NASSAU, Bahamas — Hurricane Hole’s developer is aiming to launch two further resort projects before year-end 2019 that will take total investment in its Bahamian developments to around $700m, The Tribune reported January 28.
David Kosoy, Sterling Global Financial’s chairman, told Tribune Business it was targeting the “creation of over 1,000 jobs” between its Paradise Island development and similar upscale projects planned for Abaco’s Matt Lowe’s Cay and the Sky Beach Club in Eleuthera.
Confirming the Bahamas-headquartered developer’s ambitious plans, Mr Kosoy said Sterling’s Family Island projects would likely double the 500 permanent jobs created when Hurricane Hole is fully redeveloped by 2024.
“We hope to move those forward by the second quarter, and hope to be in the ground on Sky Beach in the third quarter,” he told this newspaper. “Matt Lowe’s, maybe the fourth quarter.
“I think that with what we have going on now with this [Hurricane Hole], and the others, we will be somewhere around $700m, and jobs created will be over 1,000. I think our first phase on Sky Beach will be around 40 rooms and 20 villas.”
Mr Kosoy said both Matt Lowe’s Cay and Sky Beach Club will feature high-end, boutique “four to five-star resorts” when completed. While he did not specify the five-star resort’s location, he added that the other would be “four-and-a-half-star with five-star service”. http://www.tribune242.com/news/2019/jan/28/pi-developer-eyes-700m-projects/
