100 million investment in Stake Bank Print E-mail
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Friday, 01 September 2017 00:00

On Friday August 25 after much delay, the Feinstein Group signed on to an investment agreement to construct a world class cruise ship docking facility at Stake Bank off the coast of Belize City. According to the Michael Fienstein, a principal of the group, the investment is for 50 million U.S. dollars and will commence immediately after the hurricane season is over. Construction will take approximately 18 months and as many as a thousand employees will be hired to execute the project. The facility will feature a resort complete with a theme park. It will accommodate four voyager class cruise ships with a marina and an 80 room luxuy hotel. The theme park will have water rides a roller coaster and aquaria.

At Friday’s signing Attorney General Hon. Michael Peyrefitte signed on behalf of the Government of Belize while Michael Feinstein signed on behalf of the development group. According to the Attorney General, the signing came after over 5 months of back and forth between the developer and the government. He added that the agreement is legal and both the government and Stake Bank are satisfied with it in particular that it is compliant with the law especially that exclusivity would not be entertained.

Speaking at the signing, Feinstein said that the project has been on and off for many years but that finally it is now a reality. He said that “I can guarantee you that in 18 months ships will be docking in Belize”.