NASSAU, Bahamas and JERSEY CITY, N.J., Aug. 6, 2015 /PRNewswire/ -- China Construction America (CCA), a leading construction and real estate services provider with 30 years of experience in the United States, announced today that it will be hosting a groundbreaking ceremony for The Pointe, a new waterfront destination in downtown Nassau.
The groundbreaking ceremony is expected to be attended by key community, government and business representatives, including: Dame Marguerite Pindling, Governor General of The Bahamas, Perry Gladstone Christie, Prime Minister of The Bahamas; Yuan Guisen, Chinese Ambassador to The Bahamas; Philip E. Brave Davis, Deputy Prime Minister and Minister of Works and Urban Development; Ning Yuan, Chairman and President of CCA; Daniel Liu, Senior Vice President of CCA and President of The Pointe, and James Simpson, Member of the Board of CCA, Senior Advisor to Chairman Ning Yuan and former Commissioner of Transportation for New Jersey.
The Pointe will consist of 110 condo units, a 200 room hotel, movie theaters, retail shops, a performing arts centre, a spa, entertainment venues, at least 14 restaurants, a marina and parking garage. The project is expected to create over 200 construction jobs and 500 permanent jobs once completed.
"Our commitment to the Bahamas is stronger than ever," said Ning Yuan. "The Pointe is an exciting project that will create the ultimate downtown destination for both tourists and local Bahamians. It will contribute significantly to the Bahamian economy in the form of job creation and long-term tax revenue and will serve as a catalyst for redeveloping the entire downtown waterfront."
"This is a development that will delight residents and visitors alike," said Daniel Liu, Senior Vice President of CCA and President of The Pointe. "It represents the beginning of the revitalization of the downtown area and will ensure Nassau is a thriving epicenter of culture, commerce and recreation."
Ms. Kim Guadagno, Lieutenant Governor of the State of New Jersey, extended her congratulations and said: "I congratulate CCA, a New Jersey headquartered company on the ground breaking of its new resort."
During the initial signing ceremony surrounding the purchase of the property last October, Prime Minister Christie highlighted the positive prospects of the project and extended his appreciation to CCA for its contribution to the local economy. He shared that the project would help realize his dream of reinvigorating downtown Nassau. The Bahamian government wanted not only a competent buyer to upgrade the hotel, but a visionary developer that would focus on unleashing the maximum potential of the area to deliver significant benefits to local residents.
CCA acquired the six-acre property for The Pointe in December 2014. The Pointe is entirely self-funded by CCA. CCA will serve as the sole investor, developer and contractor for the project.
About The Pointe
The Pointe is a world-class lifestyle and residential development in Nassau, The Bahamas scheduled to be completed in 2017. With shopping, restaurants and an array of entertainment, The Pointe is poised to become the region's most sought-after destination. For more information, please visit www.thepointenassau.com.
Established in 1985, CCA is the North American and South American subsidiary of China State Construction Engineering Corporation Limited (CSCEC). With revenue of approximately $130 billion in 2014, CSCEC (SHA:601668) is currently ranked no. 1 on the ENR Global Contractors list and no. 37 among Fortune Global 500 companies.
Headquartered in Jersey City, New Jersey, CCA has 30 years of experience leading high quality construction and real estate projects in the United States. The company mainly operates in New York, New Jersey, Washington DC, North Carolina, South Carolina, Louisiana, Florida, California and The Bahamas. It provides a broad range of construction and real estate services such as program management, construction management, general contracting, design-build, and financing for public and private clients. With revenue of approximately $2 billion in 2014, CCA is the no. 32 ranked contractor in the US. In accordance with its core values, CCA is committed to building mutually beneficial partnerships with various stakeholders in the communities where it operates and building a better Bahamas and a better world. CCA's founding principles include integrity and innovation with quality assurance and value creation.
SOURCE China Construction America (CCA)