March was a busy month for domestic news in The Bahamas, with some key developments getting the green light.
The government signed a Heads of Agreement with Disney Island Development Ltd for a proposed cruise port and entertainment facility at Lighthouse Point, Bannerman Town, South Eleuthera.
The signing took place at the Cabinet Office in Nassau March 7, 2019.
Following the signing, Prime Minister Dr Hubert Minnis said: “This project is line with the government’s plan to expand the economy of our country and economic opportunities for our people by promoting development in the Family Islands.”
Disney intends to build a pier, marina, retail shops and restaurants, as well as walkways through nearby forests and around salt ponds, when developing property, which it recently acquired from a private seller.
Disney has agreed to donate around 190 acres of the land – including the southernmost point of the property – to the government of The Bahamas for conservation purposes.
It was also announced last month that the Nassau Port is set for a major revamp. Global Port Holdings released plans for a multimillion dollar overhaul of the country’s premier cruise ship port, including an outside arena for events, marina, restaurants and retail outlets.
There was also a major development over in Freeport, with Lucayan Renewal Holdings Ltd signing a Letter of Intent with Royal Caribbean Cruises Ltd and the ITM Group to begin exclusive negotiations for the purchase of the Grand Lucayan Resort at a price of $65 million, and the redevelopment of the Freeport Harbour.
The proposed joint-venture project will include the redevelopment of the Grand Lucayan Resort into a world-class destination, featuring water-based family entertainment, with dining, gaming and entertainment options, and five-star hotel accommodations.
“It is my sincere hope that Bahamians, and in particular, Grand Bahamians, will take advantage of the opportunities being created not only for employment, but for self-employment,” said Minister of Tourism Dionisio D’Aguilar.
Michael Bayley, President and CEO Royal Caribbean International, said the redevelopment of the Grand Lucayan Resort has tremendous potential to significantly increase tourism to Grand Bahama.
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