Yesterday's Baselands treaty signing gives the green light for leisure and homes development at Morgan's Point, Works and Engineering Minister Alex Scott revealed last night.

He said he expected Government and BEAM Ltd. to make a joint announcement next week.

BEAM's preferred development status had expired but Mr. Scott said they were still very much in the picture.

He said: "It's for us to get together with the Attorney General and contact the principals of BEAM.

"It's timely you should be calling now, we are at a point where we can make that statement."

Mr. Scott refused to comment further about the project while attempts to contact Alan Burland of BEAM were unsuccessful.

BEAM put in a plan to build a golf course designed by golf pro Tom Fazio in 1999 with a hotel, marina, shopping village and retirement homes linked to the project.

Last night Edward Lawrence, whose consortium Morgan's Harbour Investment Limited (MHIL) was selected for the site in 1997 but lost out later on, was remaining calm despite putting close to $4 million into his project which has been neck and neck with the BEAM bid for years.

He said: "We have done a complete survey, an in-depth study on bore holes, how much oil was there and where it was, we did a study on leaching.

"I don't know if BEAM have spent a lot more money since last time. I will be interested to see where they are at."

He said the $300-million MHIL project and the BEAM project were similar concepts involving a golf course, residential development and a marina.

"We had funds, three times we won it."

He said BEAM had been given two chances to prepare bids but nothing had come of their interest.

He added: "I put in three calls to Alex Scott but he never returned them, I can't comment further really."

Mr. Scott said yesterday's ceremony in Washington was reason to be exuberant that the 250-acre site could be developed.

He said: "Until pen was put to paper it was something pending. It's an extraordinary accomplishment, the Government of Bermuda has received back ten percent of the land mass."