In a development being hailed as a major economic and tourism win, the iconic Elbow Beach facility has been officially purchased by The Loren Group, a company owned by international investor Stephen King. The announcement made headlines in the Royal Gazette this morning and has already sparked reactions from key government officials.
Minister of Housing and Municipalities Zane DeSilva spoke exclusively with TNN’s Trevor Lindsay earlier today, expressing enthusiasm about what the acquisition means for the island.
“This is great news for Bermuda,” Minister DeSilva said. “Mr. Stephen King has once again demonstrated his confidence in our country and its future by investing in such a landmark property. It’s not just a purchase—it’s a message to the world that Bermuda is open for business.”
The story also points to DeSilva’s early advocacy for the redevelopment of the Elbow Beach site. He previously brought the matter to the floor of the House of Assembly in December, calling attention to the facility’s potential and the importance of revitalizing key tourism assets.
While the transaction has officially closed, full details of what The Loren plans to do with the property remain under wraps. However, DeSilva noted that the acquisition is a “confidence builder” and a signal to the global market that Bermuda continues to be a solid investment destination.
DeSilva was quick to add that this is also a significant moment for the Ministry of Tourism, led by Minister Owen Darrell, who is expected to provide further comment. “I’m sure Minister Darrell will echo my sentiments,” DeSilva said.
Stay tuned to TNN for further updates and exclusive interviews as more details emerge on the future of the Elbow Beach property.
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