Reopening of hotels on New Providence and Harbour Island and luxury residences on Cable Beach among upcoming developments
NASSAU, BAHAMAS — Prime Minister Dr Hubert Minnis said yesterday there are signs of “hope and progress” on the investment front as he outlined several developments in the works throughout the country.
During his wrap-up to the 2021/2022 budget debate, Minnis said “international investors are confident about the country’s prospects” as he referenced the redevelopment of the Sandals Royal Bahamian resort on Cable Beach.
“The redevelopment will cost some $37 million. Preliminary work has begun. The projected timeline for completion is early November 2021. When Sandals on New Providence reopens in a few months, they are expected to engage 1,000 workers,” said Minnis.
“The Bahamas is on its way back”
He added: “As another example, the well-known Rock House Hotel and Restaurant on Harbour Island, which closed at the start of the pandemic, is set to reopen under new ownership. The hotel is a 12-room boutique accommodation. It will reopen this coming November 15, employing 30 Bahamians.”
Minnis noted another Cable Beach development is scheduled for completion in 2023.
“Aqualina has recently been approved to commence a $75 million condominium project east of One Cable Beach, adjacent to the Baha Mar Resort. This development will be operated by Aristo Development, the management company for several successful modern high-rise condominium projects inclusive of One Cable Beach Development and Thirty Six Ltd, to name a few,” he said.
“Aqualina will comprise 27 large three- and four-bedroom residences, each with an ocean view.
“Aqualina has completed all pre-construction and design work and is presently under construction with a full complement of Bahamian contractors. At peak construction, approximately 300 Bahamians will be employed. Aqualina is scheduled for completion in 2023.”
The prime minister noted there are also a number of other “substantial and economically diversifying projects” in the pipeline.
