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Harcourt plans $400m Bahamas investment
Message was posted: 08:46 Nov 20th, 2007

User: coolrunnings Rank: Casino Gold: 20960CG Contributor rating: 42320 Status: Offline

Harcourt Developments, the property group controlled by businessman Pat Doherty, plans to invest more than $400 million in increasing its presence in the Bahamas. The company plans to scale up its presence in the region after completing the $40 million purchase of a luxury golf resort and hotel complex in Grand Bahama last week. In a statement, the company said that its total investment in the area would be in the region of $400 million. The company said it intended to make a significant capital investment in order to improve the hotel and facilities at the Royal Oasis resort near the town of Freeport. ‘‘When reopened, the resort will bring major benefits to the local area through increased tourism and employment,” said the statement. The Royal Oasis consists of a Crowne Plaza Golf resort and casino. The complex has 965 bedrooms between a main hotel and timeshare units, and also has two golf courses. Harcourt said it was currently finalising a deal with a major international casino and hotel operator to run the resort. Harcourt Developments already has significant interests in the region. It is developing a luxury waterfront condominium complex in Freeport, Grand Bahama, and controls the upmarket Carlisle Bay Hotel in Antigua. It also owns 600 beachfront acres in nearby Tobago. The Sunday Business Post Online