By: Staff Reporter
May 18, 2021
Controversy surrounding an Egyptian billionaire investor in Grenada is continuing after his remarks made in front of Prime Minister Keith Mitchell on privatisation as citizens fear he is insulting and is disenfranchising them out of prime real estate on the island.
Naguib Sawaris, chairman of Weather Investment’s Company and Orascom Telecom Holdings, has caught himself in an ever unfolding island controversy surrounding his remarks made at a ground-breaking ceremony for his new project, “Beach House by Silver Sands,” in late April where he said referring to the Maurice Bishop International Airport to “Privatise the airport. Give it to the private sector. I think they can do a better job.”
The remarks made shockwaves around the Grenadian diaspora as protests developed as far as the Grenadian Embassy in New York, organised by
Sawaris, a major investor in Grenada and also the owner of the Silversands Grenada resort, made these remarks at that ceremony in front of Grenadian prime minister, and is also said to be frustrated with the level of service at the airport by Grenadian airport staff. He said that if it were to be privatised, the private owner would not tolerate the bad attitude and lack of friendly smiles when visitors come to the island.
Mr Mitchell did not say anything about the remarks made by Sawaris at the event, but in later interview in front of the media said that at “no time was there any discussion” about the privatisation of the MBIA. He added, however, that Mr Sawaris “has a right” to express his views about the airport and its management.
The MBIA is reportedly in a state of disrepair, this the government has acknowledged as they have signed a cooperation agreement for funding with the People’s Republic of China for an Airport Runway and Road Upgrade and Rehabilitation Project. The price tag is reportedly $150m USD and was signed in October, 2020.
This apparently should make Mr Sawaris happy when the rehabilitation exercises are complete. But this is not all Mr Sawaris has gotten himself into in Grenada. New allegations are swirling that he intends to buy up more property and landholdings in Grenada has he bolsters his company’s tourism brand.
This is in keeping with a promise the billionaire has made to the government of Grenada back in 2013 where he had promised to build three 5Star luxury resorts in the country.
Mr Sawaris currently owns the Silversands resort and last year bought the Port Louis Land and Spice Land for two additional tourism-related projects valued at over $350m USD.
People are now wondering if along with his eyes apparently on the MBIA and his recent developments at Port Louis and Spice Land, is Grand Anse beach next on the billionaire’s acquisition list as reports indicate to Caribbean Magazine Plus that emissaries of Mr Sawaris have already approached the Mitchell administration about the future of Grand Anse beach. There are several economic stakeholders and social sites of importance in the Grand Anse area, including the Coconut Beach Restaurant, the Theodore family property, the Grand Anse Roman Catholic Church, the Spice Vendors Market, the Dorset Charles property, Radisson: Camerhogne Park, Coyaba and the Spice Island Resort.
In addition to Grand Anse takeover fears, reports are circulating that the billionaire has eyes on the entire Port Louis stretch from the North right down to Point Salines, which would be at the doorstep of the MBIA.
Mr Sawaris is no stranger to making outlandish land deal proposals as in September, 2015 he offered to buy two private islands in the Mediterranean where he projected to spend well over $200m USD to support up to 200,000 refugees into Greece from the Middle East and Africa. Many have scoffed at the idea as ridiculous, but what is not ridiculous is Mr Sawaris’s real estate ambitions.
We are all living in a progressive world, if the natives wants to remain in N.Y, London, and Toronto without returning and making investments, let the foreign investors with foresight do it for them.
If The of Grenadians through cooperatives, patriotism and a sense of togetherness would come together to build, protect and promote Grenada, the Egyptian billionaire would not be able to do what the Grenadians are afraid of.
There are Grenadians in the diaspora, that has never returned to Grenada to even visit and these are the same ones who are demonstrating outside of embassies in foreign countries.
There are also Grenadians with money in foreign banks and when I say money I mean real money, who would not even open a bank account in their native country.
The Egyptian is aware of all of this and is capitalizing on their lack or foresight or cowardice.
Let him do his thing , while you all demonstrate!
I think the Egyptian investor is right, privatization of the Airport will be beneficial to all.
Privatization is not a negative gesture towards the Airport.
Peace and love to all Don’t let the so called Egyptian he’s a Hiksaw the sane people that took over the land of Egypt 🇪🇬 the Moors the So called Blacka-Moor Muurs are the founders of all yes the so called Black Negro and Coloured which is a lie we you are not a colour
The way anyone can go to Keith Michell and demand he hand over the future of the Grenaden people is shame full we’re is all the new hospital new schools and education training to uplift the country modern funny how modern Slavery his the same players