Heads of Agreement signed for $300 mil. South Abaco resort project

Heads of Agreement signed for $300 mil. South Abaco resort project
Prime Minister Dr Hubert Minnis (center) poses with (from left) South Abaco Island Administrator Donald Rolle, Minister of Tourism Dionisio D'Aguilar, developer Ronnie Ben-Zur, Cabinet Secretary Camille Johnson, Central and South Abaco MP James Albury, and Minister of Foreign Affairs Darren Henfield at the HOA signing ceremony in South Andros.

600 workers expected to be employed during construction phase

SANDY POINT, ABACO – The government has signed a Heads of Agreement with Tyrsoz Family Holdings for a $300 million South Abaco resort and marina project that marks the largest development on the island.

Prime Minister Dr Hubert Minnis announced the project will be developed over two properties: the Lantern Head property, which features a hotel and golf course; and the South West property, which centers around a super-yacht marina village.

The prime minister noted construction on the project and any other construction beyond the high-water mark will be prohibited until the review and approval of the Environmental Management Plan by the BEST Commission.

The developer must also submit an Environmental Impact Assessment for review and approval.

Minnis said the project is expected to employ 600 workers during the construction phase, adding the developer also expects to bring on 600 workers for the operational phase.

He added Tysroz Holdings has agreed to “aim for a ratio of no less than 80 percent Bahamian workers to 20 percent non-Bahamian workers”.

At Thursday’s signing, Minnis said the move demonstrated the strong confidence investors have in the future of Abaco and the country some five months after Hurricane Dorian.

“It includes: an up-market resort community with a wide range of amenities, including the expansion and upgrade of the Sandy Point Airport, a marina, golf course, clubhouse, restaurants, a retail and residential component, swimming pools, waterpark, utility services, resort accommodations and related amenities,” said Minnis at Thursday’s signing ceremony.

“Lantern Head is designed to be a private community inclusive of a hotel and golf course…will encompass a boutique 50-room hotel with beachfront access, restaurants and guest amenities; 76 residential lots, inclusive of 66 beachfront lots and 10 hilltop lots, and an 18-hole full-size golf course with a driving range, full-service club house, pro shop and other amenities.”

He continued: “South West Point is focused around a super-yacht marina and encompasses two boutique hotels and a marina village, along with residential lot offerings.

“This portion of the development is expected to include: a 136-slip marina with slips up to 660- feet and all the necessary amenities; a marina village that will provide services to marina and hotel guests and residential homeowners, and offer shopping, dining experiences, bars and entertainment.

Minnis said the marina village development will also include: a 75-room luxury hotel located behind the marina; a small European-style casino with approximately 5,000 square feet of gaming space, and; 90 lots, inclusive of 44 marina canal lots, 26 waterfront residential lots and 13 hill-top lots.

Tyrsoz Holdings has secured a letter of intent with a well-renowned luxury resort operator, according to Minnis.

Minnis said the HOA details the establishment of a South Abaco Business Development Fund, alongside a number of community enhancement projects and infrastructure investments in South Abaco.

Infrastructure upgrades include: the expansion and enhancement of the existing Sandy Point airport; the extension of Queen’s Highway.

Tyrsoz Holdings has also committed to investing more than $1 million in various restorative environmental community projects.

For more information, tune into Eyewitness News tonight at 7pm on Cable 224 or BTC Flow TV.


Terrible spot for a resort and even a more terrible spot for a marina. Those areas are one of the last places for people to go hunting and now it is being destroyed. I have been hunting there since i was a little boy and in the upcoming year i will never be able to even go out there because of the resort. They will destroy alot of homes and habitats for animals. The marina will have a devastating effect on the marine life and that area is a main spot for fishermen but i guess the fishermen can retire and be hired at the hotel. The abaco parrot and the white crown pigeon will have to find a new home i guess because they will tear down all green land/bush where they feed. Abaco will soon only have pine yards and no other native bush. I wonder how much money minis made on this one. The people are never thought of.

You’ve been hunting on private land that makes up 2% of the entire area? Do you know about the marina plan or what its effects will be? Y’all just love to hate while talking out your a*s.

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