KINGSTOWN, St Vincent and the Grenadines — Invest SVG has signed a Memorandum of Understanding with Luxembourg-based developer Nativo Group to advance plans for a proposed US$100 million eco-resort on the Grenadine island of Mayreau.

The agreement, signed at the Ministry of Foreign Affairs on September 30, establishes a framework for cooperation on SOMA Mayreau, a planned hospitality development featuring more than 100 rooms and villas, wellness facilities, dining and marine experiences.

The project is expected to be privately financed through foreign investment and commercial bank financing, without relying on government funding.

Construction is scheduled to take 24 months and is expected to create local employment, support skills development and generate business for local suppliers.

Minister of Foreign Investment Dwight Fitzgerald Bramble said investment on Mayreau must take the island’s environment, character and residents into account.

“Mayreau is one of the treasures of Saint Vincent and the Grenadines. Any significant investment on the island must respect its character, its environment and, above all, the interests of its people,” Bramble said.

He said the proposal’s focus on the responsibilities associated with development on a small island was encouraging.

“What is encouraging about the SOMA Mayreau proposal is the attention being given to the responsibilities that come with developing on a small island. Reliable infrastructure, responsible waste and water management, jobs and training, while providing a meaningful voice for residents that must be part of that work,” he said.

Beyond the resort, Nativo has prepared an integrated water, waste and resource management strategy aimed at reducing waste at the source and retaining useful materials on Mayreau.

Proposed community initiatives include restoring the historic Mayreau Parish Church complex, village improvements, strengthening water and energy resilience, food production, apprenticeships and environmental restoration.

Priorities would be determined through community consultation, with governance, funding and delivery arrangements to be established.

Nativo Group chief executive Danny Germaine said the company wanted to create a hospitality destination that reflected the island’s identity while benefiting its residents.

“The measure of success cannot simply be the hotel we create. If we are going to build and operate here for the long term, the investment has to create meaningful opportunities for the people already living and working on Mayreau. We want SOMA to contribute positively to the island, economically, environmentally and as part of the community,” Germaine said.