Luxury Property

Company behind Dermot Desmond-backed Caribbean resort sells $120m in lots on island

Tycoon has been developing various facilities on Canouan in recent years, including a hotel, luxury residences, and most recently a refurbishing of the island’s golf course

Canouan’s yacht marina complex, developed by Irish-born tycoon Dermot Desmond. Picture: Canouan Mandarin Oriental

An Irish company behind an exclusive Caribbean resort backed by Dermot Desmond has sold nearly $120 million worth of lots on the island, new accounts show.

Canouan Development Corporation Ltd had a total of $118.7 million worth of “prepayments under lots reservation agreements”, the accounts show, up from $82.6 million the year before.

The company valued its assets at $328,606,693, which was made up of its investments in a host of subsidiary companies, in the ...