MSC Cruises subsidiary CTL Maritime and Concord Wilshire has announced their partnership for the redevelopment of the Grand Lucayan Resort in Grand Bahama
In a statement released on Thursday CTL announced it had entered an agreement to acquire and develop a 20 acre portion of the Grand Lucayan property into a beach club for MSC cruise guests.
The government also released a statement of support for the new agreement. It said, “this agreement represents a defining moment for Grand Bahama and the future of our island. This redevelopment of the Grand Lucayan Resort has long been a national priority, and this step forward speaks to our commitment to restoring Grand Bahama as a leading tourism and investment destination. “
This latest partnership joins other MSC investments in the country including the Freeport Harbour expansion and Ocean Cay phase 3.
Director of Investments, Phylicia Woods-Hanna said, “this is just one product offering that will do wonders for Grand Bahama and as Director of Investments I’m excited about it. Not so much just for this investment but the other investments that will come after it.”
Woods-Hanna also addressed why certain details of the Grand Lucayan redevelopment project are yet to be made public. She said, “transactions of this magnitude, one thing I would like to say is the public should be sensitized to how sensitive they are. And you know because of that there has to be a level of confidentiality. I know because this has been a project in the making for a number of years I understand the eagerness of the public but to not compromise the partnership or the potential partnerships that we are trying to foster, its difficult at this juncture to really disclose who those partners are.”
A heads of agreement was signed between the government and Concord Wilshire for the redevelopment of the Grand Lucayan property in May, 2025.
