This is the presentation I gave in Grenada on the 23rd of April 2013 at the Republic Bank Reigniting Growth conference. It shows how we are adapting the Mount Hartman Project to become a driver for the entire economy and proposes that Grenada goes all out to be a 100% renewable country.

1. 2013
Can we build a secure
economy in an uncertain
and rapidly changing
world?

2. Climate change is the big
driver
 We are currently firmly on course for 4°C
warming by 2060 that's less than 50
years from now
 Fewer than one in seven of the young
people alive today will live to see it as
the planets carrying capacity reduces to
under 1 billion
 Continuing as we are is not an option we
have to restructure our entire energy
economy, cut out carbon pollution and
reduce atmospheric CO2 levels fast

3. CO2 and temperature
We are here
400ppm

4. The alarm is being sounded
 By every major non hydrocarbon
backed international intuition
 By Grenada during its time as chair of
AOSIS calling for a cap at 1.5°C not
2°C of warming (right now we are at
0.8°C)
 Most loudly by the planet itself through
the loss of the Arctic ice cap and
extreme weather all around the world

5. Time to pull our collective heads out
of the sand - looking backwards and
doing business as usual is not an
option

6. What are the impacts on
Grenada
 Increasing carbon taxes on flights
 Rapid increases in food prices
 Ongoing recession in Europe and
America adversely impacting the
traditional markets
 Increasing fear and short term thinking
 loss of confidence
 Escalating energy prices
 Surrounded by sea it won’t get hot as
fast as other places
 Agriculture will become more competitive

7. We are about to enter a time of change
that will be more dramatic than anything
we have been through before
As we adapt and learn to manage Earths
life supporting systems
Grenada can play a major roll in this
process

8. Envisionation

9. We need a plan to build
confidence
 With great change comes great
opportunity
 Confidence comes from having a
secure market
 Confidence develops long term
thinking and that provides a stable
development environment

10. Aim to be the world’s first carbon
negative country
 Carbon neutral through renewable
energy particularly geothermal
 Carbon negative through carbon capture
by pyrolysis and sequestration
 A visit to Grenada should itself be the
most a carbon friendly holiday offering
available
 Developing long stay tourism through
education, medicine and retirement has
a much lower carbon impact than weekly
stays

11. Set our objectives
 Improved education and opportunity
 Full employment
 Food security through home production
 High quality health care for all
 Economic activity more evenly spread to all
main centres of population
 Self sufficient in electrical energy production
 A protected environment, pollution of land
and sea reduced to a minimum
 Create economic resilience through market
diversity and market capture
 Pay off the National debt

12. How
 Let’s build on our success in
education
◦ There is a huge demand for learning that
will only increase as the world adapts
 Capture our market
◦ Economic citizenship with resident
retirees – what we really want to capture
is their retirement spending
 Attract the retirement market
◦ by offering excellent health care

13. Capture the retirement and
second lifestyle market
 More than 2,000 homes on the plan now
 Egmont to Hope
 Retirees spend their pension here
 Attracted by healthcare
 Jobs in construction

14. Stimulate the property market
 Reduce the cost of property transfer so
that properties change hands much more
often
 This promotes the consumer market and
the local building trade, encourage lot
sales on major developments
 Level the market so that foreign
developers do not have an unfair
advantage
 Collect more tax through greater
economic activity

15. Alternative Energy
 Waste to energy and bio fuel plant can
produce 6.8 MW, accounting for
approximately 25% of the country’s mean
power needs
 Hydro Electric Power
 Geothermal Energy – Grenada has the best
potential of any of the Eastern Caribbean
islands
 Grenada to be entirely self sufficient, and
even an exporter of electricity
 Photovoltaic, wind and wave power
 Not buying fuel oil will save nearly 7.5% of
GDP
 Secured electricity prices will give a
confidence boost to the traditional tourism

16. You can’t go carbon neutral and
develop a hydrocarbon industry
 Burning all the worlds coal, gas and
oil reserves is not a option
 Profit warnings are already being
sounded against the big
hydrocarbon reserves
 Lets get value out of Grenada’s
reserves quickly now, while we still
can
 Follow Ecuador's lead and offer to
write them off against National debt
relief
 Gain fiscal and public relations
value
The Guardian Friday 19th April 2013
HSBC warned that 40-60% of the market capitalisation of oil and gas
companies was at risk from the carbon bubble, with the top 200 fossil
fuel companies alone having a current value of $4tn, along with $1.5tn
debt.

17. How Many Gigatons of Carbon
Dioxide...?

18. Assistance in delivering these
plans
 Carbon War Room – Aruba
experience
 Caribsave – strong on supporting
education and marine conservation
 A massive wave of awareness is
building particularly though the worlds
universities
◦ Movements like 360.org
 New support coming available every
day with the establishment of new

19. The market is going green

20. Proposal for a
New University Town &
Medical Tourism Resort
Grenada
February 2013

21. Introduction
• Medical tourism is growing fast as patients and their
medical insurance companies seek out high
quality, high value medical treatments
• There is a world wide shortage of doctors and nurses
driving a demand for places at leading medical
universities by people wishing to enter the
professions
• St. Georges Medical University (SGU) has been
established in Grenada for 30 years and has in
excess of 5,000 (3,000 in Grenada) students, it has a
highly regarded international reputation and is
continuing to expand even in the current deep
recession. SGU is a major contributor to Grenada’s

22. The Project
The development of a new University Town, that
will build on SGU’s internationally recognized
brand
A private medical tourism facility with a new
national teaching hospital attached
Expanding the capability of SGU and adding post
graduate studies which in turn will attract medical
research and other related businesses
Faculty of Environmental Studies responding to
demands in environmental sciences, alternative
energy and adaptation to climate change
The University Town will support many other
development opportunities including first class
hotels, residential accommodation and retirement
homes

23. Education as an economic
driver
 The green energy revelation is creating
enormous demand in all related sectors
 Renewable energy
 Climate monitoring –
◦ links established to the ICES Foundation
 Agriculture – permaculture and biofuels
◦ All of the above linked through an IT corridor
 Bringing the best minds to Grenada will
deliver great opportunity for all
Grenadians
 Opportunity will bring Grenadian
nationals home

24. St. Georges University (SGU) campus 2,500 + students
This is by far the most successful Caribbean University. It has a
world class reputation and is a major part of Grenada’s economy.

25. SGU
Airport
Existing Hospital
Location for the new
university town
Mount Hartman
Grenada
Scale: grid squares are 1,000 m

26. Components
 200 bed national teaching hospital – size subject to detailed study
 140 bed private medical tourism hospital facility - size subject to
detailed study
◦ Shared operating theatres, laboratories and support facilities
◦ University facilities – observation rooms, laboratories and accommodation
◦ Nursing school
 5 star hotel with discreet medical support for recovery and
recuperation
 3 /4 star hotel with medical support
 Faculty of Environmental studies and renewable energy
 Residential university town designed to support the whole project
and be a vibrant heart to the community
◦ Mix of detached and attached housing, apartments, shops restaurants, student
halls of residence
◦ Provide opportunity for Grenadian business to service this market
 International school - children 4 to 18 years (Senior School 11-18
years seen as especially important in attracting high calibre staff to
project)
 Hog Island – 86 acre luxury residential development

27. Components
 School of environmental studies, climate change
adaptation, permaculture and alternative energy – (with SGU
or as an independent University)
 Expansion of existing SGU marine biology school, reef
monitoring and coastal erosion.
◦ Hyperbaric chamber (links to medical facility)
 Medical Research Park – post graduate studies
 Secondary private medicine clinics – dentistry, cosmetic
surgery supported by main hospital intensive care capability
 Alternative and complementary medicine facility and school
◦ Herbal medicines - Osteopathy
◦ Health spas
◦ Sports injury clinic
 Retirement homes – with graduated assisted living to end of
life
 Yacht club and dinghy sailing centre,
 Sports facility - dive, squash, tennis, gym, dance, yoga

28.  Secret Harbour and main site of UHT

29. Note this drawing will be
revised after stakeholder
consolations . The Prickly
Bay water front and
wetland areas are under
redesign to ensure that
mangroves are preserved

30. Where is the profitable
business?
Private Medical
 Medical tourism facilities in equivalent market places
are delivering cost savings in excess of 60% over the
equivalent procedure costs in the USA. This can deliver
considerable savings to US medical insurance
companies
 Even at lower international rates, medical procedures
can be extremely profitable business
 Regional demand for quality health services is strong as
is the demand for retirement homes
 The availability of quality health care will make
retirement villas within the development highly desirable
 Few people travel alone for medical procedures and
recuperation time after treatment is often essential, this
provides guaranteed occupancy for associated hotels

31. Comparable private treatment costs in current
centres of medical tourism
Surgery USA Costa Rica India Mexico Korea Thailand
Heart Bypass 144,000 25,000 $8,500 $20,000 $24,000 $24,000
Angioplasty 57,000 13,000 $8,500 $16,000 $19,600 $7,000
Heart Valve Replacement 170,000 30,000 $1,200 $30,000 $36,000 $22,000
Hip Replacement 50,000 12,500 $8,000 $13,125 $16,450 $14,000
Hip Resurfacing 50,000 12,000 $8,000 $12,800 $20,900 $16,000
Knee Replacement 50,000 11,500 $7,000 $10,650 $17,800 $12,000
Spinal Fusion 100,000 15,000 $12,000 $7,000 $17,350 $11,000
Dental Implant 6000 1,000 $700 $910 $3400 $3,000
Lap Band 30,000 8,500 $7,500 $8,430 $9,500 $12,000
Breast Implants 10,000 3,500 $4,500 $8,000 $11,000 $3,700
Rhioplasty 8,000 5,500 $3,500 $4,165 $4,000 $3,400
Face Lift 15,000 5,900 $7,000 $7,200 $3,000 $6,600
Hysterectomy 15,000 5,500 $5,500 $6,675 $9,000 $5,000
Source: Medical Tourism Association

32. Where is the profitable
business?
Educational
 Higher education courses can be extremely
profitable.
 Adding a teaching hospital to SGU enables an
immediate expansion and allows SGU to take
students who may not be able to gain entry to the
USA or UK to complete their studies.
 There is a huge international demand for doctors
and nurses and consequently for medical tuition
 SGU can teach a range of subjects – there is
already a successful veterinary school and
marine studies department
 Supports big opportunities in the conference
market
 Supports the established hotel market

33. Where is the profitable
business?
University Town
 Student and staff accommodations provide
excellent and predictable rental incomes
 The town with shops and services for rent and
sale will provide vibrant leisure locations which
will be attractive to visitors and support the resort
aspects of the project
 Residential property development for sale will
bring early profits and reduce project debt.
 Wealthy parents will buy properties for their
children to live in and then rent rooms to other
students.
 They will then on sell the property, providing
further brokerage income to property agents and
property transfer taxes to Government

34. Where is the profitable
business?
New national hospital
 The current national hospital is poorly
located, with limited access, and many designed
and construction limitations
 A new purpose built facility will be much more
efficient and will deliver a faster patient
throughput
 A new national teaching hospital as part of the
University Town and a centre of excellence will
be able to sell services to other regional
Caribbean health services
 Infrastructure development costs can be shares
with the private sector project
 Medical facilities can be shared with private
sector

35. Financing and structure
• Mount Hartman Estates Ltd holds the freehold to the 393 acre estate including
Hog Island
• The Government of Grenada entered into a comprehensive agreement for a
five star resort and golf course, allowing planning consent and 25 years of tax
breaks with other fiscal incentives for the development.
• The planning consent needs to be amended to the University Town
concept
• The IFC part of the World Bank was retained to provide consultancy services
for a PPP structure and Balfour Beatty Investments has been selected as the
preferred bidder
• Hospital management company to be selected, several expressions of interest
have been received
• IFC/World Bank finance is potentially available subject to satisfactory due
diligence and acceptance of the business plan, initial discussions have been
positive
• 70% debt financing for hotel components and infrastructure has been offered
by China Eximbank $115 million
• It is likely that China Eximbank would be prepared to finance the over all
project infrastructure

36. Capital costs estimate US $446,000,000
Component Site area built area Cost m2 Cost US $
200 bed national Hospital 10,000 4,600
140 bed medical tourism facility 14,000 6,000
Shared operating theatres, laboratories and support facilities
2,000 2,000
University facilities – observation rooms, laboratories including fit out 50,000 10,000 $94,645,850
Medical Research Park – post graduate studies 30,000 10,000 2200 $22,000,000
Secondary private medicine clinics – dentistry – cosmetic surgery 20,000 5,000 3000 $15,000,000
Nursing school 10,000 2,000 2200 $4,400,000
Alternative and complementary medicine facility and school 20,000 500 3000 $1,500,000
Herbal medicines - Osteopathy 2,000 500 2500 $1,250,000
Health spas 5,000 1,000 2400 $2,400,000
Sports injury clinic 10,000 8,000 3000 $24,000,000
5 star hotel with discreet medical support for recovery and rejuvenation 30,000 12,000 3600 $43,200,000
3 star hotel with medical support 20,000 10,000 3200 $32,000,000
Retirement homes – with graduated assisted living to end of life 30,000 14,000 2200 $30,800,000
Marine biology and diving school reef monitoring and coastal erosion 10,000 800 2200 $1,760,000
Hypobaric chamber (links to medical facility) 500 150 4000 $600,000
School of environmental studies, climate change adaptation, permaculture and alternative energy – (with
SGU or independent University)? 30,000 8,000 2200 $17,600,000
Expansion of SGU vet school 70,000 1,000 2200 $2,200,000
Residential university town designed as to support the whole project and be a vibrant heart to the
community. 40,000 15,000 2400 $36,000,000
Mix of detached and attached housing, apartments shops restaurants, student halls of residence 100,000 10,000 2200 $22,000,000
Yacht club and dinghy sailing centre, dive, squash, tennis, gym, dance, yoga……. 25,000 500 2200 $1,100,000
International School - children 4 to 18 years (especially the Senior School 11-18yrs) 10,000 1,000 2200 $2,200,000
Hog Island – 86 acre luxury residential development 360,000 25,000 2400 $60,000,000
Beach enhancement $2,000,000
Sports fields tennis driving range pitch and put 200,000 $2,000,000
Roads 160,000 75 $12,000,000
Car parking 80,000 30 $2,400,000
Electrical/Communications/Cable TV System $2,200,000
Water Supply/Storage/Distribution System $4,500,000
Sewage Collection/Treatment/Recycle System $4,000,000
Landscaped park area 180,000 $2,500,000
Totals 1,518,500 147,050 $446,255,850

37. Google earth shot – note how the site abuts Lance aux Epines
and Secret Harbour on the left which is the premier residential
area in Grenada

38.  Hog Island site for luxury villas and hotel
 NB: the bridge to Hog Island is completed.

39.  Rogers Bar on Hog
Island

40.  Mount Hartman Quarry – this is the
proposed site for the new Hospital

41.  Dove sanctuary land in foreground with Hog island in the
background, the island beyond that is Calivgny which is owned by
the French billionaire George Cowen which he has developed as a
private ultra luxury resort

42. For further information and
enquires
 Please contact:
◦ Bru Pearce
◦ Envisionation Ltd
◦ E-mail:
bru@envisionation.co.uk
◦ Skype Name brupearce
◦ Work +44 20 8144 0431
◦ Mobile +44 7740 854713