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Invest in property, says developer

NATASHA BECKLES, [email protected]

Invest in property, says developer

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TAKE THE MONEY out of the bank and invest in a piece of the rock.
Real estate developer Elias Haloute issued the challenge this morning when he re-launched his Adams Castle Estate development project at the Savannah Hotel.
He said with all the reports of large deposits sitting down in Barbados’ banks, he was satisfied there was money in the island.
“If the money in the bank is there, and we have something to sell, we have to encourage the people who have the money in the bank to take it out and invest it in piece of the rock,” Haloute said in his pitch to several real estate agents and a few bankers and lawyers attending the event.
The developer has put up 73 building lots for sale at the prime Christ church site,  with considerable discounts on some, because he said he had taken the current state of the market into consideration.
He was confident Barbados would come out of the current recession as long as Barbadians demonstrated patriotism and thrift, and he admonished Barbadians to stop talking and start acting and working as they had been accustomed to doing. (GC)