By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

THE government is expected to meet next week to “wrap up” a Heads of Agreement to pave the way for a reported $30 million Four Seasons branded luxury resort development in Eleuthera.

Speaking at the second annual Eleuthera Business Outlook at the Cape Eleuthera Resort & Marina yesterday, Prime Minister Perry Christie said that government was “well advanced” in negotiations with Colombian billionaire Luis Sarmiento’s group and the Four Seasons on the project.

The development is set for Cotton Bay and will reportedly include an 80-room resort, golf course, spa, shopping area, restaurant and bar.

Mr Christie said: “I am am told by my advisors that we will meet again next week with Four Seasons representatives with a view to wrapping up the heads of agreement for approval by the National Economic Council which I chair.”

The Prime Minister noted that the Sarmiento-led development and the adjacent Cotton Bay Estates development, with luxury hotels and two world class golf courses, was a significant investment in South Eleuthera with major economic benefits to follow.

“When you look at the possibilities of two world class golf courses courses next to each other in South Eleuthera with luxury hotels being positioned there and an upscale cottage development being positioned there, there is nothing in the region that can compare in terms of having two major golf courses in the same area.”

Mr Christie noted that Eleuthera’s tourism sector was on an “upswing”.

“From January to December 2013, a total of 249,017 visitors came to Eleuthera. However I feel that we can improve on this number and will improve on this number with the development of a few more resorts on the island,” he said.