ABRAHAM’S BAY, Mayaguana – Highlighting a weekend of national progress, Prime Minister Philip “Brave” Davis reaffirmed his administration’s unwavering commitment to the redevelopment of the Grand Lucayan Resort, urging a focus on the long-term prosperity of Grand Bahama.
Speaking from Mayaguana, the Prime Minister moved to silence recent speculation, confirming that the $120 million deal with U.S. developer Concord Wilshire is not only active but progressing steadily toward a transformative outcome for the nation.
Addressing reporters, Prime Minister Davis emphasized that major international investments are complex marathons rather than sprints. He noted that the project is following a natural trajectory for a development of this magnitude.
“Developments take time. The development is going on,” the Prime Minister stated. “We are progressing, and the Grand Bahamian people will be the better for it.”
His comments were echoed by Richard Bosworth, CEO of the Concord Wilshire Group, who dismissed rumors of a collapse as “misleading.” Bosworth confirmed that the team has moved past the initial planning stages and is now entering the execution phase, with a comprehensive announcement regarding construction timelines expected shortly.
The “Clean Slate” Strategy: Preparing for Growth
The government recently completed a targeted redundancy exercise for over 200 staff members – a move described by Director of Investments Phylicia Woods-Hanna as a vital “step forward” in readying the property for its next chapter. All affected employees received their full legal settlements on Friday, with each case reviewed to ensure fairness. She stated that the government is not leaving families behind and the Department of Labour is already engaged in “job matching” and skills training to transition these workers into new vacancies across Grand Bahama’s growing economy.
From 2018 to a New Horizon
The journey of the Grand Lucayan has been a long one, beginning with its $65 million purchase by the government in 2018 to save local jobs. However, the Davis administration’s $120 million agreement with Ancient Waters Bahamas Limited (a subsidiary of Concord Wilshire) represents the most stable and well-capitalized path to private ownership to date.
With the developer now focusing on capital structuring and design coordination, the “Renaissance” of Grand Bahama appears to be moving from the drawing board to the shoreline.
