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 c.