Calling Exuma and its cays "poised for the greatest period of sustained economic growth in their history", the Prime Minister Perry Christie has revealed several new developments on the cards for the islands, including a $100 million "ultra-high-end resort" that aims to be the "jewel of The Bahamas".
"The project could become a defining one for the Exuma Cays," said Christie.
During his budget communication in Parliament on Wednesday, Christie spoke of several previously revealed and new resort developments on Exuma.
Among them, CH Twister PTC Limited has proposed to create a "one-of-a-kind" resort experience on William's Cay and Children's Bay Cay, catering to "ultra-high-net-worth individuals" with a development that will include an "ecological-oriented golf course".
CH Twister PTC Limited is listed as a private trust company registered in The Bahamas.
"The project would be developed to the highest international environmental standards, including an ecological-oriented golf course. Staff housing is to be built at Barraterre, which is only a short ferry ride from the cays."
"The company's planners and architects, who have had considerable experience in planning high-end, environmentally friendly resorts, are engaging the services of Bahamian counterparts to work closely with them. This project, which could become a defining one for the Exuma Cays, will provide a significant number of jobs, entrepreneurial and business opportunities for the people of Barraterre and adjacent communities."
At Norman's Cay, famous as the former headquarters of Colombian drug lord Carlos Lehder during the late 1970s and early 1980s, developers are awaiting permit approval for the Whale Tail Resort. The resort will comprise a series of luxury villas, a beach club, water sports, spa, cabins and a restaurant.
According to Christie, work will begin upon receipt of the building permit and the project is scheduled for completion within 18 months.
According to Guardian Business investigations, the project is being developed by a group called Fort Capital. Its website suggests a first quarter 2013 initial launch date, suggesting it has experienced delays. Other developments by the group include five properties in Florida, primarily in South Beach, Miami.
Confirming information revealed by Guardian Business earlier this week, the prime minister spoke of the sale of Crab Cay to a "global partnership" known as Five Oceans. Christie said that the group will buy the island, certain mainland properties, Little Crab Cay and the Augusta Bay Hotel from the Murphy family who presently owns it.
"Five Ocean's vision for the development of Crab Cay is to continue the major undertakings for a mixed-use upscale residential resort and manor community of the previous owner in their existing heads of agreement, with adaption along the lines of the model followed at Albany," said Christie. The Murphy family had originally anticipated an $800 million resort project at Crab Cay, announcing it in 2007, months prior to the U.S. financial crash.
Elsewhere, with respect to existing developments, the MacDuff's resort has been renovated, with a "state-of-the-art" solar plant constructed, along with other infrastructural and utility works being carried out to support the resort on the island and newly-constructed staff accommodations.
"Two ferry docks have been constructed and work has commenced on the reconstruction of the airport runway to increase its length to 4,700 feet, and a terminal facility which will meet the requirements of the civil aviation, customs, immigration and police authorities. Upon completion of the runway, a reconfigured marina will be constructed to provide the best-designed product," said Christie.
The prime minister noted that Sandals is experiencing "improved performance" which has benefitted Exuma as a whole, and having recently acquired additional land, is "verily expected" to move forward with further expansion.
"Sandals has consolidated its position as the anchor resort in Exuma, together with its boutique facility at Fowl Cay. The property's improved performance and high profile in the marketplace have benefitted Exuma as a whole and raised its profile as a desirable resort destination and second home location."
At February Point, acquired earlier this year by John McGarvey and a group of investors, Christie said that developers have started work on "sprucing up the landscaping and proceeding with some preliminary construction work which will involve local contractors and employees".
"The components of the resort are to include the construction of a community pool, beach club, recreational park and sales reception, 25 condo-type units in a hotel rental pool, a boutique five-star resort hotel, restaurant and expansion of marina facilities with a marina village," said Christie.
"Both properties (February Point and Crab Cay) are changing ownership to persons who possess the vision and the means to undertake major developments. They have also indicated a willingness to become involved in public/private sector partnerships for the overall benefit of Exuma and to enhance community development," said Christie.
In an earlier interview with Guardian Business, the developers had said they would seek to find a developer to build a hotel on the property, as they are not "hotel developers", and added that the marina village component of their project would be contingent on demand which was "very difficult to predict".
The prime minister said that besides the "primary benefits" of projects like February Point and Crab Cay, they attract home owners and their friends who have wealth and influence and who can of their own accord potentially make considerable investments in The Bahamas.
"My government will therefore encourage Exumians and fellow Bahamians to take advantage of the many job and business opportunities now at hand," said Christie.
This news comes as Guardian Business recently confirmed other investment interest and sales in the Exumas, including a proposal for a $40 million development on Culmer's Cay and the sale of Innocence Island at a New York auction for $17 million.

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