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Financing Finalized, Baha Mar Project Good To Go

Baha Mar yesterday finalized its financing agreement with the Chinese Export-Import Bank, clearing the way for the immediate launch of the $2.6 billion project.

The official groundbreaking ceremony is scheduled for February 21, 2011, with construction to commence immediately.

Baha Mar’s Vice President of Government and External Affairs Robert Sands told the Nassau Guardian, “A year from now we envision the re-routing of West Bay Street complete, the Commercial Village complete, and that super structure for the new Baha Mar hotels will begin to emerge out of the ground.”

After much anxiety and concern about whether it would actually come to fruition, Baha Mar just recently presented letters of intent to the contractors who will participate in the construction of the Commercial Village, part of the project’s $60 million first phase.

Posted in Business

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