The government signed a heads of agreement with Baha Mar yesterday for the development of a 350 room resort that will be at the site of the old Melia Nassau Beach. The project will be a $350 million capital investment and employ 400 Bahamians during construction and over 500 Bahamians upon completion. “We are in the middle of working through all the programming and that will take us well into 2025,” Baha Mar President Graeme Davis said during the signing at Rosewood.
“Then we’ll start working on [requests for proposals] for construction. We’re expecting to have over 400 local Bahamian construction jobs and then eventually over 500 full time employment at the new project in addition to the over 5,000 we have today at Baha Mar. So, by the time we get through the architectural documents, [and] get through the RFPs with contractors, we are expecting to have a shovel in the ground in early 2026.
It’s not too far away from where we are today. It will take three years to have it completely finished but we are expecting to cut a ribbon and have our first guest in 2029.” Prime Minister Philip Davis said the signing is a “clear vindication of the strength and resilience of our tourism industry and economy and a reminder of the opportunities ahead”.
“This dawn of a new chapter for Baha Mar is a signal to the world that The Bahamas is open for business, ready to embrace new opportunities, and steadfast in our vision of sustainable growth,” he said. “Baha Mar’s continued growth is a powerful demonstration of what can be achieved through true partnership. “Since its inception, this project has been a collaborative effort between government and private sector stakeholders, and the results speak for themselves.
“This expansion reaffirms the strength of our relationship with CTF BM Holdings and its parent company, highlighting their deep-rooted commitment to our country’s development.” With the new development, Davis said The Bahamas is adding crucial room inventory to cater to more guests and ensuring that the country continues to attract a higher volume of stopover visitors. “But, as we add these rooms, we must also work in parallel to increase airlift to The Bahamas,” Davis said.
“Ensuring more direct flights, with greater frequency, from key international markets is essential to sustaining this growth. Friends, we are entering a brave new era. An era defined by the remarkable investments we see today and the full maximization of Bahamian potential.
” Deputy Prime Minister and Minister of Tourism, Investments and Aviation Chester Cooper said the expansion is “transformative”. Since its opening, Cooper said Baha Mar has provided a significant boost to the economy of The Bahamas. “The commitment today speaks to the long term optimism that Baha Mar has for the future of The Bahamas and Bahamians,” Cooper said.
“One of the key reasons I believe that Baha Mar has been already successful is its commitment to the people of The Bahamas and its employees.” The new hotel will feature 350 rooms and 50 luxury branded residences. Graeme Davis said Baha Mar will position the new property between its SLS and Rosewood properties.
The new hotel will feature 25,000-square feet of dedicated indoor and outdoor event space, including a 10,000 square-feet ballroom. It is being designed by world renowned architects Foster + Partners, which designed Apple’s headquarters, Apple Park, in Cupertino, California. Baha Mar, which is located in the Cable Beach area of New Providence, opened the Grand Hyatt in 2017 with the openings of SLS and Rosewood following months after.
.
