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Government and Baha Mar sign $350 million Heads of Agreement for resort’s expansion

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By LINDSAY THOMPSON
Bahamas Information Services

 

NASSAU, The Bahamas –– The Government of The Bahamas and Baha Mar entered into a Heads of Agreement for a $350 million expansion of the resort on Cable Beach.

It was deemed “a big day for tourism and investments” in the country, as it also marked the beginning of an exciting new chapter for Baha Mar.

The agreement was signed during a press conference held on Wednesday, September 18, 2024 at Baha Mar’s Rosewood property.

In attendance were the Hon. Philip Davis, Prime Minister and Minister of Finance; the Hon. Chester Cooper, Deputy Prime Minister and Minister of Tourism, Investments and Aviation; Secretary to the Cabinet Mrs. Nicole Campbell; Phylicia Woods-Hanna, Director of Investments; Graeme Davis, President of Baha Mar; Robert ‘Sandy’ Sands, Baha Mar Senior Vice-President; and other officials.

“Today’s signing is a clear indication of the strength and resilience of our tourism industry and economy and a reminder of the opportunities ahead,” said Prime Minister Davis. “Today marks the beginning of an exciting new chapter for Baha Mar, one that underscores the strength of our nation’s tourism industry and its incredible potential.”

He observed that the expansion of Baha Mar, with its continued investment in the development of Cable Beach, is a shining example of how the country continues to attract significant global investment.

“This project represents a commitment to the ongoing growth of our economy and the enduring confidence investors have in The Bahamas.”

From developing a new condominium-hotel complex to expanding world-class amenities, this expansion will further elevate Baha Mar’s already outstanding reputation as a premier destination.  Baha Mar plans to add a 4th luxury resort as the next phase of its continued development: the groundbreaking ceremony is scheduled for 2026 with a projected opening in 2029. It will engage a workforce of about 400 at construction site, and 500 employed upon completion.

Designed by internationally recognized architect and designers Foster + Partners, the resort will be situated on 12 beachfront acres where Melia Nassau Beach resort once stood.  It will feature 350 rooms and 50 luxury branded residences overlooking the turquoise waters of Cable Beach. Amenities will include four new restaurants, a 14,000 square-foot world-class spa and fitness centre, luxury retailers, pools, and additional family amenities.

The new hotel will also feature 25,000 square-feet of dedicated indoor and outdoor event space, a 10,000 square-foot ballroom, 6,000 square-foot junior ballroom, and entertainment lounges.

These initiatives will aim to enhance guest experiences and create hundreds of new jobs for Bahamians, ensuring that Baha Mar continues to be a key driver of economic success.

“This dawn of a new chapter for Baha Mar is a signal to the world that The Bahamas is open for business, ready to embrace new opportunities, and steadfast in our vision of sustainable growth.

“Baha Mar’s continued growth is a powerful demonstration of what can be achieved through true partnership,” the prime minister said.

He added that the expansion reaffirms the strength of the government’s relationship with CTF BM Holdings and its parent company, highlighting their deep-rooted commitment to the country’s development.

“Let this be a model for future projects — where collaboration, mutual respect, and shared goals can unlock extraordinary potential,” he said.

Tourism Minister Cooper called it a “transformative announcement”, and that Baha Mar has already provided a significant boost to the local tourism product over the past seven years.

He said this speaks to the “long-term commitment” by a significant corporate citizen that the nation is poised for prosperity, and that it was “a big day for tourism and investments.”

Baha Mar’s Graeme Davis, too, underscored the importance of the expansion project to the Bahamian economy.

“Baha Mar is committed to creating spectacular experiences and this $350 million capital investment in our world-class resort collection underscores Baha Mar’s role as a catalyst for continued economic growth and job creation in The Bahamas,” Mr. Davis said, adding that Baha Mar was grateful to the government for its continued support and the collaborative partnership in bringing about this new development.

In conclusion, the prime minister said, “Friends, we are entering a brave new era.  An era defined by the remarkable investments we see today and the full maximization of Bahamian potential.

“While we celebrate the expansion of Baha Mar and welcome new investments, what matters most to me is ensuring that Bahamians are not just participants, but leaders in our tourism industry,” he said.

 

PHOTO CAPTIONS

BIS Photos/Kemuel Stubbs

Header: The Government and Baha Mar entered into a Heads of Agreement for a $350 million expansion of the resort on Cable Beach. The agreement was signed during a press conference held on Wednesday, September 18, 2024 at Rosewood, Baha Mar.  Pictured from left: the Hon. Philip Davis, Prime Minister and Minister of Finance; Phylicia Woods-Hanna, Director of Investments; Secretary to the Cabinet, Nicole Campbell; Graeme Davis, President of Baha Mar; Alistair Chisnall, Partner, GrahamThompson; Sandy Sands, Baha Mar Senior Vice-President; and the Hon. Chester Cooper, Deputy Prime Minister and Minister of Tourism, Investments and Aviation.

1st insert: The Government and Baha Mar entered into a Heads of Agreement for a $350 million expansion of the resort on Cable Beach. The agreement was signed during a press conference held on Wednesday, September 18, 2024 at the Rosewood property.   Pictured left to right: Phylicia Woods-Hanna, Director of Investments; the Hon. Philip Davis, Prime Minister and Minister of Finance; Secretary to the Cabinet, Nicole Campbell; Graeme Davis, President of Baha Mar; Sandy Sands, Baha Mar Senior Vice-President; and the Hon. Chester Cooper, Deputy Prime Minister and Minister of Tourism, Investments and Aviation.

2nd insert: Government and Baha Mar officials arrive for the signing of a Heads of Agreement for a $350 million expansion of the resort on Cable Beach.  The HOA was signed during a press conference, September 18, 2024 at Rosewood, Baha Mar.   Pictured from left are the Hon. Chester Cooper, Deputy Prime Minister and Minister of Tourism, Investments and Aviation; the Hon. Philip Davis, Prime Minister and Minister of Finance; and Graeme Davis, President of Baha Mar.

3rd insert: The Hon. Chester Cooper, Deputy Prime Minister and Minister of Tourism, Investments and Aviation looks at the renderings of the expansion of Baha Mar.

Bahamas News

OVER 209,000 BAHAMIANS TO DECIDE NEXT GOVERNMENT IN TUESDAY’S GENERAL ELECTION

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Polls open nationwide as rallies, controversy and endorsements close heated campaign season

 

The Bahamas, May 11, 2026 – Temperatures across The Bahamas on Tuesday, May 12 are forecast to reach a high of 87 degrees Fahrenheit, with “feels like” temperatures expected to climb even higher — but the heat is not expected to disrupt the flow of voters to polling stations which open nationwide at 8 a.m.

More than 209,000 registered voters are expected to cast ballots in the country’s 2026 General Election, which will determine who forms the next government of the Commonwealth of The Bahamas.

Polling stations across New Providence, Grand Bahama and the Family Islands will remain open until 6 p.m., with all 41 House of Assembly seats being contested in what has become one of the country’s most energetic and closely watched election campaigns in recent years.

The governing Progressive Liberal Party and the opposition Free National Movement are fielding full slates of 41 candidates each, while the Coalition of Independents has emerged as a significant third-force movement with 40 candidates contesting seats nationwide.

Public schools throughout the country are closed Tuesday as many campuses are transformed into polling stations, while ballot boxes have already been dispatched to the Family Islands ahead of voting day.

The Parliamentary Registration Department has meanwhile reminded employers that registered voters are legally entitled to two hours off to vote in addition to their normal lunch break and has also issued guidance aimed at maintaining orderly conduct at polling locations.

The final days of campaigning transformed the country into a sea of rallies, motorcades, town halls and political events stretching from Exuma and Long Island to Abaco, Bimini, Eleuthera, Andros, Inagua and Grand Bahama.

The PLP closed its campaign with the message “Choose Progress,” arguing the Davis administration has strengthened the economy, expanded social support and advanced national development projects.

The FNM campaigned heavily on accountability, affordability and governance reform under the slogan “We Work for You,” while the Coalition of Independents sought to position itself as the country’s disruptive alternative with the declaration: “Change ain’t coming — change is here.”

The campaign season also drew international attention with former NBA player and businessman Rick Fox attracting celebrity endorsements from basketball legend Shaquille O’Neal, actress Vanessa Williams and reggae icon Buju Banton through widely circulated video messages.

Adding further unpredictability to the race are at least 13 independent candidates contesting seats across the country, including former Prime Minister Dr Hubert Minnis in New Providence’s Killarney constituency, former Cabinet Minister Frederick McAlpine in Grand Bahama’s Pineridge constituency and Leroy Major in Southern Shores on New Providence — all seeking to break through the dominance of the country’s traditional party structure.

Meanwhile, election officials faced controversy in the campaign’s final hours after confirming that fewer than 150 voters, around 1 percent of electors had been mistakenly omitted from the register but would still be allowed to vote Tuesday — a decision questioned publicly by FNM Leader Michael Pintard amid broader concerns over voter integrity and election procedures.

Despite the political tensions, election officials say preparations are complete.

By Tuesday night, Bahamians are expected to know whether the PLP secures a second consecutive term, whether the FNM returns to office, or whether independents reshape the country’s political landscape.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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Bahamas News

BAHAMAS RATING UPGRADE: A WIN—BUT NOT A FREE PASS

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The Bahamas, May 4, 2026 – With elections days away, The Bahamas has picked up a headline-friendly win: a credit rating upgrade.

Here’s the one-liner that matters most:

A higher rating can mean cheaper borrowing for the government—over time.

That’s the upside. When lenders see less risk, they demand lower interest. That can ease the cost of financing big projects and managing national debt.

But that’s only part of the story.

Moody’s Ratings has upgraded The Bahamas to Ba3 from B1, citing stronger fiscal discipline, improved liquidity and a more stable funding strategy. It also points to better tax collection, controlled spending and continued strength in tourism as key drivers.

Moody’s expects the government to maintain solid primary surpluses—essentially bringing in more than it spends before debt payments—and projects national debt to decline from 72.5% of GDP to around 68% by 2027.

That’s progress.

But here’s the reality check.

The Bahamas is still below investment grade. In plain terms, the country remains in speculative territory, meaning investors still see a higher level of risk compared to more stable economies.

Debt, while improving, is still elevated. And the economy remains heavily dependent on tourism—a sector that can shift quickly with global conditions, weather events or geopolitical shocks.

Even Moody’s signals that more work is needed. Further upgrades depend on:

  • sustained reductions in debt
  • improved debt affordability
  • and continued access to favourable financing

So while the upgrade reflects real gains, it is not a finish line.

It is a signal that the country is moving in the right direction—but must stay disciplined to keep that momentum.

For voters heading to the polls, the takeaway is simple:

The Bahamas has strengthened its financial position—but the fundamentals still need work.

The progress is real.

The challenge now is to make it last.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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Bahamas News

VOTES SAFE, SAYS PRD AFTER BALLOT BOX FIASCO VIDEO

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The Bahamas, May 4, 2026 – The Parliamentary Registration Department is assuring the public that ballots cast during advance polling remain secure, following a viral video that sparked confusion and concern in eastern Nassau.

The footage, widely circulated on social media, showed a tense scene outside Thelma Gibson Primary School, where party supporters surrounded election officials as a ballot box was escorted to a waiting vehicle under police guard. The confrontation—loud, chaotic and closely watched—left many questioning whether proper procedures were being followed.

In response, the PRD moved to clarify.

In an official statement, the Department said the transport of ballot boxes in the Elizabeth and Yamacraw constituencies was conducted in line with established protocol. It explained that once polling concludes, the Presiding Officer is required to return sealed ballot boxes to the Returning Officer, who—accompanied by a senior police officer—then transports them to the Parliamentary Commissioner.

The PRD said it is satisfied that Returning Officer Sonia Culmer adhered to those procedures and that the ballot boxes remained sealed at all times.

But that account has been challenged.

PLP Elizabeth candidate Jobeth Coleby-Davis has called for an urgent investigation into what she described as alleged irregularities involving ballot handling. She claims that established procedures were breached, including the movement of sealed ballot boxes without the presence of party observers, and is urging authorities to review the matter.

The competing accounts have added to public unease following scenes that saw supporters from multiple political parties crowding officials during the transfer process, demanding clarity on what was taking place.

Individuals clad in PLP shirts, including incumbent Coleby-Davis swarmed the returning officer, police officers and the ballot boxes.  The charge was the woman in the crosshairs of the accusations was connected to the opposition FNM party.

There was nothing to validate this claim and there is no confirmed breach reported by election officials.

Ballots cast during advance polling are expected to remain secured until Election Day, May 12, when they will be merged with ballots in their respective constituencies and counted as part of the official tally.

For now, the PRD is standing firm on the integrity of the process—even as calls for further scrutiny grow louder.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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