The Tribune reported that Bolivian-US businessman Felipe MacLean and his Miami-based Yntegra Group have lost active control of the Cave Cay resort development in the Exumas after being removed from the company's management. California developer Emile Haddad now holds full ownership of the 220-acre project, confirming that neither Yntegra nor MacLean are involved in any aspect of the development.
According to Haddad, Yntegra is now only a passive, minority investor with no influence over the project, which is being developed in partnership with Bvlgari and a team spread across London, Miami, and Istanbul. “When we started looking into it, I think a lot of people thought Felipe (MacLean) personally owned all this project,” said Haddad. “He’s a very, very, very small percentage on the ownership of the initial investment. They are not involved in the project in any form or shape. I haven’t spoken to Felipe for months.”
Despite this, Yntegra’s website continues to list the Cave Cay project as part of its portfolio, claiming expertise and ongoing developments in The Exumas. However, as Yntegra no longer manages Cave Cay, the majority of the land referenced is not under its control, and there is no evidence of completed Yntegra developments in the region or elsewhere. Their claims appear to be more aspirational than factual.
A Yntegra spokesperson clarified that their focus is now on the Rosewood Exuma project and that a Yntegra-affiliated entity retains a stake as a general partner in Cave Cay. Website statements continue to highlight MacLean as a notable figure in Exuma hospitality development, but no details are provided to support these assertions.
Haddad reiterated that Yntegra lacks any management role in Cave Cay, holding only a minority, passive investment. All decisions are made by Haddad and his team, who are preparing to significantly reduce the project’s density and preserve open spaces in collaboration with Bvlgari.
Yntegra’s interest in Bahamian development became public in early 2023, leading to a Heads of Agreement with the government for Cave Cay and a separate agreement for the Rosewood Exuma Resort at Sampson Cay. MacLean’s original plans for Cave Cay included a large hotel, numerous residences, and an expanded marina, but nothing has been built, and Haddad’s Bvlgari resort is now moving forward.
Legal complications emerged even before Yntegra finalized its agreement with the government. In January 2023, a Saudi royal reportedly worth more than $100 billion filed a lawsuit against the company over a disputed $5 million investment tied to the island venture.
Prince Salman Bin Sultan Bin Salman Bin Abdulaziz Al Saud alleged that Cave Cay LP, which Yntegra controlled, violated an agreement requiring both parties to contribute $5 million to the partnership. He claimed the partnership demanded the payment from him while not holding Yntegra to the same obligation. The prince further accused Cave Cay of overstating Yntegra’s ability to attract outside investors and asked the court to block the partnership from declaring him in default over what he described as a “discriminatory capital call.”
Cave Cay LP rejected the allegations, and no additional public filings followed. The matter quietly disappeared, widely believed to have been resolved privately. Although Yntegra insisted the dispute had no bearing on the project, the sequence of events casts doubt on that assertion.
After Bvlgari joined the project, Haddad and his team restructured the partnership and assumed full control. Haddad, an experienced developer, leads the Cave Cay Limited Partnership and is chairman of the board for Cave Cay General Partner Ltd. The planned Bvlgari Resort & Mansions at Cave Cay is expected to receive substantial investment.
With Yntegra out of the picture, their current focus is on the neighboring Sampson Cay project, where they plan to build suites and residences with luxury amenities. Yntegra claims this project is fully funded and meets all legal requirements, though their development experience is questioned.
The Rosewood Exuma project has faced ongoing controversy, especially regarding environmental impacts, project scale, and density. Yntegra asserts it has reduced its environmental footprint and partnered with leading firms, but opponents remain skeptical.
When asked about MacLean's business dealings, Yntegra denied any connection to the Venezuelan government, stating his commodities trading experience was strictly across Latin America.
A group of residents, business owners, and community advocates has come together under the name Save Exuma Alliance (SEA) to oppose the proposed Yntegra development. According to SEA, Yntegra’s project would shift Sampson Cay from an untouched natural island into a heavily built‑up luxury enclave, sacrificing the very qualities that make the Exumas unique. The group argues that the plan involves dredging areas containing coral reefs and seagrass beds, installing an extensive concrete seawall, removing natural wetlands, and causing long‑term environmental harm.
