1 April 2008
Ground has been broken on the billion-dollar Albany Beach & Golf Resort in the Bahamas. Some developers project will inject approximately $2.7bn into the economy In the Bahamas over the next 15 years.
The 565-acre development set is to include a 50 to 60-room boutique hotel, 350 residential units, a golf course, marina and separate centres for horse riding, fitness and beach activities, along the island’s southwestern shoreline.
In a recent interview with CNBC, Woods shared in the "fantastic vision" for the Albany project.
He said: "We’ve just started construction. The marina is going well. The golf courses are coming in. We are going to have something for everybody basically. It’s going to be absolutely incredible.
"The place…it is hard to describe the beauty of it. We are going to have something modern. We are going to have classical buildings. We’re going to have it all. It is going to be this great blend of this all inclusive area."
The company estimates that a guest staying in a local hotel would spend in the region of £1,500 for a one-week stay whereas a homeowner would part with around £37,500 annually maintaining their own home.
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