The redevelopment of Prospect Reef is moving forward, with a developer expected to be identified by early 2027. Premier and Minister of Finance Dr Natalio Wheatley announced this in the House of Assembly, stating that the Government is preparing to issue a request for proposals to shortlisted investors.
A land issue that previously slowed progress has been resolved, with the land being transferred from the Government to the Prospect Reef Management Company.
The objective is to create a high-quality hotel with conference facilities, serving the tourism, legal, financial services, and business travel sectors.