Deputy Prime Minister Chester Cooper.
Photo: Donavan McIntosh/Tribune staff
By YOURI KEMP
Tribune Business Reporter
THE government will “look into” the concerns raised about the investor seeking to buy the Treasure Cay resort.
Chester Cooper, Minister for Tourism and Investments, speaking to reporters before the weekly cabinet meeting, said that “one of our objectives as the government is to make sure that there are harmonious relationships between existing investors, new investors, and the community and that’s what we will endeavour to do”.
The investor involved is Austrian Dr Mirko Kovats who has been involved in a number of development projects in The Bahamas which have attracted controversy.
Tribune Business understands Mr Kovats has already made an offer to the current owner of the Treasure Cay hotel. However, some residents feel there are better investors who are interested.
Dr Kovats, no stranger to controversy in The Bahamas, was involved in a deal to buy the old South Ocean resort in 2014. However, that was met with sharp criticism as people questioned his sincerity to buying the property so close to the Albany resort.
He was also involved in another controversial property deal in the Love Beach area in 2019 called “The View Love Beach,” which was also met with sharp criticism by the residents of Love Beach with them arguing the development would destroy their community.
It seems that Dr Kovats is running into opposition again in his Treasure Cay resort ambitions as several residents have contacted Tribune Business questioning his intentions and voicing their opposition to his acquiring the hotel.
The problem gets trickier as the power to veto the deal rests with The Bahamas Investment Authority (BIA) as the current owner of the resort, Robert Miester, has reportedly agreed in principle to sell the property to Dr Kovats and it is now just pending approval from the BIA.
Another concerned resident said Dr Kovats is just “bad news” and they wish his project is not given approval to move forward.
However, not everyone on Treasure Cay is vehemently opposed Dr Kovats acquiring the resort.
Francine Ojalvo Delarosa, purporting to be a member of the Treasure Cay Property Owners Association (TCPOA), wrote an open letter on February 22 to the Facebook page of the TCPOA about Dr Kovats potentially acquiring the resort and said that: “It is very encouraging to see progress and continued enthusiasm for our beloved Treasure Cay. We are all counting the days until we can make new memories here. There is a reason why this place is so magical and we all need to come together to keep it that way.
“The potential sale of TC Resort is not a new concept and is undoubtedly what our community needs and wants. The future of TC depends on new ownership. We must ensure that their vision is aligned with the vision of TC residents - no massive resorts/hotels, certainly no casinos, etc. I urge each and everyone of you to do your due diligence and learn about the potential new owner, Mr Mirko Kovats, and whether the vision for the resort will be in our community’s best interest.
“Our community deserves better and we must stand up and be vocal about our dreams and expectations of this community.”