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.



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