By ANNELIA NIXON

Tribune Business Reporter

anixon@tribunemedia.net

An Island Luck co-founder yesterday moved one step closer to realising his Cable Beach resort ambitions by signing a Heads of Agreement for a $300m project billed as creating up to 1,000 permanent jobs.

Adrian Fox, and his Fox Group of Companies, confirmed plans to develop the former Cable Beach Manor apartments immediately to the west of Sandals Royal Bahamian into a mixed-use resort complex plus transform part of nearby Balmoral Island into “a recreational paradise” featuring a 100-slip marina, 23 land and over-water cottages, helipad and seaplane docking facilities.

Adrianna Fox, Mr Fox’s daughter, said the project has been two years in the making. However, Mr Fox had revealed to Tribune Business in October 2021 his desire to transform the former Cable Beach Manor site into a $100m European-style boutique resort that would create 300 full-time jobs - a number that seems to have significantly increased.

Prime Minister Phillip Davis KC, speaking at the two parties’ Heads of Agreement signing, said the Voir Beach project will feature “world-class amenities”. While he said estimated around 500 Bahamians would benefit from employment during the construction phase, Ms Fox said more than 1,000 will be hired for this aspect, while between 700 and 1,000 permanent jobs will be provided after completion.

“It calls for two 14-storey mixed-use buildings which will blend residential and hotel spaces with world class amenities,” Mr Davis said. “Guests and residents will enjoy restaurants, roof-top pools, a recording studio, a nightclub, a spa and a seaside bar, and jetty offering a fusion of leisure and luxury.

“Meanwhile, Balmoral Island will be transformed into a premier recreational paradise. That property will feature three clubhouses, each seating up to 500 guests, 23 land and over water cottages, a 100-slip marina, three pools, a performance area and entertainment stage, and a helipad and seaplane docking facilities.”

Ms Fox added: “This is a project that we started almost two years ago. With this project, we decided to invest in creating a new luxury brand resort and residence hotel on the Cable Beach strip. And also, like Mr Davis said, on Balmoral Island, Discovery Island, a  lease of 16.35 acres of land.

“We’re going to put marine encounters, adventures, activities, zip-lining, beach club. And with us doing this project, we will be able to, you know, have over 1,000 jobs in construction and also after construction, 700 to 1,000 employees to do this.”

Mr Fox and his group are aiming to break ground on Balmoral Island within four months, and are aiming to have “something” on the island by June or July. Ms Fox said she expects the residential and resort project to take 30 to 36 months to complete. She said drawings are being prepared, and they are looking to break ground on the residence and resort aspects in “early February 2026”.

“When we say groundbreaking for Balmoral Island, we want to try and start ground-breaking in the next four months. So Balmoral Island has structure and, just depending on our... approvals and studies, we have the schematic drawings, we have this concept, but we want to probably have something started for Balmoral Island in four months,” Ms Fox said.

“We think the project completion is going to take at least 30 to 36 months when it comes to the resort and residential side of it. But Balmoral Island will be up and running, I think, by early June. We’re going to have some type of feature on that island by June, even if it’s just marine encounters and zip lining. But something will be on Balmoral Island by June, July. When we say breaking ground, we’re talking about the resident resort side of it.

“We are in the phase now of receiving our conceptual drawings and our schematic drawings, and want to break ground [there in] early February 2026. We have done our studies. We are ensuring that environmental studies are all approved, permits approved. And we want to bring something different for the Bahamian people,” she added.

“We’ve travelled a lot and we’ve seen where there’s a lot of tourism that comes to The Bahamas. Over 10 million persons that probably came here last year, and what’s there for them to do? So with us travelling, we decided to create a fun beach island where persons are able to enjoy the marine, enjoy zip lining.

“Our second phase will be the bungalows, over-water bungalows. But we decided to do this project to show the Bahamian people that it is possible for other Bahamians to become successful and invest in their country. Us in The Bahamas. I think the Fox brand has always showed commitment to the Bahamian people that we want to be philanthropists, and also showed persons that entrepreneurship is not limited to anybody. And I think with this government, it supported us in getting the job done,” Ms Fox continued.

“So far we have started our environmental studies. We’re still in the process of completing them, but they should be completed probably in the next two months to three months. But like we said, there’s phases. So when it comes to the over-water bungalows, all of these things will take different studies. So as soon as each study is completed, that makes us finalise our final project.”

Mr Fox said acquiring the former Cable Beach Manor site had cost $15m. He added that the Balmoral Island side will likely require a $30m to $40m investment, and it is leasing part of that island for 21 years from the Government.

“The property costs, it’s about $15m,” Mr Fox said. “That’s for the property to buy the land. Construction cost is about 300,000 square foot of building, probably at $400 a square foot. And then the island is a lease from the Government for 21 years. And we haven’t decided exactly what phase we’re going to start with first, and that could be about, about a $30m to $40m investment over there.

“So we also know to build the high rise we need a lot of employees. I don’t know if we have that much employees in The Bahamas, but we’ll go after the Bahamians first. We’ll deal with Bahamian companies. Whoever we give the job to, if they bring in other people to help them out, then that’s up to them. But we are a group of companies who believe in Bahamians first and we’re going to give the jobs to the Bahamians first.”