(CHARLESTOWN,NEVIS–MONDAY, AUGUST 16TH, 2010) Developers for the Charlestown Harbour Shopping Village Project, Namdar Brothers Realty Ltd. have confirmed their commitment to redevelop the Charlestown Waterfront. Premier of Nevis Hon. Joseph Parry announced in an interview with the Department of Information on Monday Morning, that according to a letter received from the St. Kitts based developers, the ground breaking for the project is earmarked for Tuesday, January 18^th 2011.

Premier Parry said it was wonderful news and he is pleased that the Namdar Brothers Realty was committed to the redevelopment of downtown Charlestown. He also said that Mr. Aaron Karimzadeh, Managing Director of Namdar Brother Realty said they were hopeful that the project would become the touristic focal point of Nevis, for the benefit of both locals and tourists.

“The redevelopment of the Charlestown Waterfront is promised to be an up-market development that would be attractive to cruise and land based tourists.  The site would hold up to 25 or more stores, with a number of the shops selling brand name clothing, leather goods, duty free perfumes and restaurants,” said the Premier.

Based on the agreement that the Nevis Island Administration signed in October, 2009 with Namdar Brothers Reality, the lease will be for 25 years and the development of the Charlestown Waterfront will be constructed by local contractors.

The Premier noted that local workers will be employed to execute the bulk of the work on this major project, as the development project will be beneficial to the island of Nevis.

The Harbour Village will encompass an area south of the Charlestown Main Pier consisting of the customs building, the waterfront and the surrounding Charlestown Market.