NASSAU, Bahamas, Thursday, January 12, 2023 — Prime Minister the Hon. Philip “Brave” Davis today was joined by Deputy Prime Minister Chester Cooper and Philip A. Simon, Managing Partner of Torch Cay Development Ltd., for the signing of a Heads of Agreement (HOA) between the government and Torch Cay Development Ltd.
Torch Cay, a groundbreaking new residential community and marina that will be located at the southernmost tip of the Exuma chain, is expected to bring a $175 million capital investment to the country. It will produce approximately 350 annual jobs throughout the two-phase construction period and further 250 jobs in the operational phase. Its amenities will include an 18-hole championship golf course, an environmental research facility, sustainable farm, marina and accompanying village, and a Beach Club and spa.
“This distinct forward-thinking community will serve as a valuable economic stimulus for the residents of Exuma and indeed the entire nation,” Prime Minister Davis said during the signing. “Valuable jobs will be created, more visitors will flock to our shores, local business will be bolstered, tax revenue will be generated, and increased competition will raise our tourism product to even loftier heights.”
