The Chinese will be heading to the Bahamas to invest in a Caribbean experience that is almost larger than life. CNN reports that the China will be investing some US$3.4 billion in the gaming and entertainment project, which is to be completed in late 2014.
According to Bahamar.com the Baha Mar Ltd. has partnered with some of the world's leading hotel and entertainment brands to create a resort metropolis - Baha Mar. Baha Mar will feature include the largest casino in the Caribbean, 5 acres of convention and meeting facilities, 20 acres of beach and pool experience, 3 World-class spas, and a Jack Nicklaus signature golf course located at Cable Beach.
The property will be situated on 1000 acres and over 1/2 mile of uninterrupted white-sand beaches.
Baha Mar, the largest single-phase resort development in the history of the Caribbean, celebrated the commencement of construction with its official groundbreaking ceremony on Feb. 21, 2011.
In addressing the large audience, Baha Mar's Chairman and CEO, Mr. Sarkis Izmirlian, said, Baha Mar, born from a singular vision, is surprisingly breathtaking in its magnitude. The vision of Baha Mar started more than 5 years ago with a plan to deliver an authentic Caribbean experience which combined the essence and spirit of The Bahamas with the distinction of luxury resorts.
Baha Mar represents a direct benefit to The Bahamas through the creation of 12,000 new jobs and the corresponding contribution of more than $305 million in annual wages. According to projections, Baha Mar will help raise the average annual income for a Bahamian family from $29,000 to $33,500.
Baha Mar partners include Export Import Bank of China, General Contractor and Investor and China State Construction and Engineering