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August 8, 2008

Residences At Cabes Point Promote U.S. Virgin Islands’ Tax Benefits

By Pardhasaradhi Gonuguntla

ST. THOMAS, U.S.V.I. — The Residences at Cabes Point is promoting a program designed to encourage investment in the Territory via the Virgin Islands Economic Development Commission’s authority to grant tax exemptions to any business that will advance the economic well-being of the Virgin Islands and its people.

According to the developer, the door is open for everyone from financiers to farmers to apply for these tax benefits, which are typically granted once the company can prove it can meet fairly basic criteria such as committing to hire ten employees locally and invest at least $100,000 in the Virgin Islands economy.

The Residences at Cabes Point are presently in the reservations phase. Preconstruction prices range from $3.2 to $6 million for these luxury single family villas. They average 5700 SF, each with four bedrooms with ensuite baths, private plunge pool, garage and are either directly on the beach or terraced above with beach access. The community is gated, has a tennis court and beach club and a full time resident property manager.

Contact: www.cabespoint.com or contact Jeyan Stout, Coldwell Banker/Preview Properties at 888.801.8784.

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