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HOME	DECEMBER 17th, 2005

South City finally opens

Approximately 100 employees will start work on Friday at the South City Plaza following the opening of eleven (11) stores at the facility on Tuesday.

The project is an initiative of businessman Finton De Bourg, the Chief Executive Officer (CEO) of Capital Bank International who opened the facilities in the presence of reporters.

De Bourg also used the occasion to launch a South City Plaza Credit Card that is linked to his Capital Bank. “The Shopping Mecca of Grenada”, as De Bourg referred to the facility has been a long time in coming.

He spoke highly of his accomplishment noting that this is the first Duty Free Mall of its kind in the Caribbean. But despite his project growing to fruition, he pointed out that it did not materialise without sacrifice and pain.

He recalled that more than a year after the passage of Hurricane Ivan in September 2004 things had looked bleak, not only for Grenada but for South City Plaza.

The multi-million dollar building was used as a shelter by more than 400 residents of Grand Anse and the surrounding areas rendered homeless immediately after the passage of Ivan.
De Bourg said there were so much setbacks and damages to the facility in excess of $2 million, and he was not compensated for the losses suffered.

Despite this setback, the businessman is confident that the services to be offered at South City Plaza will be second to none. All of the stores on the compound will be duty free except for the supermarket and drug mart.

He boasted that for the very first time Grenadians will see that the commercial sector which traditionally has been seen as a source of exporting foreign products or exchange will reverse that trend and start earning foreign exchange for the sland through sales.

He said the plaza will also demonstrate in a very strong way to Government that its decision to support a tourism project of this nature to carve out new markets and to create innovations will bear fruits beyond their imagination.

The Cash Express Card introduced by De Bourg referred to as “the Electronic Cheque” will be made available to 15,000 successful applicants. He said that Capital Bank has made available $10 million in credit to successful applicants.

The card can be used at all Cap Bank ATM’s across the island, all its on-line banking facilities.
In addition, card holders can use it to shop to their leisure at any mall on the plaza compound.

A total of $500 - $5000 will be made available to individual Cash Express Card holders according to their credit. “Powering Economic Growth and Job Creation in our Tri-island State” is the company’s statement which according to CEO De Bourg is very true.

Marketing Director of the new facility, Toni De Bourg-Smith who is the daughter of the business owner gave an undertaking to do all in her power to ensure that the project grows from strength to strength.
The stores that will be opened tomorrow are: Grandeur House (household items & small appliances); Island Treasures (souvenirs and gifts); South City Drug Mart (pharmaceutical, toiletries and prescription medicine); Electronic Warehouse (digital cameras, DVD players, TV’s, MP3 players, etc); Tony’s Jewelry (fine jewelry and watches); and Terry’s Beauty World (top fragrances, cosmetics, skin care and hair care products).

The others are Accents (brand-name handbags and accessories); Lady Ester’s House of Fashion (ladies high fashion boutique); De Bourg’s Shoe Store (top-of-the-line shoes and accessories); The Connoisseur (fine wines and liquors); and Food City (specialty foods and deli).