TIMC's Chief Communications Officer, Ms. Jeanne Labbé, had the priviledge of meeting with Mr. Jeff Hadeed, CEO of the Antigua South Point Development. I would like to share with you today her interview notes on this inspiring journey of a natural entrepreneur passionate about design and quality
Ms. Jeanne Labbé:
Thank you for taking the time to meet with me today Mr. Hadeed. My goal with this interview is to ensure our customers, International High Net Worth investors, know of the quality of your project: the quality of building material, the attention to details, the quality of location and for them to get to know the developer, yourself, a little better.
1. Let's start from the beginning of the story, tell us about Jeff Hadeed and how you got started into Real-Estate?
I am a proud father of a 12-year-old daughter.
I was born in Trinidad, where my father was in the clothing manufacturing industry. We moved to Antigua when I was just a toddler. I studied 15 years on the island, and then moved to the US and studied at the University of Florida. While at university I took a gap year during which I ran one of my father’s businesses in St-Marten and then after completing university I went on to Italy to study a long-time passion: fashion design.
I then returned to Antigua with the intention to stay, and began my entrepreneurial career working with my parents and exporting local fish. I then bought my first restaurant, where I worked as a night bartender, Big Banana, which is now very popular on the island.
I have also started a speedboat chartering company, a fashion boutique, a concierge service, and an import & distribution company. I created all the infrastructures necessary to support my business activities on the island.
I also manage Mr. Giorgio Armani’s properties on the island. I have always been involved in construction in some way, having built 5 restaurants from ground up and my own home.
2. Are you a detailed person or big picture person?
Extremely detailed. I notice everything. I love good quality and design.
I guess you can say I am design passionate: I travel the world to attend design tradeshows. I make sure I meet everyone I employ, from the gardeners and stewards to managers, to make sure that they fit the culture of my companies.
3. What inspired you to start the South Point project?
I always felt that being in a marina creates the feeling of being in a city: you can walk to everything. This location is not remote like the other resorts, which is unique in Antigua. No other hotels or condo developments are like a hub, an active entertainment place, as South Point is.
4. How long have you been involved in this project?
We purchased the property in 2000. Our original idea was a 20-room boutique hotel, but it was our banker who suggested a condo-hotel concept.
5. Can you please tell us more about South Point's theme?
I wanted to create a theme which resembles city hotels, like the Delano in Miami, the Royalton, the Paramount, and other Schrager hotels. Very happening, close to water, where people who are lifestyle driven come in from all over the world. The fact that we are in a marina gives our guests the feeling of almost living on a boat: everywhere you look, you see boats around you. Boaters especially enjoy this feeling about our resort.
6. What about the materials you used?
Mostly everything is imported from Europe: Italy, Germany, Sweden, and Denmark. Some of the furniture is from the Far East. Everything is high quality and with great attention to detail.
7. The project has created how many jobs for Antiguans?
50 people during construction, and now 50 employees. When the project will be completed, it will be 60 people. The restaurant itself employs about 25.
8. How many condo units have been sold so far?
15 out of 23.
9. When do you forecast all units will be sold?
I would say in about another 2-3 years
14 units are available for hotel rental. 6 additional will be added, for a total of 20 units in the hotel product.
8 units are available for Citizenship by Investment, and 6 more are to come.
I would say we need another 2 years before being able to see our projected returns.
10. How many investors have purchased a unit in South Point through the Citizenship by Investment Program?
3
11. What is the property’s greatest advantage over other investment properties being built on the island and approved by CIP?
Location, location, location!
Standard of service & standard of physical equipment.
We did not develop this project focused only on the money, we are committed to it: it is the most expensive per square foot CIP real-estate on the island I believe. I am committed to it, and have been working on the project for 10 years.
It is a very high-end product, already built, and the keys are ready.
A 3000 sq-feet gym on 2-floors is currently being built facing the water. It is our intention to have it ready in the first quarter of 2017.
Thank you very much Mr. Hadeed for inspiring us on your beautiful project by the water.
