A land swap deal allowing a $2 billion luxury tourism resort to be built at Morgan’s Point was signed this afternoon — paving the way for the Southlands estate to become a national park.

Premier Ewart Brown and Works and Engineering Minister Derrick Burgess inked the deal with overseas developers John Ryan and Egbert Perry — partners of Southlands Ltd. — in front of the media at the Cabinet building.

A bill will go before the House of Assembly in November to make the agreement official and work on the five-star resort will begin once pollution at the former US Naval Annex on the border of Southampton and Sandys has been cleaned up.

Tourism Minister Dr. Brown told today’s press conference: “I am proud to fulfil our promise to the people of Bermuda to preserve Southlands and take another step forward to formally make that land a national park.

“The exchange agreement we execute today is further evidence of this Government’s real environmental credentials.”

See tomorrow’s edition of The Royal Gazette for the full story.