Developer Carl Bazarian says the design for a new 18-hole golf course at the old Club Med site has just been completed.

But Mr. Bazarian said it's not certain that he will be breaking ground on the new St. George's resort this autumn, despite the Premier's comments at a Caribbean investment conference last week.

Premier and Tourism Minister Ewart Brown had announced: "I am happy, no, I am ecstatic to say that Bazarian International will break ground on the former Club Med site in the fall of this year."

The PLP touted the announcement as "more good news for our economy and our platinum period tourism revitalisation".

But Mr. Bazarian said yesterday there was still much work to be done before actual building begins.

"We have just got the golf course design completed and there are still engineering and design aspects to finalise," Mr. Bazarian said.

"It is still possible we will start moving dirt before the end of the year...that is an objective."

When asked for an update on financing, Mr. Bazarian said, "A significant part of the the equity is in place all the debt capital. But it is a tough capital market right now and I would not represent it as 100 percent (of the financing in place)."

The planned $294 million 100-room resort will be managed by Park Hyatt and will also include condos and fractional ownership units.