National
$170M Development Set for Exuma Cay
NASSAU, BAHAMAS – A $170 million heads of agreement with Torch Cay Development Limited signed today, which the prime minister says will serve as an economic stimulus, not only for Exuma, but the country.
NASSAU, BAHAMAS – A $170 million heads of agreement with Torch Cay Development Limited signed today, which the prime minister says will serve as an economic stimulus, not only for Exuma, but the country.
Once completed the project with provide an 18-hole golf course, environmental research facility, sustainable farm, marina, and a beach club and spa.
The development in its entirety is slated to take 10 years to complete, but PMR Bahamas Principal Ray Penske explains it will be completed in phases.
The agreement makes way for the 250 jobs through construction and another 250 jobs when completed.
Managing Partner at PMR Bahamas Realty and Torch Cay Development Limited Philip Simon says work on the project has already started.
He explains the plan is to ensure the policy on local to foreign laborers is maintained.
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