The Bahamas Weekly Facebook The Bahamas Weekly Twitter
News : International Last Updated: Feb 13, 2017 - 1:45:37 AM

Al Jazeera reports on Baha Mar and Bahamas - China relations
Oct 9, 2015 - 12:07:07 PM

Email this article
 Mobile friendly page

NASSAU, Bahamas — Earlier this year, we reported on Al Jazeera America being in Nassau to report on Baha Mar and Bahamas - China relations. they interviewed Edison Sumner, CEO Bahamas Chamber of Commerce; DNA Leader, Branville McCartney; Bahamas Minister of Tourism, Hon Obie Wilchcombe; Daniel Liu, SVP of China Construction America; Laranda Gibson; and Justin Lockhart.

Here's is their feature with video published on October 5th:

Aljazeera writes, "Missing two grand opening deadlines isn’t something that any large venture hopes to experience, but that’s exactly what has happened to Baha Mar.

Touted as China’s largest commercial real estate project in the Western Hemisphere, Baha Mar, a $3.5 billion Bahamian resort complex, has floundered this year, causing the most serious economic damage the small island country has seen since the global financial crisis. The resort is predicted to contribute 12 percent to the country’s gross domestic product, but its failure to materialize has at least in part led Standard & Poor’s to downgrade the country’s sovereign credit rating.

Thousands of Bahamians had expected to work at the resort by now. Instead, the developer filed for Chapter 11 bankruptcy protection in Delaware this summer while the government assigned a provisional liquidator. The spat between Chinese contractor China Construction America and local Bahamian developer Sarkis Izmirlian — with the Chinese side accusing its local partner of mismanagement and the Bahamian side citing missed deadlines — has meant no progress on opening the 97 percent completed resort for business....

Read the full feature HERE.

Bookmark and Share

© Copyright 2015 by thebahamasweekly.com

Top of Page

Receive our Top Stories

Preview | Powered by CommandBlast

Latest Headlines
28th annual International Book Fair of Havana, Cuba
U.S. Embassy Closure for U.S. Presidents’ Day Holiday
U.S. Department of the Treasury on European Commission List
Caribbean Tourism on the Upswing
ILO to host high-level conference on the future of work we want in Port of Spain, Trinidad and Tobago