$700mn Bahamas project breaks ground

18th May 2006

Montana Holdings,
under the direction of Chairman John Mittens has announced the official
groundbreaking of Rum Cay Resort Marina, a $700 million mixed-use resort
development project.This historic event took place at the future site of the Rum Cay Resort
Marina on Rum Cay, Bahamas. The featured keynote speaker at the
groundbreaking ceremony was the Rt. Hon. Perry G. Christie, CMG, MP, Prime
Minister of The Commonwealth of The Bahamas. Other dignitaries in
attendance were the Hon. Vincent Peet, MP, Minister of Financial Services
and Investments, Hon. Bradley Roberts, Minister of Public Works and
Utilities, and Philip (Brave) Davis, MP, for Rum Cay, and other senior
government officials.
  The groundbreaking marked a special day for Rum Cay residents awaiting
this exciting development project to commence. Festivities included
entertainment by the Royal Bahamas Police Force Pop Band followed by a
catered lunch for all invited guests and Rum Cay residents.
  Ms. Delores Wilson, prominent resident and business owner, was among
featured guest speakers commemorating the groundbreaking ceremonies.
  Rum Cay Resort Marina will enhance what is already recognized as one of
the region’s premier boating, fishing and diving destinations by adding an
array of superb amenities, including a mega-yacht marina, a luxury hotel,
elegant residential choices, fine dining and shopping, plus spa and fitness
facilities to this spectacular natural playground ringed by powder-white
  The development is scheduled for three phases. Phase I will concentrate
on the development of the 80-slip marina, marina village and marina
condominiums and marina estates, providing owners access to world-class
fishing, diving and boating. Phase II will center on the luxury hotel and
associate amenities, whereas Phase III will complete residential estates as
well as expand the marina village.
  Expected to be the most distinctive residential resort marina in the
region, the developer is also sensitive to the pristine and serene island
environment. “We are committed to building Rum Cay Resort Marina with the
utmost sensitivity to environmental harmony and ecological balance. We are
dedicated to the preservation and conservation of the antiquities and
historical relics identified within the development site,” states John
Mittens, Chairman, Montana Holdings Ltd.
  The development of Phase I will be in full swing by September 2006 with
the anticipated employment of 300 during peak construction. During Phase
II, the luxury hotel will open in 2010. Phase III will complete all
residential components with full build-out for the resort by 2016. In all,
it is anticipated that up to 400 permanent jobs will be created.


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