D’Aguilar: Grand Lucayan prospective purchasers still ‘interested and engaged’

D’Aguilar: Grand Lucayan prospective purchasers still ‘interested and engaged’
Grand Lucayan Resort

NASSAU, BAHAMAS — Tourism Minister Dionisio D’Aguilar said yesterday that the prospective purchasers of the Grand Lucayan property on Grand Bahama are still very much interested and engaged, describing ongoing discussions as very “robust”.

The Government signed a Heads of Agreement with Holistica, a joint venture between Royal Caribbean Cruises and the ITM Group, to purchase the Grand Lucayan property for $65 million earlier this year.

The group had I proposed to redevelop the Grand Lucayan resort complex and transform Grand Bahama’s cruise port into an adventure park, developments which could produce over 2,000 direct jobs.

According to D’Aguilar, the sale was very close, prior to the onset of the COVID-19 pandemic.

He was asked about the status of the property’s sale at a Minister’s Report conference yesterday.

“We signed the deal to sell it and proceed forward on March 3 then the pandemic hit,” he said.

“We were so close we could taste the sale and the pandemic came along and caused a renegotiation of certain aspects of that deal.”

D’Aguilar said: “Discussions are very robust. I was on the phone twice last week on a Zoom call with the prospective buyers. They are still very interested and engaged. Hopefully in the not too distance future we will have something to report. We are getting there.”