The land was initially bought in 2010 with a price tag of US $ 125 million and the approval for the construction was received in the same year. With the increase of rooms and a newer plan already paving the way for the new building, the deadline has also gone up, with hopes for the project to see completion in 2017, though the preliminary plan was to finish the project in 2015.
The proposal for the new project has already been approved and the tax concessions will remain the same. With the project seeing fruition, the Electricity Board (CEB) will also have to shift one of their high-tension cables which is getting in the way of the construction and therefore, there are discussions underway between the relevant authorities with regard to this.
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