Demolition has begun at the Grand Lucayan Resort property in Grand Bahama following the announcement of the partnership between Concord Wilshire and CTL Maritime, a subsidiary of MSC Cruises. The deal will see CTL develop 20 acres of the property into a beach club.
Director of Investments, Phylicia Woods-Hanna spoke with ZNS News about the new phase of development on Monday. She said MSC has proven to be a sound investor in the country and that their involvement in the Grand Lucayan project reflects growing investor confidence in Grand Bahama.
“I think it brings a unique offering. The way the Grand Lucayan is structured it’s an enormous undertaking and that’s why you would have seen that it takes time to really bring these types of projects of this scale to fruition,” she said.
Woods-Hanna compared the Concord Wilshire project in Grand Bahama to that of Baha Mar in New Providence. “The opportunities that MSC as a good corporate citizen is providing to our country as a whole, I’m happy about, I’m comfortable with. Also the partnership with Concord Wilshire and the commitment and the time that Concord Wilshire really invested in the project is something that’s commendable.”
The Grand Lucayan redevelopment project also includes the expansion of the Port Lucaya Marketplace. The aim is to create a connection between the resort, the cruise port and local businesses. Woods-Hanna said, “it’s timely and I would reiterate that I understand completely the plight of the Grand Bahamians. It’s been a long time waiting and there have been a lot of emotions that are surrounding this project from my standpoint as a technical officer that’s obligated to the Bahamian public I would say that nothing before its time.”
