facebook
twitter
rss
account
search
search
 

Puerto Rico poised as 'Singapore of the Caribbean'

Investment company director John Paulson predicted Puerto Rico would become the "Singapore of the Caribbean."
By Ed Adamczyk   |   April 25, 2014 at 4:09 PM   |   Comments

http://cdnph.upi.com/sv/em/i/UPI-4181398455043/2014/1/13984560309497/Puerto-Rico-poised-as-Singapore-of-the-Caribbean.jpg
SAN JUAN , Puerto Rico, April 25 (UPI) -- Prominent investment firm director John Paulson said the island of Puerto Rico, a U.S. territory, is about to become the “Singapore of the Caribbean.”

He made the comment at the Puerto Rico Investment Summit in San Juan.

Paulson’s firm, Paulson & Co., has invested heavily in Puerto Rico, and the island’s government said it expects the firm to invest up to $1 billion by the end of the next year.

His firm recently bought new government bonds and a majority interest pair of two oceanfront resorts, Condado Vanderbilt and La Concha Hotels.

Paulson said he is buying real estate on the island while the opportunity continues, to build luxury developments, and expects Puerto Rico, currently regarded as economically depressed, to thrive and to take its place among the important financial centers of the world.

“We are interested in future development opportunities,” he said.

A spokesman for Paulson declined comment.

Follow @adamczyk_ed and @UPI on Twitter.
Contact the Author
Topics: John Paulson
© 2014 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Poland buys medium-range missiles from U.S. Poland buys medium-range missiles from U.S.
2
Great white shark circling surfers photographed by drone Great white shark circling surfers photographed by drone
3
Watch: News anchor resigns live on-air to sell pot, '[Expletive] it, I quit' Watch: News anchor resigns live on-air to sell pot, '[Expletive] it, I quit'
4
Arrest warrant issued for 'person of interest' in missing UVA student case Arrest warrant issued for 'person of interest' in missing UVA student case
5
Cop-killer suspect Eric Frein possibly spotted, in standoff Cop-killer suspect Eric Frein possibly spotted, in standoff
Trending News
Video
x
Feedback