NASSAU, BAHAMAS — A Royal Caribbean executive stated yesterday that the company’s investment in its beach club development is likely to surpass the initially projected $165 million outlined in its Heads of Agreement (HOA) with the government, with equity raise to Bahamian investors to collectively hold a 49 percent equity ownership in the development expected by the end of the second quarter or early third quarter of this year.

The government signed a Heads of Agreement for the Royal Caribbean beach club destination on Paradise Island on Monday along with a groundbreaking ceremony.

Schneider highlighted that one percent of the annual gross revenue of the Royal Beach Club will be allocated to a National Investment Fund. Additionally, Bahamians will have the opportunity to invest in the project owning up to 49 percent equity, with the remainder held by RCI.

READ MORE CLICK HERE

LEAVE A REPLY

Please enter your comment!
Please enter your name here