Home News International News Stalled mega-resort at Bahamas — ‘Baha Mar’ to start opening “in April...

    Stalled mega-resort at Bahamas — ‘Baha Mar’ to start opening “in April 2017”

    1461

    With a large Hong Kong-based conglomerate lined up to buy the stalled mega-resort Baha Mar, the Prime Minister of the Bahamas has proclaimed that the Caribbean’s biggest leisure development will finally start opening in April 2017.  The nearly-complete $3.5bn resort and casino abandoned amidst acrimonious legal battles in June last year, was underway again by the Chinese contractor, and that hundreds of rooms would be open in the second quarter of next year.  Resort staff numbering 1,500 would be hired early in the New Year with total headcount expanding to 4,300 by December 2017.  The project is important for the tiny island nation affected by economic stagnation and high unemployment.  Hong Kong conglomerate, Chow Tai Fook Enterprises (CTFE) revealed that it was the rumoured entity negotiating to buy the resort from its main financier, the Export-Import Bank of China (Exim Bank).  As part of the government’s due diligence process a senior delegation flew to Hong Kong on 5 December to meet CTFE and tour its casino operations.  The contractor on the scheme, China Construction America, which has now resumed work on the complex.

    Source: globalconstructionreview.com

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here