The PLP-led Government, under the leadership of Prime Minister Philip “Brave” Davis, has officially completed the sale of the Grand Lucayan Resort and adjacent Reef Golf Course to Concord Wilshire Capital, in partnership with Bahamaland Investments. The $120 million deal, finalized on May 15, 2025, sets the stage for a transformative $827 million redevelopment that prioritizes Bahamian jobs, ownership, and economic resurgence .
This ambitious project will transform Grand Bahama into a dynamic mixed-use destination. The master plan features a branded 350-room hotel, 120 residential or timeshare units, a 25,000-square-foot indoor-and-poolside casino, a new 160-acre Greg Norman championship golf course, and an 18-slip mega-yacht marina. It also includes a 36-acre cruise terminal village capable of accommodating up to 10,000 passengers daily—seamlessly connected with the Port Lucaya Marketplace and marina .
Construction is set to start immediately, with demolition already underway. Concord Wilshire estimates the project will generate approximately 1,300 construction jobs and 1,750 permanent positions. A contractual obligation ensures that 80 percent of all staff, both during construction and in ongoing operations, will be Bahamians. Current Grand Lucayan employees will also be retained .
As part of their nationwide renewal agenda, the PLP emphasizes that this initiative delivers on multiple fronts. Deputy Prime Minister and Tourism Minister Chester Cooper noted that it “sets the foundation for long-term economic growth and revitalization” in Grand Bahama .
Prime Minister Davis affirmed the PLP’s focus on transparency and national benefit, stating that the sale process was conducted properly through government channels and that all proceeds will support public interests. He framed the deal as a direct means to deliver economic opportunity, renew families’ livelihoods, boost small businesses, and strengthen infrastructure .
Local stakeholders celebrated the outcome. Concord Wilshire’s President, Nate Sirang, praised the project’s scope, saying it “will reignite tourism, generate local jobs, fuel the local economy, and craft a legacy” . Peter Hunt, Principal and Managing Director of Port Lucaya Marketplace, described the vision as creating “a vibrant village resort with a sense of place” that honors local culture while engaging international visitors .
With demolition under way and development planned in phases, the Grand Lucayan redevelopment demonstrates the PLP’s commitment to large-scale progress that benefits the nation. By securing global investment, ensuring Bahamian employment, and promoting transparent governance, the PLP delivers its promise: meaningful economic renewal for Grand Bahama and all Bahamians.. Praesent finibus congue euismod. Nullam scelerisque massa vel augue placerat, a tempor sem egestas. Curabitur placerat finibus lacus.
