Goldwynn resumes construction on Cable Beach development
EyeWitness News Business May 15, 2020 at 3:30 am Natario McKenzie
NASSAU, BAHAMAS — Following a six week hiatus due to the COVID-19 Emergency Orders, the Goldwynn boutique condo-hotel development and exclusive residence on Cable Beach has resumed construction, putting over 125 Bahamians back to work. Wynn Group’s Vice President, Randy Hart noted that as the pandemic recedes, the developer foresees The Bahamas rebounding better and stronger and the hospitality industry experiencing a resurgence as suppressed global demand is released. Goldwynn is scheduled to open in the Spring of 2022. In a statement, the company said any shadow cast over the industry by the epidemic is expected to have faded. It underscored its opening will coincide with a period of concentrated demand. “Moreover, Goldwynn will be particularly well positioned to benefit from this impending renaissance as the industry trends towards smaller and more exclusive boutique hotel properties,” said Matthew Marco, Executive Director of Sales. “Ever mindful of evolving customer expectations, we are already taking steps to adapt our hospitality model to better align with the emphasis on hygiene, on-line platforms and reduced customer interactions.” Marco said: “As continued uncertainty and instability pervades the globe, I believe the Bahamas stature as a safe-haven destination for world’s affluent only stands to be accentuated. The desire for refuge from the world’s congested and turbulent metropoles will be a harbinger of formidable demand in secondary home ownership market and Permanent Residency applications within our shores.” According to Hart, Goldwynn has experienced consistent interest for their properties throughout the pandemic and it is anticipated that the reopening of LPIA to international flights will be the catalyst for a robust rebound in the real estate market. The Wynn Group will look to and encourage Government to capitalize on The Bahamas’ unique strengths as a sanctuary for the affluent with welcoming policies that further facilitate and encourage residency and foreign home ownership as a key driver of renewed prosperity.