The Prospect Reef redevelopment project is “on hold,” Premier Dr. Orlando Smith told reporters this week, but there is a high level of economic activity in the territory compared to recent years.

 

Dr. Smith said that McAlpine, the company that had previously expressed interest in redeveloping the government-owned resort property, has not come forward with a formal offer, but neither has it stated that it is no longer interested in the project.

“We are of course reviewing options,” Dr. Smith said, but he added that no decision has been made on whether to send the project out to tender. “We’ll come to some decision very soon as to what [the next step] is.”

Dr. Smith repeated the signs of economic improvement he listed in last week’s Budget Address: development projects ongoing, a 2.5 percent increase in the territory’s gross domestic product, and what he described as a thriving tourism sector.

Pressed by reporters to respond to his critics in the opposition who say that the financial reality is still one of hardship, Dr. Smith said, “I can only tell you what you should be able to observe with your own eyes. If you look around you will observe exactly what I just related.”

 

See the Nov. 27, 2014 edition for full coverage.

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