After nearly two years of being stalled by bankruptcy proceedings, the $3.5 billion Baha Mar Resort project in the Bahamas has finally been sold and can proceed with its development. Hong Kong-based conglomerate Chow Tai Fook Enterprises Limited, or CTFE, has signed an agreement to own and operate the resort, which had initially been scheduled […]
Baha Mar
Baha Mar developers file for bankruptcy protection; resort not yet open
Baha Mar Ltd., the development company behind the $3.5 billion resort complex in the Bahamas, filed for bankruptcy protection on June 29, with CEO Sarkis Izmirlian blaming China State Construction for delaying the project due to missed construction timelines. The developer also filed a lawsuit in London against China State Construction Engineering Corporation Limited, accusing […]
Baha Mar opening doors to new era of luxury in The Bahamas this month
In an undertaking that has taken five years of planning and massive construction, Baha Mar, the largest single-phase luxury resort project in the history of the Caribbean, and the largest tourism project under construction in the Western Hemisphere, will begin accepting guests on March 27, 2015. The $3.5 billion Baha Mar resort in Nassau is […]