What was once Stake Bank - or Port Coral - is now being transformed into Olo Caye. According to a press release, it will be a "world-class cruise port with a luxury resort."
The release continues by saying, quote, "Olo Caye is led by Piero Dibattista, whose professional record spans more than 30 years and includes the successful transformation of tourism in Roatán, Honduras." End quote. Our sources say the arrangement was made by the receiver.
The project's first phase will commence in the coming weeks with the construction of the staging site at mile 5 on the George Price Highway. This will serve as an operation hub and staff housing.
They say construction on the island is slated for completion in early 2028. Key features will include two advanced piers for cruise ship and ferry access, retail and dining districts, and accommodation options and amenities to host global events. It's expected to provide 5,500 employment opportunities during the construction phase and 750 permanent positions once fully operational.
