By FAY SIMMONS

Tribune Business Reporter

jsimmons@tribunemedia.net

Baha Mar’s developer will invest $350m to construct a new resort where the former Melia hotel once stood via a project that will create 500 permanent jobs once open in 2029.

Graeme Davis, Baha Mar’s president, speaking as the Cable Beach mega resort and its owner, Chow Tai Fool Enterprises (CTFE), signed a Heads of Agreement for the development, said the project will create 400 construction jobs but the developer is in no rush to begin.

The resort will feature 350 rooms and 50 condominium units when completed, and Mr Davis said: “It will be a luxury resort and residences, 350 rooms with 50 luxury residences, and we’re positioning [it] as another luxury choice here at Baha Mar.

“We will position this property between our SLS and our ultra luxury Rosewood at Baha Mar. So perfect positioning to continue to expand on the exceptional experiences that Baha Mar has to offer with all of the amenities of Baha Mar, including Baha Bay, our golf course, our casino, all of our 45 restaurants and bars.”

Mr Davis explained that construction will take about three years and will begin in 2026. “We’re in the middle of working through all the programming,” he explained. “That will take us well into 2025. Then we’ll start working on RFPs (requests for proposal) for construction,” said Mr Davis

“We’re expecting to have over 400 local Bahamian construction jobs, and then eventually 500 in full-time employment at the new project, in addition to the over 5,000 we have today at Baha Mar.

“By the time we get through the architectural documents, we get through the RFPs on contractors, we’re expecting to have a shovels in the ground in early 2026. That’s not too far away. It will take three years to have it completely finished, and we’re expecting to cut a ribbon and have our first guest in 2029.”

Mr Davis said in addition to the 350 rooms and 50 condo units, the resort will feature four new restaurants, a conference centre, ballroom, indoor and outdoor event spaces, penthouse units and villas. “We believe strongly that the future demand is bright for The Bahamas; the future is very bright for the luxury experience, particularly a luxury choice here at Baha Mar,” said Mr Davis.

“This will complement what we are offering so far with an additional four main restaurants with a celebrity chef restaurant experience on the beach. We’ll have entertainment lounges, we’ll have beautiful poolside experiences, as well as tremendous conference facilities, with a ballroom of 10,000 square feet, 25,000 square feet of indoor and outdoor event space, with our residences on top of the hotel.

“We’ll have two-floor penthouse units on the top of the residence, and we’ll have additional villas set and nestled along the shoreline.” Prime Minister Philip Davis KC said the development will add “crucial” room inventory to facilitate more stopover visitors.

“With Baha Mar’s expansion, we are adding crucial room inventory to cater to more guests, bringing more ‘heads in beds’, and ensuring that we continue to attract a higher volume of stopover visitors,” said Mr Davis.

“But, as we add these rooms, we must also work in parallel to increase airlift to The Bahamas. Ensuring more direct flights, with greater frequency, from key international markets is essential to sustaining this growth.”