The Port Lucaya Marketplace was all abuzz with excitement following the announcement by Prime Minister and Minister of Finance, the Hon. Philip Davis of the Heads of Agreement signing for the redevelopment of the Grand Lucayan Resort.
GRAND BAHAMA, The Bahamas — Cognizant of the hardship they endured over the years to keep their businesses afloat, Prime Minister and Minister of Finance, the Hon. Philip Davis personally delivered the news on May 16, 2025 of the Grand Lucaya Resort redevelopment to the Port Lucaya Marketplace merchants, assuring them that they are at the heart of the project.
“Today, as we mark the signing of the Heads of Agreement (HOA) for the $827 million redevelopment of the Grand Lucayan Resort, I didn’t want to just speak to the numbers or the buildings. I wanted to speak to you. Because you are not a footnote in this development — you are the centre of it,” he said.
“The truth is: no matter how modern the resort, no matter how impressive the hotel rooms or how beautiful the marina — what visitors remember most is the experience. And that experience doesn’t come from a brand name. It comes from people like you — the vendors, the artists, the cooks, the musicians, the guides — who make Grand Bahama what it is.”
Mr. Davis addressed the crowd following the HOA signing and a Junkanoo Rushout from the resort into the Port Lucaya Market Square during a grand celebration marking the occasion.
“I know that it has been a long journey to this moment,” he said. “Not just in weeks or months — but in years. Years of trying to keep your doors open when foot traffic disappeared. Years of paying rent, even when you weren’t sure a tourist would pass by that day. Years of making sacrifices to stay afloat — not because it was easy, but because this place, this marketplace, and this island matter to you.
“I’ve heard the stories. The shop owners who scaled back. The vendors who sold what they could just to buy supplies for another week. The craftspeople who taught themselves to do more with less. The tour operators who drove empty vans, hoping the next day might bring a better one.”
Yet, Prime Minister Davis said, they never gave up.
“That kind of strength cannot be bought. It cannot be borrowed. It comes from something deeper — a belief that this island is worth fighting for, and that your work matters,” he said.
Prime Minister Davis revealed that what is being built just across from the Marketplace will bring more than buildings; it will bring life and thousands of people who will be looking for something real.
Mr. Davis noted that the HOA announcement is a movement to restore economic dignity and real benefits with a project comprising three new hotels, a cruise port, casino, golf course, beach clubs, restaurants and retail spaces, creating over 1,300 jobs during construction and more than 1,700 permanent jobs when fully operational.
He pointed out that the demand for local partnerships, products and services is going to rise.
“That means more opportunities to sell, more visitors walking through this market, more Bahamians being hired to provide tours, transport, entertainment, and authentic experiences,” he said.
“But here’s what’s different this time: we’re not leaving it to chance. We’re making sure that local businesses — your businesses — have access to these opportunities.”
Furthermore, Prime Minister Davis said his government is creating space for small business owners to benefit through procurement, pop-up partnerships, and direct customer flow.
Cognizant that there is still work to do and no one project can solve everything, he asked Bahamians to stay ready for what is to come for Grand Bahama.
“Build. Train. Hire. Collaborate. Improve. Prepare,” he said. “Because I believe this island is turning the corner — and when we do, I want everyone who stayed through the struggle to be standing tall in the success.”
(BIS Photos/Andrew Miller)
