$700mil Bahamas Project Breaks Ground
THE BAHAMAS, May 18, 2006. Montana Holdings, under the direction of Chairman John Mittens has announced the official groundbreaking of Rum Cay Resort Marina, a $700 million mixed-use resort development project.
This historic event took place at the future site of the Rum Cay Resort Marina on Rum Cay, Bahamas. The featured keynote speaker at the groundbreaking ceremony was the Rt. Hon. Perry G. Christie, CMG, MP, Prime Minister of The Commonwealth of The Bahamas.
Other dignitaries in attendance were the Hon. Vincent Peet, MP, Minister of Financial Services and Investments, Hon. Bradley Roberts, Minister of Public Works and Utilities, and Philip (Brave) Davis, MP, for Rum Cay, and other senior government officials.
The groundbreaking marked a special day for Rum Cay residents awaiting this exciting development project to commence. Festivities included entertainment by the Royal Bahamas Police Force Pop Band followed by a catered lunch for all invited guests and Rum Cay residents.
Ms. Delores Wilson, prominent resident and business owner, was among featured guest speakers commemorating the groundbreaking ceremonies.
Rum Cay Resort Marina will enhance what is already recognized as one of the region's premier boating, fishing and diving destinations by adding an array of superb amenities, including a mega-yacht marina, a luxury hotel, elegant residential choices, fine dining and shopping, plus spa and fitness facilities to this spectacular natural playground ringed by powder-white beaches.
The development is scheduled for three phases.
Phase I will concentrate on the development of the 80-slip marina, marina village and marina condominiums and marina estates, providing owners access to world-class fishing, diving and boating.
Phase II will center on the luxury hotel and associate amenities, whereas Phase III will complete residential estates as well as expand the marina village.
Expected to be the most distinctive residential resort marina in the region, the developer is also sensitive to the pristine and serene island environment. "We are committed to building Rum Cay Resort Marina with the utmost sensitivity to environmental harmony and ecological balance. We are dedicated to the preservation and conservation of the antiquities and historical relics identified within the development site," states John Mittens, Chairman, Montana Holdings Ltd.
The development of Phase I will be in full swing by September 2006 with the anticipated employment of 300 during peak construction. During Phase II, the luxury hotel will open in 2010. Phase III will complete all residential components with full build-out for the resort by 2016. In all, it is anticipated that up to 400 permanent jobs will be created.
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