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Family Island resorts to bolster economy

Major resort projects in the Family Islands are set to bolster the local economy, according to Minister of State for Investments Khaalis Rolle. The Minister (pictured) made the comments following a tour of the Baker’s Bay development site on Great Guana Cay, and the Treasure Sands Club project on Abaco. 

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TheBahamasInvestor.com
Wednesday, August 15, 2012
Wednesday, August 15, 2012

The economy is poised to rebound due to the further development of resorts, particularly on the Family Islands, Minister of State for Investments Khaalis Rolle has said.

plans of the project

An executive of Baker’s Bay Development on Great Guana Cay shows plans of the project to government officials during a tour August 10, 2012. At centre are David Davis, permanent secretary, Office of the Prime Minister (left) and Khaalis Rolle, Minister of State for Investments. (BIS Photo/LaTore Mackey)

He made the observations following a tour of the Baker’s Bay Golf & Ocean Club development on Great Guana Cay, and the Treasure Sands Club project on Abaco August 10, 2012.


“The only way we are going to get this economy back on track is by looking at the projects that currently exist and seeing whether there are expandable opportunities within those projects,” Rolle said.

Baker’s Bay Golf & Ocean Club is a billion dollar project being developed by Discovery Land Co–a Scottsdale-based real estate development firm that specializes in constructing golf and residential communities. It has a high-end clientele base including celebrities and financiers.

Treasure Sands Club resort is a $10-million Mediterranean-style resort, with a proposed boutique hotel on Abaco.

Rolle was accompanied by David Davis, permanent secretary, Office of the Prime Minister. The tour was led by Livingston Marshall, senior vice president of the Environment & Community Affairs for Discovery Land.

“There are quite a number of these types of facilities throughout The Bahamas and you look at where we are now, this is just an indication that The Bahamas is poised to rebound,” Rolle said. “We see those type of developments as key to the country rebounding.”

According to Rolle, The Bahamas is “well ahead” of the curve in terms of what it has to offer, particularly for direct foreign investment.

“The Hotels Encouragement Act provides incentives for individuals wishing to build a resort; to ensure that the process is smooth, seamless and quick,” Rolle added.

Bahamas Telecommunications Co opened its ninth new store last week. The outlet is in Governor's Habour on Eleuthera. Watch a ZNS news report on the opening here.

Minister of Financial Services Ryan Pinder says he fully supports the $16.5-million Inter-American Development Bank loan, which will be used to improve the international trading environment and facilitate ascension to the WTO.

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