Plans to have the Five Star Buccament Bay resort up and running by December 2018, is not going as fast as it should.
Latest information reveals that the legal work is moving slow, and it is clear now that the resort will not be open for December 2018.
Gonsalves said the younger politicians in the cabinet wanted the government to take over, however he resisted it and it appears that the legal matters are working out but at a slower pace than he anticipated.
Gonsalves said across the state many apartment building are ongoing and he is pleased with such.
In June of 2018, a group of investors who were interested in operating the Buccament Bay Resort was in the state and held discussions with government and the trustee in bankruptcy, KPMG.
In February of 2018, Finance Minister Camillo Gonsalves reported that investors and creditors of the resort were in communication with the bankruptcy trustee, and plans were already approved for the management of the resort.
He said at the time the bankruptcy trustee was currently fine-tuning the details of management proposals from credible and competent entities with excellent track records in hotel management.
Gonsalves had also indicated during the budget presentation that the resort would reopen in advance of the 2018 tourist season, after a three-month process of rehabilitation to the existing facility.
The closure of the Buccament Bay Resort has had an undeniably negative impact on tourist arrivals from the United Kingdom, which were flat regionally on Brexit-related concerns.