A group of Italian developers has cried foul over the pricing for restarting construction of the much-talked-about Four Seasons Resort and Residences project at Paradise, St Michael.
They claim that the stalled project is considerably over-priced and want the Freundel Stuart Government to get involved “to iron out a balanced and reliable solution based on fairness and transparency rather than greed and selfishness”.
“Value of the site (Four Seasons Resort and Residences project) is nowhere near the US$105 million,” Elio Raccah, spokesman for the group, told SUNDAY SUN in a telephone link-up from Italy.
“Someone asserts that the works have been paid about US$60 million but where has the remaining US$45 million added value to the project?”
But Avinash Persaud, executive chairman of Paradise Beach Limited, developer for the Four Seasons project, has dismissed the Italians’ claim and hinted that before monthend, a recommendation could be made to Government for the take-over of the former Paradise Beach Hotel site.
