From:TheBahamasWeekly.com
Prime Minister Christie's Remarks at China Construction Signing
Oct 28, 2014 - 2:09:41 PM
Remarks
By The Right Honourable Perry G. Christie, M.P.
Prime
Minister
At
Announcement Of Signing Of Sales Agreement By China State Construction
Engineering Corporation To Purchase And Redevelop The Nassau British Colonial
Hilton Hotel And Ajacent Property
Nassau, Bahamas
October
24, 2014
Salutations,
It
gives me the greatest pleasure to participate in the announcement by China
State Construction & Engineering Corporation of the execution of the Sales
Agreement for the purchase and major development of the historic Hilton hotel
and adjoining property in the heart of the city of Nassau, on the picturesque
waterfront of one of the most beautiful harbours in this hemisphere, and
adjacent to the leading cruise port in this part of the world.
What
is unfolding here today is part of a vision which I have been resolutely
pursuing for several years as a strategic component of the redevelopment plan of
downtown Nassau and the waterfront, into a compelling and iconic tourism,
residential, cultural, entertainment, business mecca and city centre, with vistas
to the sea to be leisurely enjoyed by residents and visitors alike.
My
Government’s objective has been not only to secure a qualified buyer to upgrade
and operate the Hilton Hotel, but one with the means to proceed forthwith to
develop the vacant property to its fullest potential for the greatest economic
benefit to both the investors and the local economy.
I
am delighted that China State Construction, one of the world’s leading project
development and construction groups will make a major investment to create on
this site luxury hotel and condominium units, a multi storied garage building
with roof top garden and banquet rooms, high end retail shopping, restaurants,
gym, attractions, entertainment, marina and a boardwalk along the entire
waterfront.
This
ambitious project by China Construction will become the anchor property in the
west to jump start the downtown redevelopment.
The developer has indicated its willingness to join in a public/private
sector partnership with the Government and other stakeholders along Bay Street
to implement an overall plan for redevelopment extending from Arawak Cay in the
west to Potters Cay in the east. Some of
these stakeholders with whom I meet in the next fortnight are ready to move
ahead with their redevelopment plans.
Together we have retained Mr. Todd Hill of DTJ Design Master Planners
along with local architect Michael Foster who worked on the original EDAW City
of Nassau Redevelopment Master Plan, to work with local professionals and a
steering committee to establish guidelines and a framework for systematic
implementation. It is envisaged that
stakeholders, entrepreneurs, investors and the public at large would benefit
from the golden opportunities presented in the city’s redevelopment. This stellar redevelopment will accommodate a
large variety of activities, from the largest to the smallest in a symbiotic
relationship. It would be uniquely
Bahamian and expose the best aspects of Bahamian architecture, culture and
lifestyle while protecting the natural environment.
In
offering my Government’s special welcome and expressions of gratitude to Mr. Jun
Yi, Chairman of China State Construction and Engineering Corporation, I should
mention that the Hilton and downtown redevelopment projects, represent the
second major investment of his company in The Bahamas. China State Construction is not only the
builder of this $3.5 billion Baha Mar mega resort, but also holds significant
equity stake of $150 million in that project, with the China Import Export Bank
being the lender of $2.6 billion. China
Construction has put down substantial investment stakes in The Bahamas, while
at the same time benefitting economically.
We therefore look forward to this conglomerate becoming leading
corporate citizens with meaningful contributors to the local economy, cultural,
public, educational and social causes and to the society in general.
I
am also grateful to His Excellency Ambassador Guisen Yuan and the Chinese
Government for encouraging and supporting in a major way these significant
investments in The Bahamas, as part of the deepening relations between our two
countries.
I
look forward to all that we are witnessing and speaking of here today providing
hundreds of new jobs and business opportunities for Bahamians in the immediate
future and on a continuing basis.
I
wish to assure China Construction of my Government’s fullest cooperation in
providing a favourable environment for the success of your major investments in
The Bahamas. I thank you for your
magnificent manifestation of confidence in the Government, people and economy
of The Bahamas.
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