Multi-Billion Grand Bahama Project In Discussion

Tuesday 26th, February 2013 / 09:27 Written by

With the paperwork as proof for the funding of a multi-billion dollar project in East Grand Bahama complete, investors of the proposed development are expected to return to the table for another round of talks with government.

“By the end of this month, if not sooner, we expect to present our financial credentials to the government,” former Cabinet Minister Kenneth Russell told The Freeport News last week.

Two months ago, Russell, who has played an integral role in pitching the mega development to government over the last three years, along with partners of the Kylin International Group met with Prime Minister Perry Christie with a view of engaging talks to move the project ahead.

It was then that the prime minister requested proof that the proposal to develop eight hotels, a casino and a cruise ship terminal in East Grand Bahama would be properly financed.

Since the December meeting, executives of the investment group and members of the task force, which government formed to work with them have travelled to New York and met with major hotel chain — the Plaza Hotel and luxury hospitality company Cipriani.

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1 Comments on “Multi-Billion Grand Bahama Project In Discussion

  • Captain Richard Hagen

    I’ve been going to Grand Bahama for over 20 years now and seen the many changes which have occurred on the Island. It has gone from good to bad. If you have a chance to develop land and bring in tourist clients, the Island need this development.
    Unless the right advertising is done, no one will know what to expect and the types of resorts available. It’s fine to have a group make plans and give you the full story but still boils down to how to we get the people here. Grand Bahama is an Island of fun and much attraction to a certain clientele. Look around you are bordered by water on all four sides. Port Lucaya was a wonderful place for boaters, but now a ghost town, question why? There is no attraction for boaters, I would be glad to voice my opinion and provide help with getting this back to the old days.

    Reply

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