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The Government has signed a US 2.6 Billion dollar agreement to construct what is described as a world class lifestyle development in the south of the island.

The agreement was signed by The Government of St.Lucia and Desert Star Holdings Caribbean (DSH) on Friday at the office of the Prime Minister.

The Vieux Fort area has been earmarked for the horse racing facility. Prime Minister Chastanet says this development will create jobs in the south and expose St.Lucia to a new market.

Chastanet says he is unsure why the signing of this agreement did not take place earlier.

Construction is set to commence in 2017. The Pearl of the Caribbean is expected to comprise a marina, a racecourse, resort, shopping mall complex, casino, extensive entertainment facilities and more.
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