Business

Hurricane Hole Superyacht Marina officially opens

PM: Development has created a downtown district on Paradise Island

Yacht horns blared as the Hurricane Hole Superyacht Marina was officially opened on Friday.

Deputy Prime Minister and Minister of Tourism, Investments and Aviation Chester Cooper said during his speech to commemorate the official opening, that the investment by Sterling Global Financial in a new marina for Paradise Island is a “shot in the arm”.

“This is a great day for Paradise Island… it’s a breath of fresh air and it’s a facelift for Paradise Island,” said Cooper.

“These are exciting times for Nassau/Paradise Island. These are exciting times for investment. In our first year in office we have approved more than $6 billion of investments for The Bahamas. 

“And this, of course, is an exciting day for Sterling.” 

Cooper praised Sterling for continuing to develop the $250 million property – which includes restaurants, retail, offices and living space – through the pandemic.

“It was built during the pandemic, so when others saw sickness, doom and despair, Sterling saw opportunity and potential.”

Prime Minister Philip Davis, who also spoke at the event, hailed the development as a downtown district for the island. 

“The entire development has effectively created a downtown district on Paradise Island and includes restaurants, harbor front residences, professional offices, a food store, a wines and spirits retailer and other commercial and retail vendors,” said Davis.

“This boon is bringing excitement to Paradise Island, adding to the convenience for Paradise Island residents and the experience of visitors at hotels and short-term rentals.

“More dining, boating choices, entertainment and convenient services will serve to augment the overall experience of residents and visitors alike.”

Davis said the marina has the potential to become one of the most sought after superyacht marinas in the Caribbean.

He added that he has been told forward bookings for the marina’s slips are strong, and that it will be filled to capacity in the coming months. 

Cooper said there are more new developments for Paradise Island on the way. However, he could not yet say what they are. 

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Chester Robards

Chester Robards rejoined The Nassau Guardian in November 2017 as a senior business reporter. He has covered myriad topics and events for The Nassau Guardian. Education: Florida International University, BS in Journalism

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