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CCA breaks ground on Nassau resort

China Construction America hosted a groundbreaking ceremony yesterday for The Pointe, a new waterfront destination in downtown Nassau. Pictured: ENTERTAINMENT HOTEL – Inspired by the pool party vibe of Ibiza with an added layer of luxury, our 200-room entertainment hotel features spirited socializing and outdoor fun around the clock. (Photo and caption via The Pointe Nassau's website.)

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Date:
Updated:
TheBahamasInvestor.com
Friday, August 7, 2015
Friday, August 7, 2015

China Construction America (CCA), a major contractor involved in the Baha Mar resort project, hosted a groundbreaking ceremony yesterday for The Pointe, a new waterfront destination in downtown Nassau.

The groundbreaking ceremony was attended by key community, government and business representatives, including Prime Minister Perry Christie, Deputy Prime Minister Philip Brave Davis and Governor General Dame Marguerite Pindling.


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 a 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 chairman and president of CCA 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 epicentre of culture, commerce and recreation.”

During the initial signing ceremony surrounding the purchase of the property last October, Prime Minister Perry Christie highlighted the positive prospects of the project and extended his appreciation to CCA for its contribution to the local economy.

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.

CCA is headquartered in New Jersey.

LUXURY OCEANFRONT RESIDENCES

Pictured: LUXURY OCEANFRONT RESIDENCES – Featuring expansive views of the ocean, cruise port and picturesque lighthouse, our one, two and three bedroom residences are spacious and comfortable, with every modern amenity. (Photo and caption via ThePointeNassau.com.)

Attorney General Allyson Maynard-Gibson has said that she is optimistic that a resolution will be found to the Baha Mar bankruptcy situation and that the megaresort on Cable Beach will open soon. Watch an interview with Maynard-Gibson here.

The Bahamas International Securities Exchange (BISX) announced at the end of last week that the government of The Commonwealth of The Bahamas has successfully completed the listing process for all of the Notes that comprise Tranche 1 and Tranche 2 of Bahamas government stock.

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