NASSAU, Bahamas — The Davis administration hopes to sell the Grand Lucayan resort on Grand Bahama for $150 million once it secures a buyer, Minister of Tourism, Investments and Aviation Chester Cooper said yesterday, adding that it will take six weeks to shortlist qualified buyers, The Nassau Guardian reported on Thursday, January 13.
“We’re in for $150 million and that’s the number. We believe that this is an attractive proposition,” Cooper said when asked how much the government wants for the property. “Twenty-five hundred acres of prime beachfront property, a golf course, a marina site — this is a magnificent sight.”
Cooper added, “It has the opportunity really to drive the economy of Grand Bahama and can be a substantial plank in the offerings of one of the major brands. So, we’re looking for the best deal for the people of Grand Bahama and the taxpayers.”
Cooper said the redevelopment of the resort has the potential to cause a lot of spin-off opportunities for smaller resorts and other businesses, including the Port Lucaya Marketplace.
Noting that the sale of the resort is critical, Cooper said, “We understand the significance of this to Grand Bahama and, therefore, we are moving deliberately but swiftly to get it done.” See complete Nassau Guardian article at https://thenassauguardian.com/govt-wants-150-mil-for-grand-lucayan/
