Barbados Today

by Emmanuel Joseph

At a time when several businesses in Barbados are threatening to either send home workers or shut down, at least one venture has announced its intention to invest millions in a major expansion programme this year.

In an exclusive interview with Barbados TODAY, developer and real estate mogul, Paul Altman, revealed that this aspect of the centre was scheduled to open for business next month.

Altman said the centre, which is home to many of the world’s leading retail brands, along with The Grove, which offers upscale living accommodation in a mix of apartments, penthouses and townhouses, was a success story.

“I am excited that Limegrove is now very much the capital for retail high end shopping in Barbados and the Caribbean. We have achieved our objectives and are continuing to grow. For the first time, we are heading towards 95 per cent occupancy,” disclosed the prominent developer.

“We are at such a level of success now, that we are looking at building another phase to include a high level, multi-storey car park, additional shopping, food outlet, gym and retail stores,” he declared.

The respected real estate executive told Barbados TODAY that the centre was looking to invest between $5 million and $6 million in the infrastructural aspect, but with the prospective businesses putting in their own money to get things going, that could push the figure close to $10 million.

“In the space for the new phase, we will be putting in about 20,000 square feet. Right now, we are close to 100,000 square feet in the existing facility. The new building will have such world renowned brands as Burberry, Hugo Boss and a major Canadian offshore bank,” announced Altman. “We hope to start on the new phase around the middle of this year.”

The two-year-old Limegrove Lifestyle Centre in the heart of historic Holetown, is about to complete its 12th and final building of its original plan for the upscale shopping and leisure complex.

He also sought to lay to rest earlier concerns that Barbadians would not be shopping at Limegrove Lifestyle Centre.

“People were worried that Barbadians would not go there. However, a high percentage of Barbadians are patronising the centre, not only by their feet, but by their pockets,” he asserted.

The centre, which consists of more than 60 businesses on three floors, features such brands as Louis Vuitton, Gucci, Ralph Lauren, Michael Kors and Tag Heuer.

Several local businesses, including Altman’s Real Estate and Henrietta’s Closet, also form part of this high end complex’s offering. emmanueljoseph@barbadostoday.bb†