Categorized | National News

Govt Desires Sale for Royal Oasis

Minister of State for Grand Bahama Kwasi Thompson expressed the government’s desire for a sale or injection of capital for the Royal Oasis property during a meeting with Harcourt Development Company yesterday.

Thompson met with the principals of Harcourt Development Company, who are the owners of the Royal Oasis resort, where he expressed the government’s dissatisfaction with the resort’s situation and made it clear that “the staus quo cannot remain the same.”

“I confirmed to them that this was a new government whose mandate was for change which included the Royal Oasis property,” Thompson said.

“I communicated our distress and our strong desire to see a sale or injection of capital for development.”

Thompson explained that Harcourt has also expressed their commitment to their investment in Grand Bahama and a desire to see the development move forward.

“The government will be aggressive and proactive with its approach in this situation,” he said.

The Royal Oasis closed in 2004 and had a major impact on Grand Bahama’s economy.

Jack Grobowsky, president of the Freeport Resort and Club, told The Bahama Journal in 2015 that the Grand Bahama Port Authority (GBPA), the government and the owners of the Royal Oasis Hotel contributed to the destruction of Grand Bahama’s economy.

Grobowsky said Property Group Harcourt Developments is a major violator of obligations that were not enforced by the government and the Grand Bahama Port Authority.

Harcourt is accused of being a major contributor to the negative impact on Grand Bahama’s economy which totals approximately $428 million in economic damages.

“Royal Oasis failures have proven to be the single most damaging issue to Grand Bahama Island’s economic growth,” Grobowsky said.

Written by Jones Bahamas

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