Baha Mar

Hong Kong’s Chow Tai Fook Enterprises buys bankrupt Baha Mar Resort; phased opening planned for April 2017

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 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 […]