Wednesday 30 September 2015

NASSAU: $250 Million Hotel Project Breaks Ground In Nassau

A new $250 million dollar development has broken ground in Nassau.

Pointe, as it is known, is slated to include 200 guest rooms, world-class shopping, fine dining options, and a 1,000-car garage.

China’s state-owned China Construction America will be the primary investor, developer and contractor on the project.

The company has been in the news of late as the contractor on the now-troubled Baha Mar project.

“The Pointe represents another substantial milestone for us in that, different from our other project in the Bahamas, China Construction America will be the sole investor, developer and contractor for The Pointe Project,” Pointe President Daniel Liu.

Its parent company, the state-owned China State Construction Engineering Corporation, purchased the project lot and the adjacent British Colonial Hilton hotel in 2014.

“I would like to thank the Developer, China State Construction and Engineering Corporation, and Mr. Ning Yuan, its chairman, for the investment of $250 million in this harbour-front project, the 250 construction jobs being undertaken by Bahamians and the future employment prospects for 500 Bahamians in the operation and management of the hotel and residential units,” said Bahamas Prime Minister Perry Christie. “This does not include the number of Bahamians who I expect will be employed by retail owners when the facility is fully subscribed and stores are operational.”

Pointe has announced a planned completion date of 2017.

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