Dublin-based Harcourt Developments acquired the Royal Oasis on Grand Bahama Island in November 2007 and the company states that the property, which is located on 172 hectares of tropical gardens and is one of the largest resorts on the island, is currently being upgraded. However, some people are beginning to wonder why six months have passed and so far the renovation of the 1000-room hotel casino, which closed in 2004, has not begun.

One reason could be that the company has other priorities at present, such as defending itself in lawsuits. Harcourt Developments is being sued in Ireland over the Esplanade Quarter project in Jersey. Three Irish businessmen have named Harcourt Developments and director Pat Doherty in a dispute over an alleged partnership said to involve the Jersey Waterfront development company, Island Developments. Press are now calling this the ‘Waterfront scandal’.

In Las Vegas Harcourt is seeking to dismiss a lawsuit filed against it and Pat Doherty that claims the company failed to perform under a contractual agreement to finance up to US$800 million for the Sullivan Square project. The Government of Jersey has delayed approval for the Esplanade Quarter development following the Sullivan Square lawsuit being belatedly revealed. Sullivan Square was a 1,300-unit luxury residential-over-retail project at Durango Drive and Interstate 215 in Las Vegas that is now unlikely to be completed.

Small wonder that the Royal Oasis project is on the back burner at present, but this will be little comfort to the residents of Grand Bahama who were promised so much, including the employment of around 1,000 people in the refurbishment and operation of the resort and revitalised business opportunities at the adjacent International Bazaar. Local residents are still awaiting the anticipated influx of tourists to the area and subsequent economic boost to the economy. As things stand, they may have a long wait.
(E-06.19.08)

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