Just a few months after Hurricane Dorian in The Bahamas, Abaco is poised for a major new investment.
The government of The Bahamas has signed a heads of agreement with Tyrsoz Family Holdings for the development of an estimated $300 million new resort project in South Abaco.
The developers of the project are proposing a “world-class, environmentally sustainable, luxury-island retreat with local appeal and community participation, while maintaining the natural charm of the environment,” according to a government statement.
“Abaco is on the move,” said Bahamas Prime Minister Dr Hubert Minnis, who was on hand for the signing ceremony at Sandy Point in Abaco. “[This signing] is an important part of the post-Dorian reconstruction and rebuilding effort.”
The five-star, residential resort development is also slated to include a marina and a golf course, along with branded hotels.
The “residential resort” moniker means it will also include a real estate component.
Perhaps most significantly, Bahamas officials said the new project would also include the enhancement of the Sandy Point Airport.
Sandy Point is the westernmost point of the southern Abaco, west of the Abaco National Park.
The latter would come to a destination that is already home to the leading golf resort in The Bahamas, the Abaco Club on Winding Bay.
The new project comes as South Abaco has already mounted an impressive recovery — the Abaco Club has been back open since the autumn of 2019 (it even opened the new Abaco Yacht Club in November), as has South Abaco’s Sandpiper Inn hotel.
“In order to restore the lives of the people of Abaco and Grand Bahama we must boost economic activity and development on both islands,” Minnis said.