Crown land lease prices rise due to COI reforms, says Fraser
The cost of leasing Crown lands in the British Virgin Islands has significantly increased following the implementation of the Commission of Inquiry (COI) recommendations, according to Deputy Premier Julian Fraser.
2025-02-05 16:56:24 - VI News Staff
Speaking at the Governance Reform Education & Awareness Transformation of the Virgin Islands (GREAT VI) town hall meeting on Tuesday, February 5, Fraser attributed the price hikes to the Crown Lands Management Act 2024, which came into effect in August last year. “We brought about the Crown Lands Management Act, and as a result, Crown lands have increased exponentially,” Fraser stated. “People who were paying $500 for the lot they are occupying have seen prices rise to $10,000.”
Fraser, who is also the Minister of Environment, Natural Resources, and Climate Change, expressed concern over the drastic increases, stating that since joining the Virgin Islands Party government, his conscience has not allowed him to accept the situation without intervention. He also acknowledged that the process for leasing land has become longer and more complex but assured residents that a formal application system will soon be introduced. Meanwhile, Governance Reform Delivery Manager Kedrick Malone said a governance reform transition plan is set to be taken to Cabinet. This plan includes a monitoring and evaluation program to assess the impact of newly implemented legislation.