NASSAU, BAHAMAS- Free National Movement Leader Michael Pintard says the government’s $827 million Grand Lucayan redevelopment deal marks welcome progress for Grand Bahama, but insists that transparency, accountability, and concrete delivery are now critical to ensuring the project truly benefits Bahamians.
In a statement, Pintard said that last week’s Heads of Agreement (HOA) signing between the Government of The Bahamas and Ancient Waters Bahamas Ltd, Pintard said the FNM supports credible investment in Grand Bahama but insists Bahamians deserve full disclosure and real progress, not just promises.
“The Free National Movement welcomes any credible progress toward the redevelopment of the Grand Lucayan and the economic revitalization of Grand Bahama. We recognize that this represents movement on the long-standing effort to revitalize Grand Bahama’s economy, an objective we all share,” Pintard said.
“We believe the successful redevelopment of the Grand Lucayan has the potential to…create meaningful opportunities, strengthen local businesses, and contribute to sustainable national growth. Where such development is pursued transparently and in the public interest, we stand ready to collaborate in moving it forward.”
To that end, Pintard said the opposition has written both the Prime Minister and the project developer requesting a detailed briefing on the agreement’s terms, timeline, and anticipated impact. He noted that while broad ambitions have been outlined, key information remains unclear.
“We believe the Bahamian people have a right to be informed on the specifics of a development of this magnitude, particularly as it concerns the sale of a major public asset and the future of a critical economic center,” he said.
Pintard emphasized that the people of Grand Bahama have waited “far too long for real progress” and urged the Davis administration to deliver on its promises.
“We must now move beyond symbolic gestures toward tangible delivery,” he said. “Our vision is for a Grand Bahama that thrives, anchored by a modernized airport, a diversified economy built on tourism, innovation, and maritime opportunity, and a development model that includes Bahamians not just as employees, but as partners and stakeholders.”
The $827 million agreement, signed between the government and Concord Wilshire Capital’s Bahamian subsidiary Ancient Waters Bahamas Ltd, includes the sale of the Grand Lucayan property and adjacent golf course for $120 million. The project will be rolled out in phases and is expected to generate over 3,000 jobs—1,320 during construction and 1,750 permanent positions when operational.
The planned resort village will include a 350-room hotel, casino, timeshare units, water parks, marina, cruise port village, and other amenities. Prime Minister Philip Davis has described the project as “transformational,” citing its potential to be a major catalyst for Grand Bahama’s economy.
The Davis administration has pledged that at least 80 percent of jobs will go to Bahamians and emphasized the integration of local contractors, suppliers, and professionals throughout the project. Officials have also highlighted the elimination of $1.5 million per month in holding costs previously paid by the government to maintain the idle resort.
Still, Pintard warned against overpromising and underserving.
“At this critical juncture, we must work together to ensure that what is promised is delivered and that all Bahamians share in the benefits,” he said.
