The Finance Ministry has indicated that it will be issuing another public invitation for applications for an approved integrated resort development order for the St. James Geographical Zone.
This after the Ministry did not grant an order to an applicant who failed to meet the requirements.
Integrated resort development relates to establishment of luxury resort developments that include, but are not limited to, hotels, villas, spas and other recreational facilities, shopping centres and casino gaming.
An integrated resort development must have a minimum of 1,000 hotel rooms of which 500 must be luxury rooms.
Additionally, the development must have a minimum capital investment of US$450 million.
The Government has three exclusive geographic zones; Hanover/Westmoreland, St. James, and Trelawny/St Ann.
Portfolio Minister Dr Nigel Clarke told Parliament yesterday that the Government received applications from investors for licences for 2 zones; Hanover/Westmoreland, and St James.
Dr Clarke said the Hanover/Westmoreland zone development is underway, with construction of the facility advancing on schedule.
Dr Clarke noted that there were issues with the applicant for the St James zone, and extra time was given to complete the process.
However, the enterprise team determined that the investor did not meet the requirements for mandatory financing disclosures.
As a result, the application process for the St James zone will be reopened.
