Makes $3 Million Gift to Fund Ginn West End Foundation
Edward Robert Ginn III, (Bobby Ginn) president and
chief executive officer (CEO) of Ginn Clubs and
Resorts, presented a $3 million check on Dec. 13,
2006 toward the opening of the Ginn West End Foundation.
Prime Minister Perry Christie, MP for West End and
Tourism Minister Obie Wilchcombe, and Minister of
Works Bradley Roberts flew into Grand Bahama for
the special event. It was the first installment
of a commitment Ginn made to government officials
a year ago as part of his plan to develop the Ginn
Sur Mer, a $4.9 billion mix resort on the tip of
West End on Grand Bahama.
The project involves 870 single family residential
home sites, two championship ocean-front golf courses
and clubhouses, 4,400 condominium hotel units two
large marinas, 130,000 square-foot casino, swimming
pools and water park facilities, tennis complexes,
beach clubs and spas and a private airport.
"We committed that when the first lot closed
we would fund the Foundation with the initiation
of the initial deposit of $3 million into it,"
said Ginn. The foundation was created to benefit
the people of the community. Ginn reiterated his
plan to return the island's West End to the glorious
mecca it once was.
"The gateway to The Bahamas is currently West
End. Everyone who comes here by boat comes by West
End; everybody who knows boating, knows West End.
It had a grand tradition one time past and you know
it is my commitment to bring it back to that state,"
On behalf of the people of West End, Wilchcombe
thanked Ginn for the donation, which he said will
be used to develop the community.
He noted that the act speaks loudly to Ginn's concern
about the development not moving too far ahead of
"I'm elated today because now we're going to
take this and we're going to begin this foundation
and we're going to ensure that the people of West
End all benefit handsomely," he said.
The presentation was made during media day at Old
Bahama Bay resort, which followed a media tour of
the 2,000-plus acre Ginn Sur Mer property.
The CEO also disclosed that negotiations to acquire
the Old Bahama Bay Resort Property next to the Ginn
Sur Mer site has been agreed on with a handshake,
and the deal is expected to be closed by the end
of the year.
The Minister of Tourism added that the Ginn Sur
Mer development will catapult the country to become
of the few destinations to have world-class accommodations
throughout its archipelago.
It is, he pointed out, another realization of the
prime minister's dream of anchor properties throughout
Wilchcombe projected a 20 percent growth in tourism
arrivals to The Bahamas in the next two years as
the country is finally moving away from having a
"For West End Grand Bahama this is a major,
major development for us. For a very long time we
have been without, now we do have," Wilchcombe
said. "I want to thank the Ginn Corporation
for their corporate sponsorship, for their corporate
personality, for bringing to this community the
leadership in assisting us to taking this part of
the island so much further than we've been in a
very, very long time."
Prime Minister Christie congratulated the Ginn Company
and revealed that one year later, there was clear
evidence of Ginn's commitment to the development
of the country.
Bobby Ginn, he said, is one of those developers
who truly commit themselves legally to performing
services that are more related to the well-being
of the community they are investing in than their
In addition to the $3 million contribution to the
fund, under the Heads of Agreement, the prime minister
said an additional provision obliges Ginn to provide
$2,000 for each lot sold in the future.
Prime Minister Christie noted that Bobby Ginn is
coming in with another dimension of development
with all-suite hotels and the condo hotels that
ensure that those who come in to enjoy what it offers
will come in as owners.
"As owners there is no hurricane, no natural
event that will take away from them the desire to
come back to West End because they own a piece of
it," he declared.
That strengthens the time those homeowners will
spend in the community and guarantees the occupancy
of the resort community. It also gives a greater
return to the country in terms of the occupancy
package and the spending per person coming in.
With the acquisition of Old Bahama Bay, it is expected
that the foundation could get up to the $20 million
range by the time everything is all said and done,
Already, Ginn has spent over $150 million on developing
the Ginn sur Mer project.