Last updated: 01:50 AM ET, Mon October 29 2012

Bahamas Breaks Ground on $3.4 Billion Baha Mar Resort

Features & Advice | February 21, 2011

Bahamas Breaks Ground on $3.4 Billion Baha Mar Resort

An official groundbreaking was held in the Bahamas on Monday for Baha Mar, a 1,000-acre, $3.4 billion resort, gaming and entertainment complex, slated to open in late 2014. Present at the ceremony were T. Brent Symonette, deputy prime minister; Vincent Vanderpool-Wallace, minister of tourism and aviation; Li Ruogu, chairman and president of the Export-Import Bank of China; and Hu Dingxian, ambassador of the People’s Republic of China to the Bahamas.

The upscale resort will feature hotel properties from Rosewood Hotels & Resorts, Morgans Hotel Group and Hyatt Hotels & Resorts, and will also feature a world-class casino hotel, for a total of 2,250 new hotel rooms. Baha Mar will also include the Bahamas’ largest convention center, with 200,000 square feet of space. Other facilities will include a 50,000-square-foot retail village combining an upscale shopping experience with Bahamian arts and crafts, branded restaurants and entertainment venues, and a 20-acre Eco Water Park and pool experience, three spas and an 18-hole Jack Nicklaus Signature golf. Baha Mar will create 12,000 new jobs generate more than $305 million in annual wages, raising the average annual income for a Bahamian family from $29,000 to $33,500, according to the project organizers, who added that the resort will contribute almost $1 billion to the local economy in its first year. For more information, visit www.bahamar.com.

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