$660M investments in pipeline for South Long Island

$660M investments in pipeline for South Long Island

NASSAU, BAHAMAS – South Long Island will see ‘a lot of activity’ in the coming year with $660 million worth of investments having been approved since last September, according Director of Investments Phylicia Hanna. 

Hanna while addressing the Long Island Business Outlook noted that the investments include the $250 million Calypso Cove luxury resort and cruise port development as well as the  $410 million Salinas project at the old Diamond Crystal property which will span three phases. 

“Southern Long Island will see a lot of activity in the coming year with both the Salinas project which is the Diamond Crystal’s project as well as Calypso Cove,” said Hanna. 

Sherif Assal, executive Chairman of Azul Destinations Ltd the Calypso Cove project developer is awaiting environmental approval. Assal said that the company has already spoken with a number of cruise lines, with its cruise port to supplement Nassau’s cruise port. 

“Our goal is to push everything towards Long Islanders as much as we can,” said Assal, with the company set to start with a $250 investment.

The government signed an agreement with Azul Destinations Ltd and Calypso Cove Destinations Ltd last month. The development of Calypso Cove is under the direction of former Carnival Corporation VP of global port and destination development, Carlos Torres de Navarra.

Assal said that the project, which has three phases, will be undertaken over a three-year period, with an opening projected in November 2025.