business@tribunemedia.net
Wednesday, February 11, 2026
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Gov’t approves $35m Berry Islands revival BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A US investor yesterday confirmed the Government has provided all approvals for his $35m acquisition that promises to revive the Berry Islands’ Great Harbour Cay destination after 50 years of economic stagnation. Matt O’Hayer, who already owns all or part of three nearby cays, told Tribune Business that it was “a real privilege and honour” that the Davis administration has paved the way for himself, and his Vital Shores LLC company, to close the purchase of Great Harbour Cay’s resort, marina and golf course from long-standing owners, the Fender family. The issuance of the necessary government approvals was revealed in the Central Bank’s December 2025 monthly economic briefing. Drawing on information provided by the Bahamas Investment Authority (BIA), the banking regulator reported: “Vital Shores LLC received approval to acquire various parcels of land that comprise the Great Harbour Cay
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Governance reformer: Fighting corruption will cut cost of living ORG chief argues will cut waste and drive investment Bahamas falls one rank, matches US in corruption index Urges voters: Tell MP candidates battle must be ‘priority’ BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
GREAT HARBOUR CAY MARINA
US investor confirms goahead for Great Harbour Cay deal
Purchase of Fender resort, marina, other assets yet to close
Royal Caribbean visitors set to tour buyer’s nearby island
Resort, marina and golf course for $35m.” Mr O’Hayer, confirming that this information is accurate, told this newspaper: “I will confirm I have got those approvals and
the Government has been very helpful in getting those approvals at every stage. “I feel like it’s a real privilege and honour, and I am one of the luckiest guys
on the planet to do this and work with the island community. I’m really lucky to be here, and feel fantastic to be doing what
‘Last shot’ for regulating construction profession BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE BAHAMIAN Contractors Association’s (BCA) president yesterday said the launch of a public petition is the industry’s “last shot” to persuade the Government LEONARD SANDS to initiate regulatory oversight of the construction industry prior to the upcoming general election. Leonard Sands told Tribune Business that the petition, urging the Davis administration to finally make good on promises to appoint the Construction Contractors Board, and give effect to proper supervision of the Bahamian building industry, is the BCA’s last attempt to make the issue “front and centre” before policy-related issues are overtaken by political battles. He added that the typical refrain of administrations, that they will “deal with it in the next term”, is “not good for us” because the BCA and Bahamian contractors heard exactly the same pledge five years ago and, before that, ten years ago but each time such promises go unfulfiled during an election cycle. “I think we came to a decision with that having got the commitment from the Prime Minister,” Mr Sands told this newspaper of the petition. “In good faith we have been working on having the Board appointed since this administration came to office. While we believe some parts of the administration would
SIGN - See Page B5
PERMISSION - See Page B4
Resolving Perpall Tract floods set to cost $5.7m BY NEIL HARTNELL and Fay Simmons Tribune Business Reporters A $5.7m investment is needed to solve flooding and poor drainage in the 350-acre Perpall Tract and east Grove area of northern New Providence, an engineering study is estimating, with the planned new hospital not adding to these woes. The Caribbean Civil Group’s January 2026 report, which was tabled in the House of Assembly last week alongside other
studies and documents related to the second New Providence hospital, confidently asserted that the proposed 50-acre medical facility will not worsen flooding for nearby residents and communities because it will have its own, separate rainfall management system and site run-off. The findings, which the Government is likely hoping will resolve residents’ concerns over the new hospital’s location, were released just ahead of last
night’s public consultation over the Davis administration’s plans to invest $30m in developing the 147-home affordable housing subdivision, Premier Estates One, in close proximity within the Perpall Tract area. Some cynics have already branded it a “second Pinewood Gardens” due to flooding fears. However, the Caribbean Civil Group study reassured that the second New Providence hospital will not exacerbate existing flooding and drainage issues. “A new hospital facility is currently under development within the immediate vicinity of the Perpall Tract drainage corridor. Given the scale and critical function of the facility, the project includes its own
Frustrated Mayaguana residents promised Gov’t pay ‘next week’ BY FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net THE Progressive Liberal Party’s (PLP) newly-confirmed election candidate yesterday promised frustrated Mayaguana residents that long-delayed payments from the Government will be made next week. Ronnell Armbrister, who is seeking the MICAL seat, in a message to Mayaguana residents said that while an exact payment date cannot be disclosed for security reasons the funds are expected to arrive on the island next week “You can expect the funds to be on the island next week. For security purposes, an exact date cannot be disclosed,” said Ms Armbrister. Mayaguana residents, though, have voiced their frustration over repeated delays in receiving payments. In a recent video, a resident claimed they have yet to receive
GOVERNANCE reformers yesterday argued that fully implementing and resourcing anti-corruption measures will help ease The Bahamas’ cost of living pressures after this nation slipped one place in Transparency International’s annual Corruption Perceptions Index. Matt Aubry, the Organisation for Responsible Governance’s (ORG) executive director, directly countered Prime Minister Philip Davis previous assertion that he is prioritising the cost of living fight over initiatives such as the Freedom of Information Act by advocating that “greater investment and risk taking” occur when graft is believed to be in check. He told Tribune Business that properly funding and staffing the bodies to enforce such laws,
payment for January and questioned when the Government will introduce a system that meets the needs of Mayaguana residents, describing the situation as unacceptable and “ridiculous”. “We are at this point again for non-payment of funds for January 2026. December was a very long month. Now January has come and passed, and we are still waiting on our payments in Mayaguana,” she said. “School children need to be fed. Families have needs. Everybody has bills. When is this system going to get right for the citizens of Mayaguana in terms of payment? This is ridiculous.” She highlighted that a lunch vendor has not been paid in “months”, while grocery store owners have not received food coupon funds since December. “The issue with the money and with us getting paid: We understand
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MATT AUBRY including the Public Procurement Board, Office of the Ombudsman and Independent Commission of Investigations, will also help to curb public sector “wastage”, freeing up funds for critical public services such as education and health, and develop an “opportunity” culture that encourages more small
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fully-engineered stormwater management system designed to retain and control run-off entirely within the hospital site.” The report said the second New Providence hospital will have its own on-site stormwater “detention and storage infrastructure” featuring “controlled discharge systems” that will restrict peak rainwater flows to pre-construction conditions. The site will also be graded to prevent water flowing off, while there will also be a “self-contained drainage network that does not drain toward, nor rely on, the Perpall Tract open channels, culverts or retention pond”.
WATER - See Page B5