NASSAU, Bahamas — The government on Monday, December 6, signed an amended heads of agreement (HOA) with Cotton Bay Holdings for the development of a $200 million resort in South Eleuthera, The Nassau Guardian reported on Tuesday, December 7.
The project will create 500 jobs — 300 during construction and 200 during operation — on the island, according to Cotton Bay Holdings Manager Daniel Zuleta.
He said the resort, which will be a part of the Ritz-Carlton brand, will have 90 rooms and 60 villas.
Zuleta said it is expected to open in 48 months.
“We hope this will make a huge impact on the island, especially in the south,” he said. “It will create opportunities for young people especially to grow and develop on the island without the need to leave their hometowns. That’s the major thing. We’ve been working with the community for several years and we will try to continue that way.”
The original HOA was signed in 2015. However, according to Lynn Holowesko, the attorney for Cotton Bay Holdings, the hotel partner that was a part of that 2015 signing decided to go “in another direction.”
“They used the time to buy additional property and find an even better hotel partner,” she said. See complete article in The Nassau Guardian at https://thenassauguardian.com/new-hoa-signed-for-200-million-resort/
