Baha Mar 25 Percent Complete as it Celebrates First Anniversary of its Groundbreaking

NASSAU, Bahamas, Feb. 27, 2012 /PRNewswire/ -- Baha Mar, the largest single-phase resort development in the history of the Caribbean, celebrated the first anniversary of its historic groundbreaking in a ceremony attended by Baha Mar Ltd., China Construction Americas management and employees. The 1,000-acre, $3.5 billion resort, gaming and entertainment complex slated to open in late 2014 will include some of the world's most famous hotel brands, including Mondrian, Rosewood and Grand Hyatt and marks the resurgence of The Bahamian Riviera as the paramount destination for sophisticated international travelers.

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"Not only has construction started, but also the building of the iconic Baha Mar brand has begun. In 2011, we launched our new logo and brand identity and we will soon unveil a new website and begin pre-construction sales of our private residences" said Baha Mar's Chairman and CEO, Mr. Sarkis Izmirlian. Significant accomplishments in construction and development were made in the last year, putting the resort at the 25 percent completion mark, on pace for the opening, scheduled December 2014. 

In an unprecedented nine months, vital road works and infrastructure projects were completed, making way for Baha Mar construction. The entire Cable Beach area has been transformed by the newly diverted West Bay Street. More than a mile long, this new public roadway now borders six acres of beautiful natural wetlands, lakes and parks, including walking trails, gazebos and boardwalks open for public enjoyment. Also part of the first year accomplishments was the construction of the new Baha Mar Commercial Village, including three new financial institutions, a state of the art Police and Fire Station and a highly successful Pompey Market straw and crafts marketplace. 

The completion of these important infrastructure projects created 1,400 local jobs for Bahamians and was celebrated by a road opening ceremony on November 11, 2011, attended by VIP guests including The Right Honourable Hubert Ingraham, Prime Minister of the Commonwealth of The Bahamas and Minister of Finance and His Excellency Hu Shan, China Ambassador to The Bahamas, signifying the magnitude and importance of the project to the country.

Once the new road was finalized and traffic rerouted, the core works for the Baha Mar campus began in earnest. To date, more than 6,000 foundational piles supporting the massive 3.3 million sq. feet superstructure for the resort are in place and nearly 50 percent complete, putting the first iconic casino tower on track to reach the 100-foot mark by July 2012. "This project is a unique partnership of different industries, skills, languages and nationalities...this is our strength and one day will serve as a model for other projects" remarked Mr. Izmirlian, as he thanked the group represented by team members from more than 20 countries around the globe for their achievements over the past year.

Upon completion, Baha Mar will set a standard for travel expectations unmatched by any other hospitality destination in the world by blending The Bahamas natural beauty and charm with vibrant experiences in entertainment, gaming, amenities and service.

For more information, visit www.bahamar.com

About Baha Mar
Baha Mar, the 1,000-acre, $3.5 billion resort, gaming and entertainment complex slated to open in late 2014, will boast some of the world's most famous hotel brands, including Rosewood Hotels & Resorts, Mondrian and Hyatt Hotels & Resorts, as well as a Casino Hotel, creating more than 2,200 new rooms. Within the hotels, Baha Mar plans to develop 300 highly exclusive residential condominiums and villas, available for private ownership. Baha Mar's stunning, new 100,000 square-foot casino will be the largest in the Caribbean, and one of the most compelling and exciting gaming experiences in North America, comparable only to the best in Las Vegas.

Baha Mar will also feature the most advanced and versatile convention facilities in The Bahamas, with a combined 200,000 square feet of space, portions of which can also double as an entertainment and sports venue. Other amenities will include 200,000 square feet of retail and entertainment experiences, combining upscale shopping boutiques with authentic Bahamian arts and crafts galleries, chef-branded restaurants and exciting nightclub and entertainment offerings. An Eco Water Park, extraordinary pools, and three unique spas, including the most complete spa experience in the Caribbean, will be set along 3,000 feet of the most pristine beach in the world. The planned 18-hole Jack Nicklaus Signature Course will be one of a select few such top-tier Nicklaus courses in the world, bringing a new, true championship course to The Bahamas.

SOURCE Baha Mar