GREAT BAY--Minister of Finance Marinka Gumbs has reiterated that government is not pursuing a joint development arrangement or private financing partnership with Sun Resorts for Mullet Bay, confirming instead that the Ministry of Finance is exploring financial mechanisms that could allow St. Maarten to acquire the property if it is placed on the market. The Minister maintained that government must first protect its negotiated matching right before participating in discussions concerning the property's future development.
Gumbs provided the clarification during the continuation of Parliament's 2027 national budget debate on Monday, November 9, responding to questions from Member of Parliament Egbert Doran concerning the proposed Mullet Bay master plan and government's relationship with the property's current owners.
Doran questioned whether Sun Resorts was refusing to engage with government, following earlier statements by Gumbs that she would not participate in discussions concerning the proposed master plan.
The Minister clarified that she had received no indication that the company was refusing to communicate with her at the governmental level. She explained that the matter concerned an invitation to participate in a presentation about the Mullet Bay master plan.
According to Gumbs, government's immediate priority is not to become involved in planning the development of the property, but to establish when it will become available for sale so that St. Maarten can determine whether to exercise its matching right.
That right was negotiated in connection with the broader ENNIA resolution arrangements and provides government with a potential opportunity to acquire the property under the agreed conditions if it is offered for sale.
Gumbs expressed concern about government participating in the development of a master plan with the current owners before the property's sale process and the country's contractual rights have been addressed.
She explained that she had asked who would finance the master plan and was still awaiting a response.
The Minister also raised concerns about the potential legal and commercial implications of government participating in a development planning exercise while its matching right remains relevant to a future sale.
According to Gumbs, participation in such discussions could influence the property's development potential and value, making it necessary to consider the implications for government's negotiated rights.
She maintained that development planning should not move ahead of the process intended to bring the property to market.
Gumbs previously expressed a similar position in September, when she explained that she had declined an invitation from Sun Resorts to participate in master plan discussions because of concerns about protecting St. Maarten's right of first refusal.
The Minister's latest response also addressed government's preparations for the possibility of acquiring Mullet Bay.
Gumbs confirmed that the Ministry of Finance is exploring financial mechanisms that could support an acquisition if the property returns to the market.
She did not identify the financing arrangements being considered, provide an estimated acquisition cost or indicate whether government had secured funding for a possible purchase.
No decision to acquire the property was announced.
The potential sale of Mullet Bay forms part of the wider financial arrangements surrounding the ENNIA resolution, under which proceeds from the property are expected to contribute to the resolution fund.
The property's future also remains connected to the question of its boundaries. A July 2026 Court of First Instance ruling determined that Mullet Bay Beach is public property, while confirming private ownership of land behind the beach. Sun Resorts has appealed that judgment, and government is continuing work to establish the relevant boundaries.
Gumbs maintained that the country's legal and financial interests must be protected as the process moves forward. She also welcomed Parliament's input as the Ministry continues examining options that could enable government to exercise its matching right.
The Minister did not provide a timeline for the property's anticipated sale or indicate when the Ministry's assessment of possible financing arrangements would be completed.
