The new Grand Bahama International Airport will be developed by a Bahamian group called Aerodrome Limited along with two other partners and will be completed no later than the end of the first quarter of 2025, Minister of Tourism, Investments and Aviation Chester Cooper revealed today during the Grand Bahama Business Outlook.
Cooper said the development of the new international airport and US pre-clearance facility will come at a cost of $200 million.
He explained that the deal with the airport development group, which includes Aerodrome, UK-based Manchester Airport Group Limited and UK-based BHM Construction International UK, was struck last month.
He added that the airport development will be funded through UK Export Finance.
According to Cooper, the full buildout of the airport will take five years and will employ 1,200 Bahamians in that time.
The Bahamians spearheading the Grand Bahama airport project include career engineer Anthony Farrington, businessman Tony Meyers, CFAL President Anthony Ferguson, and businessman Greg Stuart.
Cooper also said that there continues to be ongoing dialogue and considerable interest from groups in purchasing the Grand Lucayan Resort property.
He said three credible offers for the hotel recently came in to Lucayan Renewal Holdings from entitles that have already undergone due diligence.
Cooper insisted he will not speak about the sale of the property until the investor’s money is “in the bank”.
He contended that government is intent on selling the resort to someone who will create a world-class destination in Grand Bahama.
“If we wanted to just sell the hotel it would have been done,” he said.
“The closing price is important, but the buyer’s capacity to complete the redevelopment of the resort, the resort into a property into a world class standard is paramount.”
