A signing ceremony was held at the Office of the Prime Minister for the expansion of the 4M Resort in Harbour Island.

On hand at the ceremony was Prime Minister, the Hon. Philip Davis who said the agreement demonstrated investor confidence in the country. He also spoke to the opportunities available to Bahamians saying, “the resort village with retail shops means novel opportunities for Bahamian entrepreneurs to take a stake in one of the most vigorous markets in the country. New culinary destinations mean greater employment prospects for professionals in the food and beverage industry. While a more diverse housing market promises to upset the trend toward depopulation that is so prevalent across our family of islands.”

Michael Wiener of the 4M development gave an update on construction progress at the resort. “We started construction on eight residential units, four of which are completed and four of which will be completed hopefully in the next thirty – forty five days. We’ve completed installation of all the utilities underground. We’ve completed the grading of lots and we’ve completed construction of a facility at the back of house and we are near completion of four pickle ball courts.”

Minister responsible for family island development, the Hon. Clay Sweeting was also at the signing. The agreement is said to be worth approximately $150 million and will employee up to 120 Bahamians.