NASSAU, BAHAMAS- Concord Wilshire Capital announced that it has signed a series of major agreements to accelerate the redevelopment of the Grand Lucayan Resort, setting in motion plans for multiple cruise-focused resorts, a mega yacht marina, and an integrated casino complex in Freeport, Grand Bahama.
Central to the plan is a deal with CTL Maritime, the cruise division of MSC Group, to develop an MSC Beach Club on a key parcel of the resort, with demolition set to begin imminently, pending environmental approvals. A second Ancient Waters Cruise Resort will be developed concurrently, further expanding capacity for major cruise line guests.
CEO Richard Bosworth said, “This agreement marks a transformational milestone for Freeport and the island of Grand Bahama. It will serve as a powerful catalyst for economic growth, job creation, and the long-awaited revitalization of the Grand Lucayan Resort into a world-class destination. We are especially grateful for the leadership and vision of Prime Minister Philip Davis, whose initiative and unwavering support have been instrumental in making this partnership possible.”
The Government of The Bahamas welcomed the announcement, praising Concord Wilshire and CTL Maritime for advancing the redevelopment of the Grand Lucayan Resort, calling it “a cornerstone asset for Grand Bahama’s tourism and economic resurgence.” Officials highlighted that the project combines “enhanced capacity, global reach, and a shared commitment” to creating a modern, competitive resort product that will generate jobs, expand opportunities for local businesses, and strengthen investor confidence in Grand Bahama.
Prime Minister Philip Davis added, “This agreement represents a defining moment for Grand Bahama and the future of the island. We welcome Concord Wilshire, CTL Maritime, and their partners, and look forward to the significant economic growth, job creation, entrepreneurial opportunities, and long-term investment this project will deliver for our country.”
Concord Wilshire also confirmed parallel developments, including the Mega Yacht Marina and integrated Casino Resort, along with future plans for the Ancient Waters Beach Hotel & Casino Resort and the redevelopment of the Reef Golf Course into a Greg Norman Championship Course.
President Nate Sirang said, “Combined with the activation of the Mega Marina and Casino Resort, this development will generate substantial economic activity, create meaningful employment opportunities, both for the Lucayan Resort and Port Lucaya Marketplace and its retail tenants, and will serve as the cornerstone for the long-anticipated revitalization of the Lucayan property.”
The government highlighted that this development is part of a broader partnership with MSC, which includes the Freeport Harbour expansion, the Billy Cay project, and Phase 3 of Ocean Cay MSC Marine Reserve, reflecting a long-term commitment to meaningful investment and sustainable growth in The Bahamas.
