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Boomtown Bahamas
Bringing back Nassau’s buzz
New Providence is booming as many projects around the island are nearing completion. They are all part of a master plan designed to enhance downtown Nassau for the benefit of residents and the millions of visitors who come to The Bahamas each year.
“We hope to make the downtown Nassau experience such that visitors would be able to return home and tell their friends and relatives that ‘It’s better in The Bahamas’,” said Prime Minister Hubert Ingraham in announcing the master plan.
Improvements to the Bay Street area include a new $12 million, 37,000 sq ft straw market, the renovation of the supreme court and parliamentary buildings, artistic wall murals, increased greenery and pedestrianization of side streets and parts of the wharf area.
“Nassau is really the front room of The Bahamas and, if we are inviting people into our front room, then it really should be the showroom for the entire nation,” says Vaughn Roberts, former managing director of the Downtown Nassau Project.
And it is not just Nassau’s busy Bay Street that is benefitting from investment. In the past year, developers began work on several large projects throughout New Providence.
The $3.4 billion Baha Mar mega-resort was officially launched in February 2011. It will bring four hotels, a casino, three spas, a convention centre, water park and retail village to the Cable Beach strip. When completed in 2014, the resort will have around 3,800 hotel rooms including 300 residential condos and villas for private ownership.
The Albany luxury resort, in western New Providence, is also attracting homebuyers. The 565-acre complex includes a boutique hotel, marina, beach club and championship golf course. Phase one of the project, which included construction of the hotel and other facilities, was completed in October 2010.
Meanwhile, the Thomas A Robinson Stadium in Nassau is due to open in 2011. The $30 million national stadium complex at the Queen Elizabeth Sports Centre is a gift from the government of China.
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Investment_WTDNJul11
Boomtown Bahamas
Bringing back Nassau’s buzz
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