National

Demolition Is Underway At The Long-Abandoned Tyne Bay Site

NASSAU, BAHAMAS – A $40 million luxury residential project led by Xquisite Yachts is set to transform the long-abandoned Tyne Bay property on Grand Bahama, with demolition already underway and promises of new jobs and upscale living.

Published

8 months ago

June 22, 2025

Italia Hall

GRAND BAHAMA, BAHAMAS – A once derelict and deserted property is now the future site of transformation.

The long-shuttered Tyne Bay development on Grand Bahama is being torn down, making way for something entirely new, multi-million dollar luxury residences.

It is the latest venture from Tamas Hamor, the founder of Xquisite Yachts, who recently purchased the property as part of his company’s broader commitment to Grand Bahama.

Hamor and his team are no strangers to revitalization. Their first successful project was the transformation of the old Running Mon Marina into the Xquisite Catamaran Center, which is reportedly doing well.

Now, Hamor is setting his sights on developing an upscale residential community.

Tamas Hamor – Owner, Xquisite Yachts
“It’s a gated community with residential communions, with a clubhouse, with a coffee shop and a little gym maybe, and a go place with a pool. And there are different buildings with different size of apartments we are planning to have, with solar panels on the roofs and docks all around the building so people can dock their boats. It’s just preliminary.”

Although there is no confirmed date for when construction will begin, the demolition currently underway marks the first visible sign of progress. Hamor says they are actively seeking investment partners to help move the project forward.

Tamas Hamor – Owner, Xquisite Yachts
“It’s about a 40 million dollar investment and again, we are looking for some investment partners.”

Once complete, the development is expected to generate a number of full-time local jobs, contributing to both economic growth and revitalization in Grand Bahama.