The government is attempting to re-engage with Lyford Cay billionaire Dikran Izmirlian to get his proposed $1 billion investment for Cable Beach back on track, sources have told The Tribune, with a number of alternative offers now also before the Cabinet.
The government’s eagerness to revive the moribund economy and to remove the perception that it has achieved very little in the first two years are likely to be among factors that have driven it to attempt a rapprochement with the Izmirlian Group. “They certainly need to do something very soon,” one source said.
The Tribune revealed earlier this year how Mr. Izmirlian, the Swiss-Armenian billionaire who made his fortune through property developments and real estate holdings, and his group withdrew their offer after becoming increasingly desenchanted by what they saw as “footdragging” and the government’s apparent inability to reach a decision on approving the venture.
Source: Neil Hartnell, The Tribune
