Guidelines for a housing plan in Hamilton were announced in the House of Assembly today.

Jason Hayward, the Minister of Economy and Labour, outlined the approved guidelines for the Hamilton Residential Scheme, which was designed to bring economic growth to the area.

He explained: “By increasing the number of residents in Hamilton, we anticipate a significant boost in investment in complementary services such as shopping, dining and entertainment.

“This, in turn, will enhance the prospects of investors to see positive returns in their city investments.”

The scheme will allow non-Bermudians and exempted companies or partnerships, as well as overseas partnerships, to develop residential units in Hamilton.

Approval will remain indefinitely, if granted.

Mr Hayward reminded the House that the residential scheme not only aligned with the 2023–2027 Economic Development Strategy, but reinforced Hamilton’s reputation as Bermuda’s cultural and economic hub.

He added: “By fostering a thriving residential community in Hamilton, we are laying the groundwork for sustained economic growth and a vibrant, dynamic city that benefits all Bermudians.”