The Tribune

By DENISE MAYCOCK

Tribune Staff Reporter

dmaycock@tribunemedia.net

GRAND Bahama Minister Ginger Moxey said the government expects to complete the acquisition of the long-abandoned International Bazaar within ten days, ending a complex process involving 13 owners and clearing a major hurdle for the proposed Afro-Caribbean marketplace project in Grand Bahama.

Speaking with reporters outside Cabinet yesterday, Mrs Moxey said the government has reached an agreement with the owners of the property, which has been in decline for more than 20 years.

"There was one holdout, and the process of payment should begin over the next 10 days or so," she said.

The property was appraised several years ago at $2.88m.

Mrs Moxey said the acquisition forms part of a broader plan to develop the Afro-Caribbean marketplace, a proposed economic development project featuring pavilions representing 55 African countries, 20 Caribbean nations and the islands of The Bahamas.

She said the project is intended to function not only as a tourism attraction, but also as a logistics hub for goods imported from Africa and the Caribbean for redistribution to international markets.

Mrs Moxey said a board has already been established for the initiative under a company called ACMLC Grand Bahama Limited.

She said the project has secured a $1.86m project preparation facility from Afreximbank to fund architectural and design work, environmental assessments, feasibility studies and other preparatory work.

The minister also said the government has acquired the Harcourt property, which includes the Princess Tower and casino, for $1m. She said the government has secured 4.365 acres of land along West Sunrise Highway for $1 to facilitate the reopening of the road.

She said Grand Bahama residents have been calling for the road to reopen for almost 20 years.