business@tribunemedia.net
MONDAY, MAY 19, 2025
$5.45 $4.75
Pintard wants transparency on Grand Lucayan deal t '/. T QPTJUJPO PO SFTQPOTJCMF USBOTQBSFOU JOWFTUNFOU t 0QQPTJUJPO EFNBOET GVMM EJTDMPTVSF PG BHSFFNFOU EFUBJMT By FAY SIMMONS Tribune Business Reporter jsimmons@trribunemedia.net OPPOSITION leader Michael Pintard yesterday advised the FNM has pressed the Davis administration to provide more details of the agreement behind the sale of the Grand Lucayan resort and its surrounding property for $120m to Ancient Waters Bahamas Limited, a Bahamian subsidiary of US-based Concord Wilshire Capital (CWC). In a statement yesterday, Mr Pintard said while the FNM “welcomes any credible progress” towards Grand Bahama’s economic recovery the details of the arrangement should be transparent.
MICHAEL PINTARD “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 longstanding effort to revitalise
SEE PAGE B3
$5.46
$5.55
$5.40
Sandals properties listed for auction ‘by mistake’ By FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net SANDALS is disputing the addition of five of its Exuma properties to the Department of Inland Revenue’s (DIR) latest auction listing - which appears to have been done by mistake. The resort issued a statement noting that the properties were listed due to “inaccurate records” by DIR and the mistake will be rectified by the department. “We are aware of recent media reports suggesting that private properties owned by Sandals in Exuma are slated for auction. We wish to state categorically that is an error stemming from inaccurate records at the Bahamas Department of
t . UBY EJTQVUF PWFS VOEFS SFQPSUFE SFWFOVF t %*3 BVEJU BMMFHFT . JO VOSFQPSUFE HSPTT JODPNF t $PSQPSBUF TUSVDUVSF BU IFBSU PG SFWFOVF SFQPSUJOH EJTQVUF
SANDALS ROYAL BAHAMIAN Inland Revenue,” said Sandals. “We have been assured that the mistake will be rectified and no bids for these properties will be
accepted by the Department of Inland Revenue.” The company said it remains “fully committed” to the country and will
continue to “invest heavily” in the region. “Sandals remains fully committed to The Bahamas. We continue to invest heavily in the region and look forward to building on our long-standing partnership.” The Department of Inland Revenue began exercising its power of sale under section 25 (a) of the Real Property Tax last year in a bid to recover more than $700m in delinquent real property tax arrears. It is using the lien, or charge, it has over these properties to sell them via a public auction on June 24, 2025. Among the properties listed for sale in the notice published on May 12, 2025, are five properties in Exuma all labelled as “Farmers Hill, Sandals Beach Units”. The values of the parcels range from
SEE PAGE B5
GB Shipyard targets new floating dock this year By DENISE MAYCOCK Tribune Freeport Reporter dmaycock@tribunemedia.net THE Grand Bahama Shipyard is anticipating the arrival of a new floating dock later this year, as part of a multi-million-dollar expansion project. Chris Earl, the new CEO, said the immediate focus is to get the dock ready for the arrival of its first ship, which is scheduled for repair at the facility in January 2026. To develop more skilled Bahamians, the shipyard has overhauled its apprenticeship programme and has partnered with a UK training institution to provide training.
On Thursday, the company sent off 20 young apprentices for intensive training in Liverpool. Mr Earl said the apprentices have been split into four main trades in the shipyard. “They will get handson training from a world-renowned school, and they will bring that training to the shipyard where they will start working with employees to refine those skills.” On completion of the four-year programme, Mr Earl said the apprentices will be fully qualified in their trade. Under the new programme, some 16
SEE PAGE B3
Park vendors hope to secure lower fees BY ANNELIA NIXON Tribune Business Reporter anixon@tribunemedia.net THE RM Bailey Park and Allied Vendors Association plans to fight against fees imposed on vendors by the Bahamas Public Parks and Public Beaches Authority. Having to pay $110 as a vendor utilising RM Bailey Park, association president Karen Brown said the fees are too high and she plans to fight to have the cost lowered. Even with the allowance of weekend vending, Ms Brown argued the fees are still excessive. Ms Brown said vendors
are tasked with paying for their use of the park as well as seasonal garbage disposal and security services. She also commended the Bahamas Public Parks and Public Beaches Authority for cracking down on vendors who weren’t paying their fees. “So everybody now has to pay amenities fees,” Ms Brown said. “So now you have the people who never used to pay, now they are beginning to make noise because they are saying, now they have to pay $110, plus whatever the fee is. Now we do security. To make it cheaper, we only
SEE PAGE B4