Foreign capital is reshaping the Caribbean, and Saudi investment influence is playing a major role. Deals range from century-long land leases to generous tax breaks. These investments are altering local sovereignty, economic access, and accountability.
For instance, AAA Kaf Investment Co., a Saudi-linked conglomerate, now holds a 99-year lease on 64 hectares of Levera Beach in Grenada. This coastline, once freely used by local fishermen, is now private. Consequently, communities confront restricted access and rising costs while investors gain long-term control.
Over decades, Caribbean nations have marketed their islands for tourism. However, citizenship-by-investment programs now generate billions. Saudi nationals were among the fastest-growing groups acquiring new Caribbean passports last year. These programs collectively generated $579 million, about 6.4 percent of regional GDP.
Several landmark deals illustrate the growing Saudi investment influence. In Grenada, a $2.1 billion resort project received a century-long lease at $1 per hectare for ten years. In St. Kitts & Nevis, Dar Al-Arkan secured a 15-year corporate tax holiday for a $550 million marina. Barbados approved 25 years of exemptions for a $300 million petrochemical terminal. In Suriname, Saudi Ports Authority and Saudi Aramco signed deals worth nearly $800 million for energy and port projects.
Saudi Arabia’s Vision 2030 strategy drives these investments, aiming to diversify the economy and expand global influence. In addition to capital, the Kingdom gains strategic leverage in the Caribbean. Analysts note that Saudi deals often move faster and with more tax concessions than other foreign investments.
However, transparency remains limited. Many agreements have not been fully disclosed, and critical documents in Grenada remain under review. As a result, public trust weakens and political accountability suffers.
Environmental concerns also grow. Coastal developments frequently require clearing mangroves, which act as natural buffers against storms. Ecologists warn this increases climate vulnerability in hurricane-prone regions. Local communities face restricted beach access, rising property costs, and reduced influence over long-term development.
Winners in this shift include foreign developers, investors, and political elites. Meanwhile, local residents and entrepreneurs face displacement and limited competition. In response, citizens increasingly demand a say in decisions affecting their land and livelihoods.
Ultimately, Caribbean leaders argue they cannot reject foreign capital. Still, critics warn that sustainable growth requires balancing investment with sovereignty, transparency, and environmental protection. The rise of Saudi investment influence highlights the tension between economic opportunity and long-term community resilience.
