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Grand Lucayan Resort Acquired by Concord Wilshire Capital for $120M: $827M Redevelopment Plan Unveiled

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Freeport, Grand Bahama – May 2025 — In a transformative move for Bahamian tourism, Concord Wilshire Capital (CWC) has officially acquired the Grand Lucayan Resort and adjacent Reef Golf Course for $120 million, setting the stage for a sweeping $827 million redevelopment of the iconic site into a world-class, mixed-use destination.

A Visionary Plan for a Next-Gen Resort Destination

CWC’s ambitious redevelopment blueprint spans 56 beachfront acres and aims to deliver a dynamic, walkable resort village that redefines the tourism and lifestyle experience on Grand Bahama Island. The newly envisioned project includes:

  • A 36-acre cruise port with a daily capacity of 10,000 passengers, welcoming all major cruise lines.

  • A 25,000-square-foot standalone casino offering premium gaming and entertainment.

  • A 350-key branded hotel complemented by 120 residential and timeshare units.

  • A championship Greg Norman-designed golf course.

  • A state-of-the-art marina integrating with existing nautical assets.

Integration with Local Assets and Community Focus

A hallmark of the project is its integration with local infrastructure. CWC, in collaboration with Bahamaland Investments, will incorporate nearby destinations such as the Port Lucaya Marina, Grand Bahama Yacht Club, and the 120,000-square-foot Port Lucaya Marketplace into the broader resort ecosystem, creating a seamless visitor experience and supporting the regional economy.

Importantly, CWC has committed to retaining the resort's current employees, ensuring job continuity during the demolition and construction phase, which is set to begin shortly. The redevelopment is projected to generate a wide range of new employment opportunities, spanning skilled trades, technology, hospitality, and logistics.

Boosting Sustainable Tourism and Economic Development

This monumental investment aligns with the Bahamas Government’s strategy to attract sustainable, long-term investment and diversify the tourism sector. Officials praised the acquisition at a signing ceremony held on May 14, citing it as a cornerstone for revitalizing Grand Bahama’s economic landscape.

The Grand Lucayan initiative follows on the heels of similar successful projects, such as Baha Mar’s expansion in Nassau, reflecting a broader trend of luxury tourism developments across the Bahamian archipelago.

Why This Matters

  • Economic Impact: A projected $827 million in capital investment will significantly boost local GDP and employment.

  • Tourism Appeal: The resort’s integration with cruise and marine infrastructure aims to increase tourist flow and duration of stay.

  • Community Benefit: Job retention and long-term opportunities for Bahamians remain a core priority.

With construction set to begin soon, the Grand Lucayan redevelopment marks a bold new chapter for Grand Bahama—poised to become one of the premier travel, leisure, and investment destinations in the Caribbean.

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