of the initials of the hotelier who seviced her. A high ranking diplomat was also named in giving service. Connections, connections, connections. When he was tourist industry minister Payne either fired or wanted to fire Petra Roach. Anyone knows why? I am surprised she is back in the tourist business.
Wishing in Vain // July 14, 2007 at 12:25 AM
His initials are B first name A middle name W last name he use to service Beverly as well.
Seems to me it was a case of wuk for wuk.
Wishing in Vain // July 15, 2007 at 3:51 AM
I wonder if David Ellis or anyone from the media may have considered booking an interview with Hallam Nicholls and or Glyne Bannister to seek their input as to their involvement with Owing et al afterall his name has been mentioned in the house and it was stated that he collects a commission on every and that is every vehicle coming into the island for the gov’t of Barbados that includes the fire trucks the trams at Harrisons cave every vehicle coming into Barbados that is criminal indeed.
Surely as one who is so involved in everything that happens in Barbados he would love the chance to comment and clear his or their names of the dirtyness it has now.
BVD // July 15, 2007 at 7:40 PM
wiv
Any more news on Petra Roach scandal? Enquiring minds want to know.
Is W a hotel man living in rich part of town with several fingers in the pie? O is a sleepy hotel man who provided service too .
As you would expect muscle mary did not do any servicing.
Wishing in Vain // July 16, 2007 at 12:00 AM
No awaiting further news now, I think you got your man from the West and North.
No MM not likely to be playing in that ling.
Wishing in Vain // July 16, 2007 at 11:58 PM
Od le and a movie with a person that dies but they keep him around Bernie does something.
Still trying pick up pieces on this story with Roach but more will follow, you think we could ask Noless Lynch what is really going on in the tourism board in London is this a case of monkey see monkey do ?
Wishing in Vain // July 17, 2007 at 10:12 AM
BVD you keeping your ear to the ground on this one?
Lets see if Lynch can tiptoe around this issue in his ballet shoes so as not to keep any noise.
He would be more at home in ballet shoes than cowboy boots anyway.
Or will he turn a blind eye to matters there to maintain peace and unity in his ministry.
This level of incompetence cannot be allowed to roll on unabated or controlled the ministry needs direction that is sadly not getting from its minister.
Undercover... // July 25, 2007 at 1:53 PM
Sometimes i see the german doctor outside daughter partying real hard with her friends in Barbados.I ask a friend mine who very friendly with her who is paying for all that.
Condominiums In Barbados~ A Question Of Balance « Barbados Underground (BU) - bringing the news to the people // March 8, 2008 at 6:58 AM
[...] Minister Barney Lynch was the biggest proponent of the condo model for Barbados. Did he not partner with Bruce Bayley and the Barbados National Bank to build condos on the South Coa… Now that the government has changed it would be interesting to find-out if this is another project [...]