By LEANDRA ROLLE

Tribune Chief Reporter

lrolle@tribunemedia.net

THE Davis administration have signed a Heads of Agreement to construct what officials say will be the “largest” Four Seasons condo hotel in the Caribbean.

Ground will be broken at the hotel by the end of the year.

The development, featuring a luxury 75-unit condo hotel, will be built on a 6.15-acre site on Paradise Island’s Casino Drive, as detailed in the project’s newly released Environmental Impact Assessment (EIA).

It is expected to employ 440 Bahamians during construction and over 200 once operational.

It will involve a capital investment of $275m.

Prime Minister Phillip “Brave” Davis called the signing a milestone in the nation’s journey of growth and progress.

“It reflects the success of the Davis administration’s efforts to create an environment that attracts world-class developments, stimulates investor confidence and paves the way for sustainable growth,” he said.

“Secured through funding by Bank of America, this project is not only a vote of confidence but a commitment to our nation’s future.”

He added that the project will provide a significant economic boost, with officials expecting an infusion of at least $170 million during construction.

“In addition to the economic benefits, this project adds to the narrative of The Bahamas as a world-class destination for luxury and high-end experiences,” he said. “This is a crucial element of our strategy to maintain and grow our position as a leader in the tourism industry.”

He said Four Seasons visitors will enjoy the natural beauty of the islands and experience the best of Bahamian hospitality.

For his part, Tourism Minister Chester Cooper expressed confidence that the Four Seasons property would “fit well into our overall product offering.”

He also emphasised that permanent beach access was non-negotiable, adding: “We are delighted to report that continued beach access for the public will be maintained.”

Access Industries, the existing Ocean Club’s owner, has partnered with Florida-based real estate developer Two Roads Development for the multi-million dollar project.

“This project will set new standards to luxury and we’re here to make that happen for you guys,” said Taylor Collins, managing partner at Two Roads development.