GreenPointe Holdings Ltd.  has signed an agreement with the government to restore Treasure Cay which was damaged by Hurricane Dorian.

A signing ceremony was held at the Office of the Prime Minister on Wednesday.  Prime Minister, the Hon. Philip Davis said, “this agreement with GreenPointe Holdings Ltd.  LSC to revitalize Treasure Cay represents a turning point for the Abacos and is a welcomed initiative that is set to benefit Abaco’s economy, an injection of growth that has been needed in the post Dorian era.”

GreenPointe Chief Executive Officer, Edward Burr has been a resident of Treasure Cay since 2005 and a visitor since the 1990s.  “It’s a special place in our heart and our company is dedicated to making it a special place, restoring that great history that it once had,” he said.

Prime Minister Davis also revealed what is expected during the various stages of development.  He said, “this $177 million development starting with phase one will restore infrastructure including the marina and harbour.  They will also construct new residential units, a hotel and essential services such as a grocery store all designed to enhance the lives of both Bahamians and visitors alike.”

Mr. Davis emphasized that the government is steadfast its commitment to ensure that Bahamian workers are prioritized during the development and welcomed GreenPointe’s plans to provide training.