Development Plans Advancing; Major Project Announcement Forthcoming
Concord Wilshire Group categorically refutes an earlier report by Eyewitness News suggesting that the proposed $120 million acquisition and redevelopment of the Grand Lucayan Resort has “collapsed” or has been “dead for about four months.” These assertions are false and without factual basis.
Concord Wilshire Group confirms that it continues to work collaboratively and constructively with the Government of The Bahamas toward the redevelopment of the Grand Lucayan property. Discussions remain active, productive, and aligned with the shared objective of revitalizing this critical asset for the benefit of Grand Bahama and the broader Bahamian economy.
“We want to be very clear: the redevelopment of the Grand Lucayan Resort is moving forward,” said Richard Bosworth, CEO of Lucayan Resort, Concord Wilshire Group. “Reports suggesting otherwise are inaccurate and misleading. Concord Wilshire remains fully committed to this project and to our partnership with the Government of The Bahamas. Further, Concord Wilshire appreciates The Office of the Prime Minister clarification earlier today in disputing the inaccurate and false statements of the Eyewitness News report.
Concord Wilshire further confirms that within the next two weeks, the company will announce the formal commencement of development and construction activities, including:
- Two major cruise line destination resorts; and
- The official start date for site demolition and preparatory construction works .
“Our team has continued to advance planning, design coordination, capital structuring, and development scheduling,” Bosworth added. “We are entering the execution phase and look forward to making a comprehensive announcement shortly that will outline the construction timeline and project milestones.”
The redevelopment of the Grand Lucayan property represents a transformational investment for Grand Bahama, including substantial job creation, increased tourism activity, and long-term economic impact.
Further details will be released in the company’s upcoming formal project announcement.
