Prime Minister and Minister of Finance the Hon. Philip Davis said, on February 2, 2023, that it was a pleasure to be at the signing of the latest and, to date, “most robust Heads of Agreement” between the Government of The Bahamas and 4M Harbour Island.
“What began as a boutique resort and marina, has evolved to encompass an impressive retail component, comprising 93 estate homes, cottages, and villas,” Prime Minister Davis said, at the signing event, held at the Office of the Prime Minister. “Building on the $112 million already invested into the commercial ecosystem of Harbour Island, this residential development represents a further capital investment of $150 million for North Eleuthera.”
Present were: 4M Harbour Island Director, Michael Wiener; Attorney-General and Minister of Legal Affairs Senator the Hon. L. Ryan Pinder; Minister of Agriculture, Marine Resources and Family Island Affairs the Hon. Clay Sweeting; Secretary to the Cabinet Nicole Campbell; and Director of Investments, Bahamas Investments Authority Phylicia Woods-Hanna.
Prime Minister Davis noted that he was “delighted” by the strong investor confidence that expansion represented, and he looked forward to the benefits it will bring the island.
He added that, as the footprint of the project expanded, so will the resultant benefits for the residents of Harbour Island and North Eleuthera.
“A resort village with retail shops means novel opportunities for Bahamian entrepreneurs to take a stake in one of the most vigorous markets in the country,” Prime Minister Davis said.
He noted that new culinary destinations meant greater employment prospects for professionals in the food and beverage industry, while a more diverse housing market promised to upset the trend toward depopulation that was so prevalent across the Family of Islands.
“I’m sure the Attorney-General and the Minister of Family Island Affairs will agree with me when I say that this investment is just one of the many exciting developments slated for our Family Islands,” Prime Minister Davis said.
“We are busy securing the expertise and capital necessary to stimulate commerce throughout our archipelago,” he added. “Our ‘Blueprint for Change’ has a plan for every population centre, and we are committed to unlocking the potential of all our people, in all our islands.
“My thanks, again, to our partners at 4M Harbour Island for their bold and ambitious investment into the Commonwealth of The Bahamas.”