NAMCO official says 182 investors express interest in 55 Shell Beach lots for short-term rental development
A proposed investment subdivision at Shell Beach has attracted 182 expressions of interest for just 55 available lots, a senior official of the National Asset Management Company (NAMCO) said Saturday.
Speaking on the Browne and Browne Show on Pointe FM, architect Brian Donnellis, appearing in his capacity as a NAMCO official, said demand has significantly outpaced supply for the beachfront investment parcels.
“There are 55 lots that we can sell. We now have 182 people that are willing to come forward to buy,” Donnellis said.
The lots are being positioned as investment properties, primarily for villa construction and short-term rental use, including Airbnb-style accommodations, as part of a strategy to increase local participation in the tourism economy.
Donnellis said the property has already been subdivided and letters of interest collected, with land transfers now underway.
Prime Minister Gaston Browne, who appeared on the programme, indicated that the project is designed to give Antiguans and Barbudans greater access to coastal investment opportunities traditionally dominated by large-scale tourism operators.
With interest more than triple the available parcels, officials suggested additional land in nearby areas could be considered for similar investment development.
The Shell Beach initiative forms part of NAMCO’s broader effort to unlock state lands for economic participation by nationals, particularly in tourism-linked ventures.
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