Friday, May 15, 2020

Royal Caribbean's Freeport, Bahamas port project looking for next steps to proceed

By Matt Hochberg

It appears Royal Caribbean's joint venture for port development is looking to discuss timelines with the Bahamian government on the development of a $300 million project in Freeport, Bahamas.

Holistica Destinations CEO Robert Shamosh told Tribune Business it has “secured the required liquidity” for the project.

There was no timeline for when construction or other milestones will occur, but Hollistica was already in talks with banks and other lenders to secure the necessary project financing, according to Mr. Shamosh.

“Holistica Destinations confirms that we remain committed to, and are moving forward with, the proposed development on Grand Bahama. BPI, Holistica’s subsidiary, recently announced it has secured the required liquidity to develop the Grand Bahama project and is currently working with several financial institutions to secure the financing,” the statement added.  Read more >>