National

HOA Signing Marks Major Milestone For Grand Bahama

GRAND BAHAMA, BAHAMAS – On Thursday, May 15th, the government is expected to sign the Heads of Agreement for the redevelopment of the Grand Lucayan Resort, a move being touted as a game-changer for the island’s economy.

Published

9 months ago

May 13, 2025

Italia Hall

GRAND BAHAMA, BAHAMAS – Following years of delays and economic uncertainty, Grand Bahama is poised for a potential turnaround.

On Thursday, May 15th, the government is expected to sign the Heads of Agreement for the redevelopment of the Grand Lucayan Resort, a move being touted as a game-changer for the island’s economy.

The signing ceremony is expected to be attended by Prime Minister Philip Davis and other high-level officials.

Managing Director of the Pelican Bay Hotel, Magnus Alnebeck, says the development couldn’t come at a better time.

He says the project is expected to bring a number of spin-off opportunities.

Alnebeck believes the momentum from the resort project could also push forward another critical infrastructure upgrade: a new airport for the island.

Magnus Alnebeck – Managing Director, Pelican Bay Hotel
“And despite economic challenges over the years, Pelican Bay has managed to stay afloat.”

And with Thursday fast approaching, he says hotel bookings have already increased.

Overall, Alnebeck says the Heads of Agreement signing is a positive move for the island, and he’s optimistic about its future.