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Nassau Guardian: 'More investments for Eleuthera'
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Posted by:Jul 24th 2003, 02:04:34 pm
Fig Tree News Team23 July 2003/Nassau Guardian oonline
More investments for Eleuthera

Eleuthera, an economic sleeping giant for the past several years, will soon awake to greet a series of investments expected to follow the $75 million dollar Heads of Agreement signed Tuesday to construct a resort hotel on Windermere Island in the south.

By TAMARA McKENZIE Guardian Staff Reporter tamara@nasguard.com

Prime Minister Perry Christie announced yesterday that further investments would follow, as the government will continue to have a "concentrated focus" to bolster the economy of the island.

Speaking at an early morning press conference from the Cabinet Office, accompanied by the Minister of Financial Services and Investments Allyson Maynard Gibson, and other government officials, Mr. Christie also announced that that government had begun negotiations between the Hotel Corporation and substantial investors to construct a luxury world class resort on a 3,000 acre site owned by the Corporation at Half Sound and Joseph's Cay near Tarpum Bay, Eleuthera.

The Hotel Corporation and the Minister of Financial Services and Investments, he said, were mandated to move assiduously to ensure that the necessary commitments were in place to allow the government to "declare" a firm commitment to developing this property.

"The government's full approval will indicate that it is only a matter of time before this particular development will be a further catalyst to continue development of south Eleuthera," he said.

Additionally, the Prime Minister announced that the Hotel Corporation was presently involved in discussions with Club Med for the possible sale of its Governor's Harbour property to a major American investor. He mentioned that it was his hope that this investor would move diligently to develop the once thriving hotel into an attractive resort.

Club Med in Governor's Harbour, which offered employment to hundreds of Eleutherans, closed its doors in November 2001, shortly after the devastation of Hurricane Michelle.

The Prime Minister also indicated that he was aware of proposals before the Ministry of Financial Services and Investments for additional property developments in Central Eleuthera at Tranquility Bay, the Unicorn Cay area, Jack's Bay and Davis Habour near Green Castle. These developments, he said, would involve for the first time, a mega investment by Bahamians, some of whom have in Eleuthera.

Meanwhile, politics aside, Prime Minister Christie said the government would come together as one with all Bahamians when it came to ensuring that investors were aware of The Bahamas' democratic stability. He noted that because of its stability, The Bahamas was proving to be one of the safest and most secure countries in the world and as result of this, investors in increasing numbers, were reflecting the confidence that they had in The Bahamas.

"They feel that this is the place where they can bring their children and live comfortably and invest comfortably. This is being reflected in the kind of investments that we have," Mr. Christie said.

Caption:INVESTMENT FOR ELEUTHERA - Joseph Carry Rich, owner, Windermere Island North Development Ltd., left, and Alvin Smith, MP for North Eleuthera, right, greet each other during the signing of Heads of Agreement to construct a resort hotel on Windermere Island in South Eleuthera. Looking on is and Oswald Ingraham, MP for South Eleuthera. (Staff photo by Donald Knowles)

Posted Wednesday 23 July, 2003

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