National

Resort Developers Sign HOA for $800M Development

NASSAU, BAHAMAS – The signing of a Heads of Agreement, makes way for an $800 million resort community project for South Abaco.

Published

2 years ago

December 15, 2022

Marlena Leonard

NASSAU, BAHAMAS – An $800 million resort community project will be coming soon to South Abaco. This after a Heads of Agreement was signed between the government and South Abaco Land Development Company Limited.

The group has already signed an agreement with Setai – well known for their luxury hotel in Miami – as the hospitality brand and operator for the property which will be known as Kakona.

Senior Trustee of the Harrell Family Trust, Steve Harrell says developers have already invested 50 million dollars into the project over the past 15 years.

Member of Parliament for Central and South Abaco, John Pinder, shared his excitement for the diversification of the economic geography of Abaco.

South Abaco Land Development Company director, Tom Boynton, described the development as environmentally sensitive.

The 700 acre property will include amenities like a marina for over 200 boats of up to 250 feet in length, a golf course, a resident’s club, a hundred units in the harborfront property, and over 100 homes- the commercial aspect of the property is expected to be completed in five to seven years. And, they’ve said they expect shovels in the ground within months.