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No NEW $9 Billion Dollar Development for Nassau; Price Tag & Scope Scaled Back

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By Dana Malcolm

Staff Writer

 

#TheBahamas, April 28, 2022 – What would have been the largest project of its kind in the Caribbean, the billion-dollar, 1000-acre mega hotel Coral Harbor project may be moving forward but only at a fraction of its initial size.

The smaller plan is estimated to cost no more than 300 million dollars but the original, designed by Winstanley Architects and planners for Bahamas Leisure & Resorts Ltd. President and Chief Executive Officer Aboudi Debs, was slated to have, “Six hotels, class A and class B, office space, four marinas, two golf courses, over 3,500 condominiums, single-family lots and estates, as well as retail and rental apartments.”

“Unfortunately, the very same day Baha Mar went into chapter 11 my client made a proposal for a multibillion-dollar project in Coral Harbour. There was absolutely no taste for a large project of that size at that time and we all know the history of what took place at Baha Mar, and Christie will never get the credit for what he deserves with respect to resuscitating the Baha Mar project, but in terms of the project in Coral Harbour, there was just no appetite for it,” Grimes said

The Baha Mar project was another venture that would have been the largest in the Caribbean but was plagued by controversy. After consistent delays and deferred openings, the project finally filed for bankruptcy in 2015. The principal developers blamed the development company, a Chinese company, for consistently missing deadlines and delaying the opening so far back that it became impossible to recoup the money spent. It was resold in 2017 and opened on a smaller scale.

Since then the Coral Harbor Harbor project has taken on a more bite-sized approach.

Grimes said the developers had assessed and scaled down to something that could be built in the ‘foreseeable future. The approach seems to have yielded fruit as the principal developers met with the Bahamian government earlier this month.

Grimes told the Tribune, that the Coral Harbour Development is months away from making any formal submission to the government.

“What they presented to the Government of The Bahamas was their intent to introduce phase one, stage one, which is a much smaller, well-defined project.”

In terms of approvals, Grimes said they had not reached that stage.

“They’re in the very preliminary stages of finalizing plans so an application can be made as such in short order. It takes time to finalize plans, then you have to get approvals and then begin putting shovels in the ground.

They’d not be applying, more likely for another four-plus months.”

The attorney sought to refute any rumors that the development was breaking ground soon saying he and his clients had nothing to do with that release of information;  calling it reckless and irresponsible for anyone to circulate that kind of information. He also cleared up rumors regarding a $9 billion transaction price tag on the resort saying it was “untrue.”

 

CAPTION (April 18, 2022) – NASSAU, The Bahamas — Coral Harbour Development executives recently paid a courtesy call on Prime Minister the Hon. Philip Davis (third right) at the Office of the Prime Minister.  Pictured l-r: Permanent Secretary Davis Davis; Voldemaras Kanchas, CHD Project Manager; Aboudi Debs, CHD Principal/President; Prime Minister Davis; Farid Abou Fadel, CHD Principal/Senior VP; and Attorney Valentine Grimes.

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Bahamas Warns Travellers as UN says Middle East Conflict May No Longer Be Contained

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The Bahamas, March 18, 2026 – Twenty days into the latest Middle East escalation, the United Nations is warning the conflict is spreading beyond its original battlefield, as the death toll rises and governments around the world issue urgent travel advisories — including The Bahamas.

In a March 17 statement, the UN Secretary-General’s office said the war must stop and called for all Security Council resolutions to be respected, noting with concern that countries in the Gulf continue to be targeted, raising fears of a wider regional confrontation.

The current round of fighting began February 28 with strikes involving the United States, Israel and Iranian-linked forces, followed by missile and drone attacks across Iraq, Lebanon and parts of the Gulf.

International monitors report more than 1,300 people killed in Iran alone, with additional casualties reported in Lebanon, Israel and Gulf states. U.S. officials confirm at least 13 American service members have died since the escalation began, while reports indicate additional senior Iranian military leaders were killed in recent strikes.

Despite the growing violence, several NATO countries including the United Kingdom, France and Germany have not joined offensive operations, instead calling for diplomacy to prevent the conflict from widening.

The Bahamas Ministry of Foreign Affairs has also issued a travel advisory, warning Bahamian nationals to avoid travel to Israel, Palestine, Iran and Lebanon and to reconsider travel across much of the Gulf region due to the risk of sudden escalation, flight disruptions and security threats.

Officials say Bahamians already in the region should remain vigilant and be prepared for rapidly changing conditions.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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The Bahamas Celebrates Andrew Young at 94 – A Legend Honoured with Love at Baha Mar Gala

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The Bahamas, March 18, 2026 – The Bahamas showed its deep affection for one of the world’s most respected civil rights leaders as Ambassador Andrew Jackson Young Jr. celebrated his 94th birthday in grand style at a gala held at the Eccho Art Gallery, Grand Hyatt Baha Mar on March 12, 2026.

The evening was filled with tributes, laughter and cultural pride, reflecting what many guests described as a genuine bond between Young and The Bahamas — a country he has long admired and visited often. Those in attendance said the celebration felt less like a formal event and more like a heartfelt tribute to a man whose life has helped shape modern history.

Prime Minister Philip Davis, Foreign Affairs Minister Fred Mitchell, Bahamas Ambassador to the United States Wendall Jones, and U.S. Ambassador to The Bahamas Herschel Walker were among the dignitaries offering remarks, along with Andrew Young Foundation President Gaurav Kumar and other international guests.

The event was co-hosted by veteran broadcaster Karyn Greer of WSB-TV Channel 2 Action News and Bahamian journalist Dr. Deborah Bartlett, who both reflected on Young’s lifelong commitment to justice, diplomacy and public service.

Born in 1932, Andrew Young is widely regarded as one of the most influential figures of the American civil rights movement. He worked closely with Dr. Martin Luther King Jr., served as a key leader in the Southern Christian Leadership Conference, and later became a U.S. Congressman, U.S. Ambassador to the United Nations under President Jimmy Carter, and Mayor of Atlanta.

Over the decades, Young has been honoured by multiple U.S. presidents, including receiving the Presidential Medal of Freedom, the nation’s highest civilian award, from President Bill Clinton. His diplomatic work, civil rights leadership and global humanitarian efforts have earned him recognition across the world.

Guests noted that even at 94, Young remains active, engaged and passionate about international cooperation and human rights, continuing to inspire new generations.

His wife, Carolyn McClain Young, delivered the vote of thanks, expressing gratitude for what she called the warmth and love shown by the Bahamian people.

The celebration ended in true island fashion with a Junkanoo rush-out, bringing guests to their feet in a joyful close to an evening that blended history, culture and admiration.

For many in attendance, the message of the night was simple — Andrew Young loves The Bahamas, and The Bahamas loves him right back.

Developed by Deandrea Hamilton • with ChatGPT (AI) • edited by Magnetic Media.

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Experts Analyze Economic Landscape; Opportunities and Challenges

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Nassau, THE BAHAMAS – From pressures on the independence of the US Federal Reserve and relations with China to the instability facing the global economic landscape and how it all impacts The Bahamas’ economy and prospects, Tuesday’s Central Banking Series hosted by University of The Bahamas (UB) in partnership with the Global Interdependence Center (GIC) peeled back the layers of the most critical factors impacting the world’s economic landscape.

At the one-day summit, top economic strategists, policymakers, academics, and economists gave frank and considered insights on the range of opportunities and challenges. In facilitating the high-level talks, UB’s Government and Public Policy Institute (GPPI) continues to provide the platform for evidence-based dialogue on public policy and reform.

“By convening world-class thinkers, policymakers, and practitioners here in Nassau, we affirm that The Bahamas is not solely a subject of global economic forces, but also a participant in the conversations that shape them,” said UB President Dr. Robert Blaine, III.

In his remarks, Minister of Economic Affairs Senator the Honourable Michael Halkitis acknowledged the ripple effects of financial shifts which put pressure on the Bahamian economy, yet he acknowledged that the economy is on the rise. He expressed confidence in the country’s readiness to adapt, citing a deep talent pool and expanding foreign and domestic investments.

“What makes this period particularly significant is the breadth of investment activity across sectors,” said Minister Halkitis, a UB alumnus. “Tourism development remains strong, but it is not the sole driver of growth. Investments are expanding into renewable energy, maritime services, digital infrastructure, agriculture, logistics and the blue and green economies.”

Economist and Former President and CEO of the Federal Reserve of Richmond, Dr. Jeffrey Lacker offered a sobering view on the independence of the US Federal Reserve, a topic that has attracted much national and international in the face of blistering pronouncements by US President Donald Trump.

Dr. Lacker said the Federal Reserve’s choice of monetary policy instrument and setting of the overnight interest rate that it controls should be “free of executive branch and congressional meddling.”

“And by meddling, what I mean is overtly expressed policy direction, opinions about where policies should go, expressed in a way that carries with it the implied threat of adverse consequences to either the individual or the institution, either in the form of legislative changes or some sort of political harassment,” he said.

“The value of insulating day-to-day, meeting-to-meeting monetary policy from pressure from elected officials with an eye on their next election is widely recognized. Neglecting that pressure, caving into that pressure is a road to short-termism, or short-term stimulus at the cost of inflation later on.”

Other pertinent conversations at the summit focused on digital initiatives for financial inclusion, monetary and fiscal policies and strategies in The Bahamas, and the impact of AI on macroeconomic conditions. There was also a special presentation on the history and value of gold. Students from Government High School were among the audience members gaining knowledge from experts.

“When we determined the theme for this year, being Challenges and Opportunities in a Dynamic Global Environment, we did not know what was going to evolve in recent times,” said GPPI Executive Director Zhivargo Laing, referring to the war that the US and Israel initiated against Iran. “So I would like to think that maybe there was a little bit of insight that was taking place during the course of our discussions. But we are here again for the third time with our partners at the GIC to entertain a deep discussion on just what are those challenges and opportunities in this very dynamic environment in which we find ourselves.”

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