The Premier visited the Caroline Bay site last week to get an update on the construction works.

Michael Dunkley, who was joined by public works minister Craig Cannonier, social development and sports minister Nandi Outerbridge and senator Vic Ball, said the developments were “extremely” encouraging.

“There are real, visible and significant signs of progress happening in Bermuda,” he stated. “Right now, Bermuda is bustling with activity. There are construction works that are taking place across our Island. There’s an influx of visitors to our shores. And of course, we are merely days away from hosting the 35th America’s Cup, which brings its own level of heightened excitement.

He added: “Last week, it was good to visit Caroline Bay to see the progress taking place at the site. Caroline Bay is helping to inject new life into our tourism product and this Government is pleased to support the efforts of Morgan’s Point president and CEO Craig Christensen and his team.

“I am extremely encouraged by the progress made to date, and our entire Island should feel excited about the significance of Ritz Carlton’s demonstrated confidence in Bermuda. The construction of Caroline Bay is benefiting our vital industries of hospitality, construction and other critical sectors that drive our economy.”

The tour was the latest of several development activities highlighted by the Government, which also included consecutive groundbreakings for the new airport project and the St Regis Hotel in St George’s.

In addition to the construction works taking place, the Premier also noted the successful opening of the island’s newest boutique hotel, The Loren at Pink Beach, and pointed out that beginning tomorrow Bermuda will welcome Norwegian Cruise Line visits in St George’s and on Thursday, celebrate JetBlue’s inaugural service from Boston and New York.

“All of this,” said Premier Dunkley, “is good news for Bermuda.”

And he added: “So, we believe that the activity taking place in Bermuda is positive. These are large scale, sustained projects, and all of this translates into economic and job opportunities for Bermudians. I recognise that it’s easy to get side tracked by the criticism from some sectors of our community, but the facts are clear — there are real, visible and significant signs of progress happening in Bermuda.”

While at the site, the Government team also received a tour of the new marina and also visited Artemis Racing base.

The Morgan’s Point project continues to be managed in phases. The first phase includes the building of 35 branded condominium residences, the construction of a new marina that includes 77 berths with capacity for additional 21 mega-yachts; and a five star ‘Boutique’ 79 room Ritz Carlton Reserve Hotel.