Swiss entrepreneur and businesswoman Dona Bertarelli has signed a heads of agreement for a $200 million project in Exuma which she said will anchor "the next stage in a long-term strategy to develop an international collection of ultra luxury hotels", of which the as-yet-unnamed Exuma resort will be "the centerpiece".

And Bertarelli - who in 2015 was #352 on Forbes' billionaires list, and #8 in Switzerland, with a net worth north of $4.2 billion - made it clear at the signing that the environmental issues are front and center.

Bertarelli and her brother Ernesto inherited a fortune when the family biotech business, Serono, was sold in 2007 for $9 billion. Since the sale, she has entered into business ventures of her own. She is already the owner of the Country Club Geneva and the Grand Hotel Park in Gstaad and recently acquired the Five Seas Hotel in Cannes.

During the signing ceremony, Bertarelli focused on the environment.

"Because these islands are so beautiful, it is our absolute duty to preserve and enhance their environment. We pledge to do that," she said.

"The resort will be low-rise, low density. All the accommodations will be designed to blend with the natural surroundings. Sixty percent of Children's Bay Cay will be preserved as green space. Mangroves will be enhanced. Any significant trees that have to be moved - and we are moving as few as possible - will be held in a nursery and cared for prior to planting in a favourable spot. We will use as much solar energy as possible," she said.

"Sewage - the least glamorous topic of a glamorous resort - will go through tertiary treatment and be recycled for irrigation," she added.

History
Bertarelli said she first came to The Bahamas almost 10 years ago, and that she has cruised the Exumas extensively and repeatedly.

"I believe the Exumas represent the ultimate luxury vacation destination, like a hidden treasure, waiting to be discovered. The guests we seek to attract can afford the finest and the best, but in so many ways the Exumas offer something money can't buy: unspoiled beauty, tranquility, and yet so close to home and trouble free. So for me, The Bahamas was the obvious choice to establish a new style of resort, the obvious choice for the next stage in a long-term strategy to develop an international collection of ultra luxury hotels.

"The resort in the Exumas will form the centerpiece of that collection. It will embody my vision to offer today's affluent travellers all they desire: outstanding attention to detail and unparalleled personalized service, relaxed yet sophisticated, delivered in very special destinations. Nowhere could be better to turn this vision into reality than the Exumas cays," Bertarelli said.

Golf course
One of the most expected amenities at luxury resorts is the golf course. It is, at the same time, one of the most environmentally problematic features of resort developments, especially in environmentally sensitive areas, as the Exumas are.

Bertarelli and the unnamed course designer address - in an accompanying FAQ - those concerns. They say a detailed environmental management plan (EMP) is under development that includes a fertility plan with a focus on minimizing nutrient applications as well as strategic monitoring of both ground and surface waters to assure applied nutrients are fully utilized.

The developers also say the details of the technical design are in development, "taking best practices in golf course design from all over the world into consideration. This includes the use of a highly efficient irrigation system design that will reduce the total amount of water required for the course."

"The golf course design carefully takes into consideration and addresses any potential environmental effects on the island and the surrounding ocean. While the course routing will provide stunning vistas of the surrounding nature and a notion of being immersed in the Exuma nature, the holes are strategically set back from the seaside providing room for natural run-off mitigation.

"Stormwater runoff from the golf course will be collected via the shaping of the landscape away from the ocean to drain internally in combination with a collection system that directs excess water and run-off into designated catchment areas. The catchment areas are specifically protected against further run-off or groundwater penetration and serve to treat the water for efficient re-use on the golf course."

Environmental
The developer acknowledges "a minimal amount of dredging" will be done.

"An existing boat basin on Children's Bay Cay is currently access through a channel that traverses and impacts the main beach of the island. In order to mitigate this, it is planned to relocate the access point to the boat basin to optimize the future operations of the resort. A minimal amount of dredging will be required to facilitate the relocation."

The developers also addressed the mangrove question.

"According to the Environmental Impact Analysis, there are no coastal mangroves on the two cays. Some mangroves exist on the interior in existing ponds. These ponds and mangroves will be preserved and enhanced.

"A number of protected Lignum Vitae trees exist on Williams Cay. The design of the island will take them into careful consideration. Where necessary, the trees will be replanted in a nursery and used in the landscaping of the project."

Project detail
Bertarelli is funding the entire project from her private equity fund from Switzerland. No bank financing is required to complete the project and fund operations, and the land acquisition was completed without debt.

While the FAQ answered environmental questions in some detail, some project details are surprisingly absent. For example, the developers have "retained one of the world's leading resort and villa architects that has created some of the most spectacular resorts all over the world including in the Caribbean," but the FAQ does not name the architect. And with respect to the golf course, the developers note that it will be an 18 hole championship course offering spectacular vistas from all golf holes, and say a "globally renowned golf course design firm is working on detailing all aspects of the golfing experience."

Again, no name is attached.

Groundbreaking for the resort is scheduled for the third quarter of 2016, with the resort opening scheduled for late 2019. The developers plan construction and operation of community facilities including a medical center, police station and public dock in the Barre Terre community, Exuma.

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