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New plans for Baha Mar mega resort in Bahamas

The failed Baha Bar mega resort in the Bahamas has been given a new lease of life after the Bahamas government and the Export-Import Bank of China recently signed an agreement. The contract states that construction of the resort will be completed and then sold to a "world-class" hotel group. Construction is scheduled to start in September and the new resort could open before the end of the 2016/2017 high season.

New plans for Baha Mar mega resort in Bahamas

After filing for bankruptcy in June last year, the Baha Mar mega resort in the Bahamas looks set to be given a new lease of life after a contract was signed last week between the Export-Import Bank of China and the Bahamas government. The agreement will ensure that construction of the huge resort will be completed and it will then be sold on to a world-class hotel company.

Prime Minister of the Bahamas, Perry Christie, announced that China Construction will finish the construction of the $3.5 billion resort complex on New Providence Island using finances from the Bank of China, and it will open to guests before the end of the 2016/2017 tourist season. The agreement has also been approved by the Supreme Court.

Mr Christie, the Prime Minister stated:

“This agreement represents a signal achievement for The Bahamas, and a milestone in the troubled history of Baha Mar. Going forward, many of the same people and companies who were previously contracted, will be re-engaged to complete the Project.”

The resort complex was set to be the largest single-phase resort in the history of the Caribbean, and it had a collection of luxury beachfront hotels including brands such as Rosewood Hotels & Resorts, Morgans Hotel Group, Hyatt Hotels & Resorts, and a world-class Casino Hotel with 2,250 rooms.

Also, plans for the huge development included a 50,000 square-foot retail village with boutiques and local Bahamian arts and crafts, restaurants and entertainment venues; a 20-acre Eco Water Park with pool experience, and three luxury spas, including the largest spa in the Caribbean; an 18-hole Jack Nicklaus Signature Course; the largest convention centre in the Bahamas with 200,000 square-feet of space; and a 100,000 square-foot casino which was scheduled to be the largest gaming complex in the Caribbean.

After getting into financial difficulty and deadlines being missed, including its grand opening, the resort developer filed for bankruptcy in 2015. There was plenty of media speculation about what would happen to the half-finished project and the hotel groups who were interested in buying it, but now an agreement has been signed to secure its future. No further details about the acquirement have been released at this stage.

Bahamas is a beautiful archipelago nation in the Caribbean with 700 coral islands. The 16 main islands include Grand Bahama, Paradise Island, The Exumas, Bimini, The Abacos, Berry Islands, New Providence, Crooked Island Mayaguana, Acklins, The Berry Islands, and harbour Island, and holidaymakers can enjoy unique pink-sand beached fringed by swaying palms.

As well as hundreds of pristine beaches to relax on and warm turquoise lagoons to swim and dive in, there are numerous popular tourist attractions in the Bahamas to enjoy. These include the National Art Gallery of The Bahamas, Pirates of Nassau Museum, the historic Fort Fincastle, Ardastra Gardens and Zoo, and Atlantis Paradise Island with its aquarium, dolphins, water park and casino.

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