Caribbean Ripe With Investment Potential Says Top Investor
“The Caribbean is, now more than ever, a unique investment opportunity!”
That’s the assessment of one top investor, who insists he lives and breathes the Caribbean. David Brillembourg, founder, chairman & chief executive officer ofprivate equity real estate firm, Brilla Group, is adamant that the region is ripe for investment.
Brillembourg will bring this outlook to the 2011 Invest Caribbean Power Breakfast, presented by Hard Beat Communications and The Caribbean Tourism Organization, in collaboration with the Caribbean American Chamber of Industry & Commerce, and set for June 9, 2011 from 7:30 to 9:30 a.m. at the New York Marriott Marquis Hotel in New York City.
Brillembourg is among the top speakers, who include Vice President at Goldman Sachs, W. Dave Dowrich and will feature top Caribbean ministers of government, New York City Comptroller John Liu, investors and hedge fund maangers, entrepreneurs and top sponsor, WSEE TV and OneCaribbeanWeather.com.
Brilla’s investments are focused primarily on luxury beachfront hotels and resorts in the Caribbean even as foreign direct investment in the Caribbean and Latin American region grew strongly last year, jumping from US$5.5 billion in the first semester of 2009 to US$20.8 billion in the same period of 2010 according to The Economic Commission for Latin America (ECLAC).
China’s Ministry of Commerce alone reported that foreign direct investment in Caribbean countries by Chinese firms totaled nearly $7 billion in 2009, a more than 300 percent increase from the 2004 foreign direct investment of $1.7 billion.
Brillembourg sees the opportunity. “The Caribbean is a unique and long-lasting investment,” he added, insisting that anyone serious about investment should get on board.
He reiterated that the region looks solid throughout with lots of opportunities out there.
“For example, Turks and Caicos is coming out of the crisis well. But there is more than one location to look out for; all are maturing and diversifying. This is a wonderful time to be in the Caribbean,” said the seasoned entrepreneur with more than 20 years of experience in investing also in South Florida, Mexico, Central America and Colombia. “As a result of the global financial crisis and dislocation of real estate markets, the hotel sector was seriously affected due to the lack of funds and financing available for this sector. This macroeconomic situation caused the expected supply for new luxury coastal properties in the Caribbean, which were at different development or building stages, to rapidly drop (approximately 72%).”