Published: Date: Updated: |
The Bahamas Investor Magazine July 1, 2006 July 1, 2006 |
The Ginn Company
$4.9 billion projected over 20 years
Florida-based Ginn Co, led by Bobby Ginn, a privately held real-estate management firm with nearly 30,000 acres under development in the US, The Bahamas and St Thomas
A mega-resort of 4,400 condo/hotel units next to Old Bahama Bay, 870 homes, an airport, casino, pools and water park. Also on the boards are two golf courses, two marinas, beach clubs and spas
West End, Grand Bahama, about 30 miles from Freeport/Lucaya
Approved by government in Dec 2005, with $100-million infrastructure investment slated by Ginn for 2006
Mayaguana Island
$1.8 billion over 15 years, with $14 million slated in the next two years
Mayaguana Island Developers Ltd, a joint venture between Boston-based I-Group and the government-run Hotel Corp of The Bahamas
Plans to create a free-trade zone similar to Freeport. First phase includes rebuilding of airport, new utilities, roads, 25-unit upscale boutique resort at North Beach and 100 residential lots
Easternmost island in the archipelago, and the least developed, with a population of about 300
Government is giving nearly 10,000 acres of Crown Land to the new company for the development
Baha Mar Resorts
$2 billion for the first phase, with a projected opening date of 2010
Major investor is the Izmirlian family, in a joint venture between Starwood Hotels & Resorts Worldwide, Ltd, and Harrah’s Entertainment, Inc
A 1,000-acre project offering 3,550 rooms and an entertainment resort that will rival Atlantis in scale
Cable Beach, west of downtown Nassau on New Providence
First up: $60+-million reno of the 691-room Radisson, to be rebranded as a Sheraton, and a $25+-million reno of the Wyndham
The Albany Project
$1.4 billion
Backed by golfers Ernie Els and Tiger Woods, plus the Tavistock Group owned by Lyford Cay billionaire Joe Lewis
300 single-family homes, cottages and apartments based around a marina, with prices ranging from $2 million to $20 million
Southwest side of New Providence, around the secluded Albany House estate
No development started yet, but Albany House raised its cachet as the first location in the filming of the remake of Casino Royale
Atlantis Phase III
$1.75 billion including Ocean Club Residences & Marina
Kerzner International and separate joint ventures between Turnberry & Assoc and Panda Ltd, a Kutz family company
Development of a 600-room all-suite hotel, expanded water attractions, 100,000 sq ft of added convention space and Ocean Club villas
Paradise Island, across the harbour bridge from Nassau
Completion of key Phase III elements, as well as Ocean Club Residences, slated for 2007