The Development Bank of Jamaica has heard from Prime Minster Andrew Holness recently, who stated that the project should continue as it will be a driver of economic growth in the region. The integrated casino resort project includes the creation of a multi-purpose complex in Jamaica that would prove quite useful.
Construction of Harmony Cove is set to begin Phase 1 next year and will be developed in several phases. The first phase will include a hotel with 1,000 guest rooms, space for retailers, food and beverage. $1 billion is set to be spent on the facility. Phase 2 would include the casino portion of the resort.
In total, when Harmony Cove is completed, 5,000 guest rooms will be available on site, a casino gaming floor for entertainment, dining and drinks, a marina, golf courses and other facilities for entertainment will be included. The Development Bank of Jamaica is the owner of the project as well as the National Housing Trust with Harmonisation Ltd. to manage the property.
It was reported by local media that on Friday, the Prime Minister met with the Strategic Planning Retreat for Boards of Directors of Development Bank and stated that the complex will be a major economic growth driver and will help to boost the reputation of Jamaica as an attractive spot for tourism.
Holness stated that Development Bank should take the resort project seriously and decisions should be made in a timely manner so that the project can move ahead. Developers had originally planned on starting construction this year but have now opted for later on next year.
The government of Jamaica decided to provisionally approve the construction of two integrated casino resorts. Harmony Cove earned one of these spots. The other casino is Celebration Jamaica. Each of the venues has to meet requirements set by the government in order to be given casino licensing. Both properties must have 2,000 guest rooms and half this amount have to be completed with the Phase 1 round of construction.