By Fay Simmons

Tribune Business Reporter

jsimmons@tribunemedia.net

Prime Minister Philip Davis KC yesterday failed to confirm whether the Government has received the full $120m purchase price from Concord Wilshire to acquire the Grand Lucayan resort.

When asked if funds have been exchanged for the transaction, Mr Davis said there is an arrangement and a deal in place, so the public should “wait and see”. Stating that he did not see the need to “get into these details”, he added that for years nothing happened with Grand Bahama-based resort and, now that progress is being made, it is important to “work together” instead of asking questions.

“Look, I don’t need to… We have a project. We have an arrangement and a deal, wait and see. I don’t need to get into these details. Instead of us coming together to ensure that this project is successful, why just stand back or criticise? But for years, nothing has happened. Something is about to happen. Let us work together to see that this happens, instead of asking these questions,” said Mr Davis.

He added that the inquiries are aiming to put out “political fodder”, and he is currently trying to ensure the project is successful and Grand Bahama residents benefit from it.

“That really is only about trying to get political fodder out there to talk about. I’m not about that now. I’m about trying to ensure that this project succeeds and that the Bahamian people, and particularly the Grand Bahamian people, benefit from it,” said Mr Davis.

Opposition Leader Michael Pintard advised that the FNM has pressed the Davis administration to provide briefings on the agreement’s details, timeline and anticipated impact to ensure the public is informed of the specifics surrounding the sale of a “major public asset”.

In a statement, Mr Pintard said that while the FNM “welcomes any credible progress” towards Grand Bahama’s economic recovery, the details of the arrangement should be transparent.

“The Free National Movement welcomes any credible progress toward the redevelopment of the Grand Lucayan and the economic revitalisation of Grand Bahama. We recognise that this represents movement on the long-standing effort to revitalise Grand Bahama’s economy, an objective we all share,” said Mr Pintard.

“The Free National Movement has long supported responsible investment that delivers tangible benefits to the Bahamian people, creating meaningful opportunities, strengthening local businesses and contributing to sustainable national growth.

“We believe the successful redevelopment of the Grand Lucayan has the potential to do just that. Where such development is pursued transparently and in the public interest, we stand ready to collaborate in moving it forward,” said Mr Pintard.

“In that spirit, we have formally written to both the Prime Minister and the developer, Ancient Waters Bahamas Ltd (Concord Wilshire), to request briefings on the agreement’s details, timeline and anticipated impact. While the public has been made aware of broad project ambitions, there remain important aspects of the transaction that have yet to be clarified.

“We believe the Bahamian people have a right to be informed on the specifics of a development of this magnitude, particularly as it concerns the sale of a major public asset and the future of a critical economic centre.”