On May 15, 2025, a landmark moment unfolded in Freeport, Grand Bahama: the government of The Bahamas signed a transformative agreement with U.S.-based developer Concord Wilshire. More than just the sale of the Grand Lucayan resort, this deal represents a bold vision for the island’s future—a plan to reposition Grand Bahama as a world-class tourism and investment destination.
The redevelopment of the Grand Lucayan is more than a facelift—it’s a full-scale reset. Backed by a staggering $827 million investment, this project is set to reshape the local economy, attract global visitors, and create tangible opportunities for investors, entrepreneurs, and anyone dreaming of life in The Bahamas. For a region long searching for a comeback story, this could be the defining chapter.
At the heart of this transformative project is a signed Heads of Agreement between the Government of The Bahamas and Concord Wilshire, a seasoned real estate developer based in Miami. The deal includes the acquisition of the iconic Grand Lucayan resort in Freeport for $120 million USD, but that's just the beginning of a far-reaching redevelopment effort.
The agreement outlines not just a change in ownership, but a commitment to a comprehensive revitalization of the entire Grand Lucayan property. Over the next several years, Concord Wilshire plans to invest more than $827 million into creating a cutting-edge resort ecosystem that integrates entertainment, luxury hospitality, marina facilities, and residential experiences.
Key points from the agreement include:
- Full redevelopment of the existing resort grounds, totaling over 35 hectares (86 acres).
- Integration with existing infrastructure such as the Port Lucaya Marketplace, ensuring the revitalization benefits local businesses.
- Government support through strategic partnerships and incentives to facilitate construction and job creation.
For those interested in understanding how such large-scale investments align with local and international financial strategies, our breakdown of the CPH Investment Group business model offers valuable insight into how these opportunities are structured and capitalized. Read more here.
The redevelopment of the Grand Lucayan isn’t just a facelift—it’s a visionary transformation that aims to turn Grand Bahama into a premier global tourism and investment destination. With over $827 million allocated to the project, Concord Wilshire’s master plan reads like a blueprint for an entirely new Freeport.
Here are the most exciting components of the redevelopment:
Cruise Resort on 35 Hectares: A flagship feature of the plan is a state-of-the-art cruise resort complex, spanning 35 hectares. Designed to serve as a major hub for Caribbean cruises, it will integrate luxury lodging, entertainment, and day-pass offerings to cruise passengers, generating substantial foot traffic and international visibility.
Marina with 16 Mega-Yacht Berths: The new marina is set to include 16 slips for mega-yachts, putting Grand Bahama on the map for high-net-worth individuals. This segment of the market brings not only tourism revenue, but also secondary spending in real estate, shopping, and local services.
25,000 Sq. Ft. Casino (Indoor & Outdoor): A 25,000-square-foot casino will blend indoor and open-air gaming experiences. Casinos have historically driven footfall and overnight stays, particularly when paired with entertainment and luxury accommodations. This facility is expected to become a major draw for regional and international visitors.
Port Lucaya Marketplace Integration: Rather than competing with existing infrastructure, the plan emphasizes integration. The Port Lucaya Marketplace, known for its vibrant mix of local vendors, shops, and eateries, will be revitalized and linked directly to the new development, preserving local culture and driving business for Bahamian entrepreneurs.
Multi-Hotel Strategy: The project includes multiple hotel developments designed to serve a wide range of travelers:
- Casino-focused hotels
- Golf-centric resorts
- Marina-side luxury lodgings
- Timeshare and fractional ownership opportunities
If you’re curious about what these developments mean for buyers, our guide on real estate in the Bahamas offers key insights into property types, legal structures, and strategic investment zones on the islands.
The economic ripple effect of the Grand Lucayan redevelopment cannot be overstated. During the construction phase alone, over 1,300 new jobs are expected to be created across engineering, hospitality, logistics, and local services. Once complete, the resort complex will support more than 1,750 permanent jobs in areas like management, guest services, maintenance, and entertainment.
Beyond employment, the redevelopment will drive major improvements in infrastructure, including roads, utilities, and public spaces. This will directly benefit residents and create new opportunities for business creation and entrepreneurship.
Investors will also find a fertile environment: Freeport’s unique tax advantages, strategic geographic position, and growing international profile make it a compelling choice for real estate acquisition and business expansion.
Despite the optimism, not everything is smooth sailing. Two American businessmen, Joseph Brown and Howard Babcock, have filed a lawsuit against Concord Wilshire. Their claim? That they played a key role in initiating the deal and were unjustly excluded from its finalization.
While the legal outcome remains uncertain, the Bahamian government has not signaled any intention to slow or pause the project. Most observers view the lawsuit as a side issue unlikely to derail progress. Still, it’s a reminder that high-profile developments come with complex stakeholder dynamics.
Over the past two decades, Grand Bahama has witnessed its share of grand announcements that ultimately fizzled. But this time, things are different.
Here’s why:
A formal Heads of Agreement has been signed and made public.
Funding commitments are backed by an experienced U.S. developer.
Government buy-in includes clear timelines and stated objectives.
Most importantly, the Concord Wilshire team has a proven track record of executing luxury, mixed-use developments. Combined with the government’s push for economic revitalization, this partnership holds real weight—and momentum.
As someone who lives and works locally, I can confidently say: this isn’t hype. It’s a turning point.
If you’ve ever considered investing, relocating, or starting a business in the Caribbean, this is your moment. The Grand Lucayan redevelopment opens the door to a range of opportunities:
Buy real estate in a location poised for massive appreciation.
Start or expand a business in tourism, hospitality, or services.
Establish tax-efficient residency in The Bahamas through property ownership or investment.
Participate in fractional ownership or development partnerships that offer passive income potential.
With the groundwork being laid now, early movers will be positioned for maximum upside.
At CPH Investment Group, we’re not just reporting the news—we’re shaping it. As experienced advisors based right here in Grand Bahama, we offer personalized, boots-on-the-ground guidance to help you navigate this once-in-a-generation opportunity.
We assist with:
Real estate scouting and acquisition
Business incorporation and strategy
Legal and residency structuring
Risk analysis and compliance
👉 Ready to explore your investment options? Book your personal strategy session today or use the orange WhatsApp button on our site to connect with me directly.
Let’s turn this moment into your opportunity.