International operators head for St Maarten

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A surge in cruise passengers visiting the Caribbean island has attracted major duty-free retailers

Global real estate firm REMAX reveals that international travel retailers are lining up to take advantage of lucrative new commercial properties on the island of St Martin/St Maarten, where tourist numbers have surged since the opening of a new cruise terminal.

Several global duty-free retailers with interests in the Caribbean are hoping to occupy outlets on both the Dutch and French sides of St Maarten/St Martin, TRW can reveal. The island has recorded rapid growth since the opening of a new harbour last year, with US visitors in particular attracted to the tax-free island.

Real estate firm REMAX's commercial director Augusto Marini said that cruise tourist numbers are anticipated to surpass 1.4m this year, and that traffic was showing no sign of slowing in the winter season. Suppliers are also waiting for spaces with the island's many retailers, which all benefit from its status as a customs-free zone, said Marini.

"We are experiencing a new phenomenon that we weren't prepared for," he told TRW. "Since new requests far exceed availability, most of the large duty-free groups are eagerly awaiting any purchase opportunity for space on the island."

Marini revealed that he is encouraging local investors to start developing shopping centres to accommodate the demand, and that he expected several international operators to be present within the year as a result of four new large developments.

"The only reason they are not already here is that we didn't have the space for them," he said. "Once these developments are available I think duty-free on the island, which is already big business, will really take off."

See DFNI September 1, out next month, for more on retail developments on St Maarten/St Martin.