MSC, Concord Wilshire Move Forward on Grand Lucayan Redevelopment in Grand Bahama

MSC, Concord Wilshire Move Forward on Grand Lucayan Redevelopment in Grand Bahama

The long-awaited transformation of the Grand Lucayan Resort in Freeport is finally taking shape.

Concord Wilshire Capital, the Miami-based developer that acquired the property roughly a year ago, has signed a definitive agreement with CTL Maritime — the cruise division of MSC Group — to redevelop a key section of the resort into an exclusive destination for MSC Cruises and Explora Journeys guests.

Under the deal, CTL Maritime will take over a 20-acre portion of the Grand Lucayan complex currently occupied by the Reef Village and convert it into a new MSC Beach Club designed to expand the destination portfolios of both MSC Cruises and its luxury Explora Journeys brand.

MSC has also announced plans for a $450 million terminal project on the island.

Demolition has already begun at the property, marking the first significant on-the-ground activity at the long-stalled resort since Concord Wilshire took control of the site.

While specific amenities for the beach club have not yet been detailed, the project is part of a broader, multi-phase redevelopment of the Grand Lucayan footprint. A second cruise resort and a casino marina complex are also planned, with a second Ancient Waters Cruise Resort to be built concurrently and designed to accommodate additional major cruise line passengers. Together, the cruise resort and beach club are expected to bring in over a million guests each year.

The MSC Beach Club represents the latest piece of the cruise line’s nearly $1.5 billion investment in The Bahamas, which also includes the expansion of Freeport Harbor and the ongoing third phase of its Ocean Cay marine reserve.

Bahamas Prime Minister Philip Davis called the agreement “a defining moment for Grand Bahama and the future of our island,” adding that the redevelopment of the Grand Lucayan has long been a national priority.

For Grand Bahama — which has spent years waiting for a credible path forward at the Lucayan property — the MSC partnership signals that one of the Caribbean’s most prominent stalled developments is finally back in motion.