Bridgetown.
One of Barbados' leading real estate developers Andrew Mallalieu, is warning the Government not to bail out the Four Season project with public funds.
Mallalieu, the chief executive officer of Tara Carribean says if the National Insurance Scheme's $60 million investment in Four Season turn out to be a bailout , it would be a mistake by the Government and could affect the real estate sector on the island.
He described the stalled project as an excellent investment, in need of a suitable enabling environment that would allow developers to source the requisite investors.
"At some point, that ideal of providing an environment has turned into the ideal that we must bail this project out. I am not a suported of bail out Four Seasons because there are many projects in Barbados which are well financed and are extremely important to Barbados", Mallalieu said.
"How do you choose one over the another? Should we bail out Port Ferdinand? No, it is an extremely important project. It is employing just as many people or more but it is well financed", he added.
"If the funding is going to be flipped into we are bailing out the project because it otherwise could could not be funded by anyone else, I think that is a mistake. On the other hand I don't think it will be a mistake, if we provide the environment that the businessmen behind the project can burrow the money", Mallalieu stressed. 
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