Over $1 Billion in Projects coming for Grand Bahama says Smith in Budget contribution

Garfield Ekon

Staff Writer

#TheBahamas, June 18, 2024 – Mega investments projects are building the economy of Grand Bahama, according to Parliamentary Secretary in the Ministry for Grand Bahama, Kingsley Smith.

Mr. Smith who is also the Member of Parliament for the West End and Bimini Constituency, has pointed out that development in the area includes: $500M Carnival Cruise Port, the $71M relaunch of South Riding Point Energy Terminal with an approved loan guarantee for Liwathon Group, the $600M Grand Bahama Shipyard expansion; the $5M investment by Xquisite Yachts; and a $300M investment in West Grand Bahama.

The MP who made the remarks during his recent contribution to the 2024/2024 Budget Debate in the House of Assembly, said the Government is heavily focused on homeownership.

“In West Grand Bahama in our first phase of this initiative, in the West Heights Subdivision opposite Bootle Bay, we will seek to build affordable homes on the remaining 36 vacant lots. In South Bimini, we intend on creating a Crown Subdivision. The proposed area of land has already been identified and the initial assessments are soon to be carried out for its usage,” he told the House.

Mr. Smith outlined that financial relief has been provided by the Government for residents, and130 five thousand dollar-Empowerment Grants were approved and distributed for those in the Orange Economy. $500 relief grants for straw vendors, and distribution of relief grants for Junkanoo groups.

For Hurricane Dorian survivors, the MP said support has been provided for them which includes repair and rebuild of homes in East Grand Bahama, something that is still ongoing.

He said a mortgage drive will be held for the residents of West Grand Bahama and Bimini, to make sure they can qualify for the mortgages to enable home ownership, noting that a mission of the Davis/Cooper administration was to introduce the Rent-to-Own program, to make access to homes available. “Those who may not qualify for a mortgage, this program can serve as a viable alternative,” he said.