The Davis administration is willing to table the recently terminated Grand Lucayan deal in Parliament if the public wants it, Prime Minister Philip Brave Davis said yesterday.
“It did not occur to us whether we should or not but if you think that’s a cry of the public, we could,” Davis said.
“I would just ask the minister of tourism and investment to lay it on the table. I think it does deserve a communication from him as to where we were, where we are and where we intend to go.
“That will perhaps include laying those documents on the table of the House.”
The Minnis administration purchased the resort from Hong Kong conglomerate Hutchison Whampoa in August 2018 for $65 million.
A agreement between the government and Bahamas Port Investments Limited was signed in March 2020, under the Minnis administration, and the final buying price was $50 million.
The redevelopment of the property was set to start this year but the COVID-19 pandemic delayed and changed the terms of the agreement.
The Davis administration announced last week that the sale agreement was canceled.
Minister of Tourism, Investments, and Aviation Chester Cooper said it was not in the best interest of Bahamians.
“The government was frankly not satisfied with what was proposed or that the project would be advanced in the short or medium term,” he said.
“We were not willing to continue on without a clear timeline for completion and were of the view that many of the terms were not in the best interest of the Bahamian people.
“For example, the Minnis administration via Lucayan Renewal Holdings Limited had agreed to lend money to Bahamas Port Investments Limited to renovate and develop the property. In summary, the deal was not a win-win for the Bahamian people.”
Royal Caribbean has said it is still interested in purchasing the Grand Lucayan.
The post Govt willing to table Grand Lucayan deal appeared first on The Nassau Guardian.
source https://thenassauguardian.com/govt-willing-to-table-grand-lucayan-deal/
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