Search results for : harcourt developments

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News Article
Harcourt eyeing sale of Royal Oasis

By ALISON LOWE

Business Reporter

alowe@tribunemedia.net

Harcourt Developments, the Irish-based property development company that bought the Royal Oasis hotel in Freeport in 2007, may be in talks to sell the property, the Minister of Tourism and Aviation said yesterday.

Having announced in late 2008 that the economic climate meant it would have to postpone its redevelopment plans for the damaged hotel and former major Grand Bahama employer, Vincent Vanderpool Wallace told Tribune Business yesterday that Harcourt continues to maintain it is not in a position to move ahead with the resort.

"The last time (the Government) heard directly from them was probably about two or three months ag ...

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News Article
Laing: Govt not in talks with Harcourt Group

No new developments have surfaced on the status of the Royal Oasis Hotel, according to State Minister for Finance Zhivargo Laing, despite a report saying the government is in talks with the Harcourt Development Company. Laing told Guardian Business yesterday that any information suggesting that the government is in discussions with the Irish-based group isn’t accurate, and no form of communication has been made. “There are no changes in this area; I don’t know where this information is coming from,” Laing said. “No changes in that situation at all.” His comments come after a report from Timeshares Daily claimed that Laing is in talks with the ...

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News Article
Fire at Princess Towers, Grand Bahama Island (PHOTOS)

Princess Towers, at one time one of the largest resort complexes in Grand Bahama, was the scene of a fire on Thursday, September 23, 2010.

Shortly after 1pm the fire department was alerted to the unfortunate
incident and they quickly attempted to reach the cause of the billowing
black smoke on the 7th floor of the derelict building. There were no
flames seen from outside of the ten story structure.

The Princess Towers was part of the Royal Oasis development under
Harcourt Developments of Dublin which lasted only a few years and due to
the recession the project was put on hold leaving scores of Bahamians
out of work...

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News Article
(VIDEO PHOTOS) Fire at Princess Towers, Grand Bahama Island

Freeport, Bahamas -

Princess Towers

which was at one time
one of the largest resort complexes in Grand Bahama, was the scene of a
fire on Thursday, September 23, 2010.

Shortly after 1pm the fire department was alerted to the unfortunate
incident and they quickly attempted to reach the cause of the billowing
black smoke on the 7th floor of the derelict building. There were no
flames seen from outside of the ten story structure.

The Princess Towers was part of the Royal Oasis development under
Harcourt Developments of Dublin which lasted only a few years and due to
the recession the project was put on hold leaving scores of Bahamians
out of work...

read more »


News Article
Fire at Princess Towers, Grand Bahama Island

Freeport, Bahamas -

Princess Towers

which was at one time
one of the largest resort complexes in Grand Bahama, was the scene of a
fire on Thursday, September 23, 2010.

Shortly after 1pm the fire department was alerted to the unfortunate
incident and they quickly attempted to reach the cause of the billowing
black smoke on the 7th floor of the derelict building. There were no
flames seen from outside of the ten story structure.

The Princess Towers was part of the Royal Oasis development under
Harcourt Developments of Dublin which lasted only a few years and due to
the recession the project was put on hold leaving scores of Bahamians
out of work...

read more »


Business Listing

Bahamia Service Company
Project Management (Construction),Building Contractors & Maintenance
  • Bahama Bay Marina / No.3 Dundee Bay Drive / Bahamia South
  • Freeport
  • Grand Bahama, Bahamas
News Article
Royal Oasis and Bazaar 'joined at hip'

The president of the International Bazaar in Grand Bahama is calling the vacant Royal Oasis and Casino across the street "an unfortunate situation", with the fortunes of the market "joined at the hip" with the uncertain property.
Chris Paine, the president of the International Bazaar Owners Association, said the loss of the resort for the last seven years has left a void in terms of business.

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News Article
PM optimistic over economic and job growth

Prime Minister Perry Christie yesterday expressed optimism over job creation and ongoing recovery in the national economy as he spoke on the final day of debate on the 2012/2013 budget in the House of Assembly.
Christie said he has been meeting with people with the capacity to add jobs to the economy.
"I'm optimistic, Mr. Speaker, that with hard work we're going to succeed in bringing this country back to where it should be," he said.
"...We feel encouraged about our new position in this country looking forward."
Christie previously said the country needs 43,000 new jobs over the next three to four years to reduce the high unemployment level.
He reported yesterday that he met recently with officials of Brookfield Asset Management, the new owners of Kerzner International, and they expressed a sense of optimism over the property's future.
Christie said that at some stage Brookfield will be doing things to make its product stronger.
He also said he is optimistic with respect to the Baha Mar project at Cable Beach, and added that the government will be involved in marketing both properties to ensure they are able to co-exist.
Christie also announced that the Albany development in southwest New Providence is getting ready to expand.
The prime minister also expressed optimism with respect to Grand Bahama, whose economy the new administration has pledged to place special focus on.
"I'm optimistic that when we look at Grand Bahama and the decisions we made to provide a reduction in the taxes for hotels... those reductions were calculated to signal to hotel owners that the Government of The Bahamas is prepared to work assiduously to ensure that Grand Bahama recovers," Christie said.
In his recent budget communication, the prime minister announced a reduction in the hotel occupancy tax for new hotels in Grand Bahama for 10 years.
Minister of State for Finance Michael Halkitis said after the budget communication that it is important to note that the cap on real property tax and the reduction in hotel occupancy tax are specifically designed to stimulate the Grand Bahama economy, attract tourists, create jobs and stimulate the construction of new hotels.
"The benefits of course will be more revenue, more jobs and more new business opportunities for Bahamians," Halkitis said.
Christie announced yesterday that the government is reviewing the Ginn development in West Grand Bahama "with a view to seeing how we can in fact cause that to be developed."
Grand Bahama's economy -- which was suffering serious challenges long before the global economic crisis struck in 2008 -- continued to limp along under the Ingraham administration.
Earlier this year, then Prime Minister Hubert Ingraham admitted that there were disappointments relative to the Grand Bahama economy since 2007, including the Ginn project going bust and Harcourt failing to redevelop Royal Oasis Hotel.
Yesterday, Prime Minister Christie also indicated that his administration is reviewing a project for Grand Bahama that the Ingraham administration rejected.
"I met before the election with a partner in that development," he said. "I am reviewing as we speak the development that was refused by the former government. It has been reshaped and refashioned. We are having discussions. We will have to see what comes out of it."
The former prime minister announced that his government had no intentions of approving a major project for East Grand Bahama that was being proposed because the government had serious concerns about the proposal.
Christie said yesterday there is a will on the part of the developers and there is a will on the part of the government to get the project off the ground.
He said the country needs a quantum leap in employment.
The latest statistics from the Department of Statistics placed the national unemployment rate at 15.9 percent last fall, up by over two percentage points from 13.7 percent in May 2011.
The unemployment rate in New Providence stood at 15.1 percent, while in Grand Bahama it was estimated to be 21.2 percent.
Referring to Grand Bahama, the prime minister said, "We are well aware of matters that have been brought to the attention... of the former government with respect to the industrial sector and we are reviewing those."
Christie said there is on the horizon the hope of things getting better all around.
"And so, I am optimistic about developments that are taking place around this island (New Providence) and around this country," he said.
Referring to concessions, Christie said the government would ensure that the Bahamian people get the maximum benefits of developments.
He assured his administration will exercise care in the granting of concessions.

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News Article
GBPA: 1M In Receivables At Bazaar

The Grand Bahama Port Authority (GBPA) has racked up $1 million in receivables trying to keep the International Bazaar afloat. Ian Fair, the chairman of GBPA, said that he is "intimately aware" of the problems faced at the once bustling marketplace.

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