NASSAU, BAHAMAS— East Grand Bahama MP Kwasi Thompson says shifting developments surrounding the proposed redevelopment of the Grand Lucayan Resort have deepened uncertainty for residents, workers, and businesses on the island.
In a statement, Thompson said a May 2025 signing ceremony had promised a “transformative future” for the resort but that the tone changed within weeks, followed by months of evolving updates.
“By December, the messaging had changed and workers went unpaid before the holidays. By January, we were told more clarity was coming. By February, the termination of 279 employees was announced,” Thompson said. “Now, after reports that the deal had collapsed, we are faced with statements and counter statements attempting to reset the narrative yet again.”
His comments come after the Concord Wilshire Group rejected an Eyewitness News report which indicated that its proposed $120 million acquisition of the property had collapsed, stating that discussions with the government remain active and that a formal project announcement is forthcoming.
Thompson said the repeated changes have left the island facing “economic whiplash.”
“One week the project is advancing, the next week it is stalled, then it is clarified, and then it is corrected. This political seesaw has exhausted the people of Grand Bahama,” he said.
He added that taxpayers have funded the property for years while workers and businesses have endured prolonged instability as they awaited the project’s economic impact.
“The government must now put forward a complete and documented account of where the Grand Lucayan stands, what the financial exposure truly is, and exactly when construction and job creation will begin,” Thompson said. “The island requires certainty, and it requires it now.”
The government acquired the resort in 2018 from Hutchison Whampoa and has since sought a private investor to redevelop the property, which has been viewed as a key driver of economic recovery for Grand Bahama.
Concord Wilshire has said it will announce the formal commencement of development activities, including demolition and preparatory works, within weeks.
The future of the Grand Lucayan — a 56-acre beachfront property with the adjacent Reef Golf Course — remains central to the island’s tourism strategy and long-term economic outlook.
