This has cost SSB, which uses contributors’ money to make such purchases, a total of $16,605,958.00 for 16 separate land purchases, including in Joes Hill, Mc Namara Estate, Long Trench, Georges North Side, Spooner’s Estate, Apple Bay, Towers, Josiah’s Bay and South Sound in Virgin Gorda.

This was revealed during the Eighth Sitting of the Fourth Session of the Fourth House of Assembly (HoA) at Save the Seed Energy Centre in Duff’s Bottom on November 15, 2022.

Opposition Member Hon Carvin Malone (AL) had asked the Minister for Health and Social Development, Hon Marlon A. Penn (R8) to “provide a complete listing of properties purchased by the BVI Social Security Board during the period 2011 through 2022 for the purpose of development/investment of affordable homes, inclusive of owners, dates purchased, valuation amounts and purchase prices?

Hon Penn provided a full listing of the properties purchased by SSB over the period 2011 through 2022 for the purpose of housing development and circulated the list to Members. The list included the names of former property owners, the dates on which the properties were purchased, valuation amounts, and purchase prices.

16 separate land purchases made from 2016 to 2018

According to the list provided, SSB started off with two purchases in June 2016 but by November 2018, a year after the devastating hurricanes, it had made a total of 16 purchases.

Some of the purchases were also bought for way more than the appraised amount. The total appraised amount; however, was $16,593,755 while the total spent was $16,605,958.

The largest purchase, 34.06 acres in Georges North side from seller BVI Red Cross, cost SSB $3,010,000. The purchase was made on November 29, 2018.

The second largest purchase was 21 acres in Apple Bay. This cost SSB $2,750,000. The seller was Luxury Finishes & Interiors, Ltd and the date purchased was November 23, 2016.