NASSAU, The Bahamas – During his Keynote Remarks at the Grand Opening of the Sterling Hurricane Hole Superyacht Marina, on November 25, 2022, Prime Minister and Minister of Finance the Hon. Philip Davis stated that the Hurricane Hole Superyacht Marina and The Residences at Paradise Landing were “fitting and welcome additions to the continued development of The Bahamas’ world-renowned tourism product”.
“This 250-million-dollar development is set to revitalize and diversify Paradise Island’s luxury vacation profile,” Prime Minister Davis said, at the Paradise Island site of the property. “The entire development has effectively created a downtown district on Paradise Island and includes restaurants, harbor-front residences, professional offices, a food store, a wines and spirits retailer, and other commercial and retail vendors.”
“This boon is bringing excitement to Paradise Island, adding to the convenience for Paradise Island residents and the experience of visitors at hotels and short-term rentals,” he added. “More dining, boating choices, entertainment, and convenient services will serve to augment the overall experience of residents and visitors alike.”
Among those present from the Government included Deputy Prime Minister and Minister of Tourism, Investments and Aviation (MOTIA) the Hon I. Chester Cooper; Minister of National Security the Hon. Wayne Munroe; Minister of Labour and Immigration the Hon. Keith Bell;Minister of Youth, Sports & Culture the Hon. Mario Bowleg; Minister for Grand Bahama the Hon. Ginger Moxey; Minister of State for the Public Service the Hon. Pia Glover-Rolle; Minister of State in the Ministry of Education and Technical & Vocational Training the Hon. Zane Lightbourne; Permanent Secretaries Reginald Saunders and Phedra Rahming-Turnquest; Parliamentary Secretary in the Ministry of Foreign Affairs Jamahl Strachan; MOTIA Acting Director General Latia Duncombe; MOTIA Deputy Director General and Acting Director of Aviation Dr. Kenneth Romer; Senior Advisor in the Office of the Prime Minister Kevin Simmons; and other Government officials and stakeholders.
Prime Minister Davis noted that, at the heart of the development is the Sterling Hurricane Hole Superyacht Marina capable of hosting “the world’s most exclusive” superyachts — boats up to 420 feet in length.
“I’ve been made to understand that this Marina boasts a cutting-edge redesign with floating and fixed docks, and an impressive 6,100 linear square feet of berthing space,” he said.
“This marina, right here on Paradise Island, is poised to be perhaps the best, and most sought after in the region,” Prime Minister Davis added. “With top quality amenities to boot, the Hurricane Hole Marina stands to become a standard bearer in the industry.”
Prime Minister Davis said that the revitalization of an historic landmark into a global contender was already “raising the standards for luxury yachts to feel welcome in The Bahamas”.
“And although it is just officially opening tonight, I’ve been told that bookings are strong for the coming months and demand is such that the marina will be full to capacity,” he said. “This bodes well for The Bahamas.”
“It opens another income-generating stream and will create long-term, sustainable employment for many Bahamians,” Prime Minister Davis added. “Here, I must commend the developers, Sterling Global Financial, who, from the very beginning of the project have maintained a staunch commitment to sourcing and utilizing local talent and resources.
Prime Minister Davis pointed out that, for the project, they partnered with an all-Bahamian construction company, ISD; sourced most goods and supplies locally; and employed over 200 Bahamians during the pandemic. He added that Bahamians were positioned at the highest levels of management and will continue to be prioritized in all ongoing phases of the project.
“On behalf of my administration, I would like to congratulate the developers and reiterate our commitment to facilitating the kinds of developments that are poised to have a long-term positive impact on the socio-economic conditions of The Bahamas,” Prime Minister Davis said.
He pointed out that his Government was keen to identify new and innovative ways to enhance the ease of doing business; and added that they will engage more closely with the private sector to identify and mitigate challenges with the view to encouraging more investment.
“It is incumbent upon us to do all that we can to maintain, develop, and diversify the industries that have long been our bread-and-butter,” Prime Minister Davis said. “Our tourism product ranks among the best in the world; and we must continue to work diligently to protect, maintain and develop it.
“It is better in The Bahamas; so let’s work together to keep it that way.”