Project Polaris is the Government of Grenada's flagship programme to develop Hope Vale Medical City, an 84-acre integrated health, education and wellness campus in the parish of Saint David. The medical city is anchored by a new 250-bed Smart Academic Hospital, which will replace the existing General Hospital and bring specialist and tertiary healthcare services onshore. Surrounding the hospital, the masterplan includes a premium care and VIP services facility, a wellness hotel supporting medical tourism, student and retirement housing, and dedicated solar, water and wastewater infrastructure. The project is being developed in partnership with Mount Sinai Health System and St. George's University. It responds to Grenada's reliance on costly overseas referrals and an ageing, climate-exposed hospital estate, while positioning the country as a regional centre for healthcare, medical education and research in the Eastern Caribbean.
Project overview
Investment opportunity
US$50 million of concessional debt is sought to complete construction financing for the 250-bed Smart Academic Hospital, the anchor asset of Hope Vale Medical City. Core hospital financing of approximately US$200 million is substantially in place, with design-build contractor procurement and early site works under way and completion targeted for 2029. The hospital will replace Grenada's existing General Hospital and bring specialist and tertiary healthcare services onshore, in partnership with Mount Sinai Health System and St. George's University. The opportunity is well suited to development finance institutions and concessional lenders seeking to support a government-sponsored health infrastructure asset.
Investment types sought
Project status
Development stage
Structuring & preparation
Current status / progress to date
Completed: Feasibility study, business plan, economic analysis, space programme and 50% schematic design; core hospital financing substantially secured. Ongoing: Design-build contractor procurement, utility relocation and early site works (from October 2026). Pending: Structuring of medical city PPP components. Hospital completion is targeted for 2029.
Additional project information
- Lead agency
- Polaris Development Company Limited (PDCL), Government of Grenada
Expected impact
Jobs created / supported
The project will generate substantial construction-phase employment across civil works, building trades and local supply chains, followed by permanent roles in clinical care, nursing, allied health, academic medicine, research, hospitality, facilities management and utilities. Clinical training pathways will also support the development of Grenada's health workforce.
Economic & development benefits
- Brings Specialist And Tertiary Healthcare Services Onshore, Reducing Costly Overseas Medical Referrals
- Positions Grenada As A Regional Hub For Healthcare, Medical Education And Research Serving The OECS
- Builds A Medical Tourism And Wellness Economy Through Hotel And Premium Care Services
- Mobilises Private Capital Through PPPs, Easing Pressure On Public Finances
- Creates Employment Across Healthcare, Hospitality, Construction, Utilities And Support Services
Climate & resilience benefits
- Designed To PAHO Safe Hospital Category A Standards
- Relocates Critical Healthcare Infrastructure To A Climate-Resilient Site
- Includes Campus-Wide Solar Generation And Islandable Microgrid Infrastructure
- Provides On-Site Water Production And Wastewater Treatment For The Medical City
- Maintains Continuity Of Essential Health Services During Extreme Weather Events
Contact
Contact team
For more information about this project, please contact the Commonwealth Investment Platform team.