**Miami-Based Concord Wilshire Capital Acquires Grand Lucayan Resort, Plans $827M Redevelopment**
Concord Wilshire Capital (CWC), a Miami-based real estate development and construction firm specializing in residential, resort, and mixed-use properties, has acquired the Grand Lucayan Resort in The Bahamas from the Bahamian government. The purchase includes the 56-acre beachfront resort and the adjacent 160-acre Reef Golf Course, with a transaction value of $120 million.
CWC has announced ambitious redevelopment plans, forming strategic partnerships with several global brands to transform the property into a premier mixed-use destination. The redevelopment, estimated at approximately $827 million, will feature:
– A 36-acre cruise ship destination resort with the capacity to accommodate up to 10,000 cruise ship passengers daily, accessible to all cruise lines.
– A 25,000-square-foot indoor and poolside casino.
– A branded hotel and residential development offering 350 hotel keys and 120 residential and timeshare units.
– A newly designed 160-acre Greg Norman Championship Signature Golf Course.
– An 18-slip mega yacht marina.
The vision for the Grand Lucayan Resort project aims to revitalize the site into a walkable, vibrant village and luxury vacation hub, contributing to the region’s tourism economy and creating new opportunities in real estate, entertainment, and hospitality.
