Nearly 22,000 square feet of Monos Island waterfront land, $2,200 monthly rent and a 30-year lease signed just 25 days before the 2025 general election.<\/p>\n
LINK UP. SIGNED. SEALED. DELIVERED.<\/p>\n
A company co-owned by former Trinidad Petroleum Holdings Limited (TPHL) chairman Michael Quamina, SC, secured a 30-year lease for prime waterfront land at Turtle Bay, Monos Island, just weeks before the PNM lost the April 28, 2025 general election.<\/p>\n
According to an investigation by the Trinidad Guardian, by Sharlene Rampersad, the Chaguaramas Development Authority (CDA) leased 21,942 square feet of coastal property for $2,200 monthly, with an additional annual service charge of 10% of the yearly rent.<\/p>\n
The agreement includes an option to renew for another 30 years, potentially extending the arrangement to six decades.<\/p>\n
THE TIMING: JUST BEFORE THE ELECTION<\/p>\n
The company, DDI Property Limited, was incorporated on February 21, 2025, with Quamina and businessman Arnim Kirt Ramsey listed as directors, shareholders and beneficial owners.<\/p>\n
The CDA affixed its seal on March 28, while the company sealed the agreement on April 3, 2025 \u2014 just 25 days before the election.<\/p>\n
Quamina was still chairman of state-owned TPHL at the time. He resigned on May 1, 2025.<\/p>\n
The transaction surfaced in Parliament on October 24, 2026, when Minister Saddam Hosein raised questions about the pre-election lease.<\/p>\n
THE PRICE: WATERFRONT FOR $2,200<\/p>\n
For perspective, Guardian Media identified an advertised 19,442-square-foot beachfront parcel on Monos Island priced at $2.5 million.<\/p>\n
However, an advertised sale price is not directly comparable with a long-term lease, particularly where development restrictions and infrastructure limitations apply.<\/p>\n
Still, the public-interest question remains: Was $2,200 monthly fair market rent for nearly 22,000 square feet of waterfront property?<\/p>\n
QUAMINA RESPONDS: NO CONFLICT, NO WRONGDOING<\/p>\n
Quamina rejected suggestions that the agreement was rushed through before the election.<\/p>\n
He said the application began in June 2023, with an independent valuation conducted in 2024, long before the election date was announced.<\/p>\n
He also disputed claims that the transaction involved four lots, insisting the lease covers one surveyed parcel.<\/p>\n
On the potential conflict of interest, Quamina was emphatic:<\/p>\n
\u201cAbsolutely not, I am not CDA\u2019s chairman.\u201d<\/p>\n
He argued that TPHL and CDA were separate organisations and denied any breach of the Integrity in Public Life Act.<\/p>\n
Quamina confirmed that no clearing or construction had begun, describing the property as still covered in bush.<\/p>\n
THE BIGGER QUESTION<\/p>\n
The issue is not simply whether Quamina obtained a legally executed lease. It is whether the public received fair value, whether the approval process was transparent and whether the same opportunity was available to other applicants.<\/p>\n
The CDA and Minister Hosein had not responded to the Guardian\u2019s follow-up questions at publication time.<\/p>\n
Signed before the election. Sealed for 30 years. The real question is whether taxpayers got a fair deal.<\/p>\n","protected":false},"excerpt":{"rendered":"
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