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RBTT Merchant Bank recently extended its services into the French Caribbean when it closed a Euro-denominated transaction to assist with the construction of an office tower in Martinique’s capital, Fort-de-France. The €51,665,625 syndicated loan facility was arranged for the Maltese real estate development company, Gamay Investments Ltd., which is developing the Pointe Simon Waterfront Project. The 20-storey office tower is one of three sub-projects that constitute Phase 1 of the Waterfront Project. A 190-room Marriott Hotel and 40 luxury waterfront condominiums are the other Phase 1 projects. Having experienced a period of urban decay with the abandonment of downtown areas over the past 30 years, Fort-de-France is currently undergoing major urban redevelopment. The renewal programme includes façade improvements in commercial districts, significant road and bridge repaving and widening, the creation of pedestrian zones, a lit boardwalk along the waterfront of Fort-de-France, and the overall revitalisation of the waterfront of the Pointe Simon Peninsula. “Pointe Simon is considered the centerpiece of the urbanization drive of Fort-de-France. RBTT Merchant Bank is pleased to be involved in a project of this magnitude and profile, as we feel confident that the social and economic benefits to this vital city will be felt for years to come,” said RBTT Merchant Bank Deputy Managing Director, Filippo Alario. “The successful close of this transaction validates RBTT Merchant Bank’s commitment to the larger Caribbean through the development of a vibrant capital market.”RBTT Merchant Bank’s initiatives around the region have traditionally placed emphasis on pioneering capital market activities to raise funds for ventures such as infrastructure, manufacturing, communications and agriculture projects in locations such as: Trinidad and Tobago, Barbados, the US Virgin Islands, St. Maarten, Costa Rica, and Guatemala. RBTT Merchant Bank is a subsidiary of the RBTT Financial Group, which has operations in Trinidad and Tobago, Jamaica, Barbados, the Eastern Caribbean, the Netherlands Antilles, Aruba, Suriname, and Costa Rica.
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