Leisure Canada Inc., which has three largescale luxury real estate projects under development, praised the Cuban government's recent decision to allow foreign investors to use state-owned land for up to 99 years in a change that will accelerate development of hotels and golf courses on the island.

The law, published Aug. 26, is aimed at “facilitating the process of participation of foreign investment in international tourism by giving “greater security and guarantee to the foreign investor in the real estate business.”

Robin Conners, president and CEO of Leisure Canada, sees this as a historic landmark that will spur development of Cuba’s tourism infrastructure, helping to drive more visits and more foreign dollars into the economy. “It will serve to make Cuba much more competitive relative to Latin American tourism and help to attract thousands of new consumers to the island,” said Conners.