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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

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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.

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