Prime Minister Philip Davis’s Remarks at the GreenPointe Development at Treasure Cay HOA Signing

Posted on September 11, 2024

Ladies and Gentlemen,

Good afternoon. I am pleased to be here with you all to celebrate as we take another significant step in the continued growth and development of The Abacos.

The Bahamas has always been known for its natural beauty, rich history, and tremendous potential for industry. This potential has attracted world-class investments that enhance our tourism product and uplift our communities. This agreement with GreenPointe Holdings LLC to revitalize Treasure Cay represents a turning point for The Abacos and is a welcome initiative that is set to benefit Abaco’s economy— an injection of growth that has been needed in this post-Dorian era.

Treasure Cay has long been an iconic destination and I am excited to see it restored and elevated to an even higher standard. We have remained resolute in our efforts to rebuild and revitalize Abaco. The GreenPointe Redevelopment of Treasure Cay is yet another step on the road to recovery for Abaco’s economy.

GreenPointe Holdings, led by Mr. Edward Burr, aims to revamp Treasure Cay into an exclusive luxury resort and residential area with top-notch facilities and services that stand out globally. This $177 million development, starting with Phase 1, will restore infrastructure, including the marina and harbour. They will also construct new residential units, a hotel, and essential services such as a grocery store—all designed to enhance the lives of both Bahamians and visitors alike.

Investment in Treasure Cay represents more than a financial commitment—it signifies a dedication to the future of The Abacos. The redevelopment efforts are expected to create numerous job opportunities across various sectors including construction, hospitality, and retail – offering long-term and sustainable employment prospects for Abaconians. We are steadfast in our commitment to ensuring that Bahamian workers are prioritized at every stage of this project, and we welcome GreenPointe’s initiative to provide training opportunities for Bahamians and reduce dependence on foreign labour.

It is also crucial to highlight GreenPointe’s commitment to protecting the environment as we move forward with reconstruction efforts. They have pledged to ensure that the project is consistent with the preservation of the island’s most important ecosystems.

And, perhaps most importantly, Bahamian investors will have an opportunity to participate in this project. It is very important to us that Bahamians are able to own their share of this exciting development.

The collaboration between the government of The Bahamas and GreenPointe Holdings goes beyond signing a contract. It signals our joint aspirations for a brighter, more resilient, and prosperous Abaco. We look forward to the positive economic impact this project i projected to have, which includes ongoing revenue streams from hotel and retail operations, and the further development of our tourism sector.

Let’s work together to bring Treasure Cay back to its glory as a symbol of Bahamian beauty and resilience.

Thank you.