Building a brand-new “world class” hospital to replace the Princess Margaret (PMH) facility demands a $750 million to $1 billion investment, a sum requiring that it be done via a “four-pronged” development strategy.
Fred Perpall, the incoming Bahamian chief executive of US-based real estate developer, The Beck Group, told Tribune Business that the PMH Critical Care Block facility was the first stage in plans to completely overhaul Nassau’s public hospital.
Beck is the lead designer for the project, and Mr Perpall said that when completed the Critical Care Block would give the Bahamas a facility “second to none” in the Caribbean.
Explaining that redeveloping PMH in one go would require a sum equivalent to four times’ the Government’s entire annual capital expenditure budget of $250 million, Mr Perpall said it had no choice but to overhaul the hospital in stages.
