Bermuda land swap deal signed

The Bermuda government and a private group, Southlands Ltd, have settled their differences and signed a land swap deal which will allow for the construction of a US$2 billion tourism resort on a former US Navy base at Morgan’s Point.



The agreement, which comes almost seven months after the two sides fell out publicly over negotiations, means the private Southlands estate in Warwick parish will become public property and be turned into a national park.



The deal was signed at a news conference where plans for the former US Naval Annex on the border of Southampton and Sandys parishes were unveiled for the first time.



They include a 325-room main resort hotel, an 80-room boutique hotel, condominiums, beach villas, a golf course, a boat club and a retail plaza.