ORLANDO — Plans are well underway for Disney Cruise Line’s second island destination, with the company officially purchasing property on the Bahamian island of Eleuthera.

With the purchase complete, the Bahamian government has entered into an agreement with Disney to develop the property, which spans 700 acres and amounts to an investment of between US$250 million and $400 million.

In a statement made by Bahamas Prime Minister Hubert Minnis last week, Disney will also donate 190 acres of the land, including the southernmost tip of the island, to the government for a national park. The donated land has a value of $6.29 million.

As first reported by Travelweek in October 2018, the new cruise port will be located on Eleuthera’s southern end on a piece of land known as Lighthouse Point. Upon completion, it will comprise a pier and marina, as well as dining and retail venues.

Disney already has a private island, Castaway Cay, and is expanding from four ships to five by the year 2023.

With file from The Associated Press