If all goes well, a new group of investors from the United States will take over the development of the Flag/Temenos project which closed operations in the second half of last year, sinking Anguilla’s economic and financial hopes.

Hon. Victor Banks

This was reported to the media on Wednesday this week by Minister of Finance, Economic Development and Tourism, Victor Banks, who said he and other Government officials met with the investors on Friday, March 13.
“I must admit that I felt very encouraged by that particular meeting and the Principals involved have expressed an intention to close the deal within sixty days. If that doesn’t happen within sixty days it means that we are back to the drawing board, but I feel encouraged,” he said. “These issues are very complicated so obviously, they will require some negotiations. One element of the problem is that the golf course facility will probably be in the hands of a consortium which involves not only the owners of the golf course but others. That too might change but that is what is being proposed at this time. There is a lot of interest generated from being a part of that consortium, especially by a hotel which has a lot to benefit by ensuring that their customers have preferential treatment in accessing the golf course.”
Mr. Banks observed that a golf course facility was an important addition to the tourism product and attracts a large percentage of visitors [up to 20%] in addition to normal travelers to destinations like Anguilla.
The Minister of Finance expressed the hope that there would be positive results surrounding the interest of the new investors in the Flag/Temenos project.

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