The Tribune

By YOURI KEMP

Tribune Business Reporter

ykemp@tribunemedia.net

A Cabinet minister yesterday confirmed the government has approved a $130m investment, previously revealed by Tribune Business, to help “revitalise” Grand Bahama’s economy.

Kwasi Thompson, minister of state for finance, told the Grand Bahama Business Outlook conference that Weller Development’s project at Discovery Bay will create around 100 jobs locally although he did not break this down between construction and permanent posts.

The project will be located on the 30-acre Barbary Beach site previously owned by Marriott, and Mr Thompson said: “The government has now approved the mixed-use development, which is slated to include a small format marina, retail pavilions, for-rent villas and for-sale estates. The total capital investment planned is approximately $130m with a projection of creating approximately 100 local jobs.”

Weller Development is presently spearheading a 235-acre waterfront redevelopment project in Baltimore. This newspaper was previously told its Discovery Bay investment could be just the first stage in a much bigger vision that could potentially see Weller Development fill the vacuum created by Hutchison Whampoa, and its Grand Bahama Development Company (Devco) affiliate, when it comes to real estate-based ventures that could regenerate Freeport’s and, by extension, Grand Bahama’s wider economy.

Elsewhere, Mr Thompson confirmed Doctors Hospital’s strategic partnership with the Cleveland Clinic will result in a “flagship” hospital/medical facility being constructed in Grand Bahama for 2022. He described it as the BISX-listed healthcare provider’s “most advanced” project, adding that it will become “a centre of excellence” in Cleveland Clinic’s network.

“Adding to the growing list of non-traditional investor projects coming to Grand Bahama is Doctors Hospital’s flagship facility, a partnership with the Cleveland Clinic,” the minister added. “In January of this year, Doctors Hospital announced it had formed a strategic advisory council with the renowned Cleveland Clinic to broaden its scope of healthcare services and enhance delivery throughout the country.

“A new facility, planned for 2022, is slated for construction in Grand Bahama. It is expected to be Doctor’s Hospital’s most advanced. It will take its place as a center of excellence in the Cleveland Clinic network.”

Dr Charles Diggiss, Doctors Hospital’s president, told Tribune Business earlier this year that the proposed Grand Bahama healthcare facility will be “comparable to our New Providence” assets. He added that development of a private “in-patient” care facility in Grand Bahama had already required six months of planning work at the time.

“It will be at least comparable to what Doctors Hospital in New Providence is, but we’re looking at an ability to expand it and consideration given, due to our relationship with the Cleveland Clinic, whether that becomes the flagship Doctors Hospital/Cleveland Clinic facility in Grand Bahama,” he told this newspaper, adding that a 2022 opening date is being eyed.