NASSAU, BAHAMAS — Grand Bahama Chamber of Commerce President Ralph Hepburn says renewed international investment interest signals growing confidence in the island’s tourism future, as a $700 million redevelopment of the Grand Lucayan Resort moves forward, anchored by a 550-room Hilton-branded property and broader plans to reposition Freeport as a major tourism and cruise hub.
Hepburn said the entry of the globally recognised brand reflects trust in the island’s potential. “A well-known international brand has decided to come to Grand Bahama, which shows their confidence in the Grand Bahamian people and the ability of Grand Bahama to be a thriving tourist market,” he said.
He added that the development could help reshape the island’s economic landscape.
“We see this increasing critical mass of persons coming back to Grand Bahama to find gainful employment opportunities and not only as employers but as entrepreneurs and business owners and the ability to look for different areas to grow Grand Bahama economy,” Hepburn said.
Hepburn said the island’s future direction must move beyond past comparisons and focus on forward growth.
“What we like to think about for Grand Bahama moving forward, yes, people always talk about going back to the magic city, but progress does not mean going back,” he said. “Progress means moving forward with a new light, a new vision, and a new way.”
Hepburn said that new vision is rooted in empowerment and opportunity. He also called for greater collaboration and communication as development advances.
A $700 million redevelopment of the Grand Lucayan Resort is moving forward, anchored by a 550 room Hilton branded property, as plans take shape to reposition Freeport as a major tourism and cruise hub.
The project, led by Concord Wilshire, marks the latest attempt to redevelop the long struggling property following years of stalled efforts and delayed timelines.
Demolition has now begun at the site, according to officials, with initial works focused on securing and fencing the property after the necessary permits were approved.
The multi phase development is designed to combine stopover tourism with cruise driven visitor traffic. A central feature is a 20 acre beach club backed by the parent company of MSC Cruises, with capacity for up to one million cruise passengers annually. The beach club is expected to be accessible to Bahamians, residents and stopover visitors.
Eyewitness News understands the redevelopment could also include reconstruction of the Breaker’s Cay property into a separate 600 room resort, while the former Reef and Memories property is slated for demolition. Additional hotel rooms and family style accommodations are also planned.
The project includes two casino developments across separate zones, a mega yacht marina capable of berthing up to 20 vessels, and expanded retail and dining offerings, including at least 20 new restaurants.
The redevelopment is expected to unfold over the next two years and is being carried out through the developer’s Bahamian subsidiary, Ancient Waters Bahamas. It is also progressing alongside the planned redevelopment of the Grand Bahama International Airport.
The Grand Lucayan project comes amid broader tourism and cruise investment in Grand Bahama, including a $600 million development by Carnival Corporation at Celebration Key, a $450 million MSC port project at Billy Cay, and a planned $300 million redevelopment of Xanadu Beach by Royal Caribbean.
Prime Minister Philip Davis described the start of demolition as a significant step in Grand Bahama’s economic revitalisation, citing the project’s potential for job creation and long term growth.
The development is expected to proceed in phases as the site is transformed into a cruise linked tourism destination.
