NASSAU, BAHAMAS —- Prime Minister Philip Davis refused to give a direct answer when asked if the government has received the $120M from Concord Wilshire executives for the purchase of the Grand Lucayan Hotel in Grand Bahama.
Davis dodged the questions while urging residents to “wait and see” as his government looks to revive Grand Bahama’s economy with a deal that will redevelop the beleaguered hotel.
The Davis Administration signed a Heads of Agreement with Concord Wilshire last week Thursday.
His answer, however, is a sharp contrast when compared to Deputy Prime Minister Chester Cooper’s assertions that “money is in the bank.”
The actual receipt of funds has been an issue for government officials who say previous talks with potential investors seemed ripe until negotiations eventually collapsed.
Davis said, “Instead of us coming together to ensure that this project is successful, why just stand back and criticize?”
He added: “For years, nothing has happened. Something is about to happen.”
Davis has defended the deal as opposition officials have demanded more transparency surrounding the details of the HOA agreement.
