The Tribune

By NEIL HARTNELL

Tribune Business Editor

nhartnell@tribunemedia.net

The British Colonial Hilton’s new owner yesterday urged the Government to “make a decision” quickly on its proposed masterplan to revitalise the whole of downtown Nassau, suggesting the area could become a “Bahamian Riviera”.

Daniel Liu, China Construction Company’s senior vice-president, described a transformed Bay Street as “an unfulfilled dream” for 50 years that, to-date, had failed to move forward.

Setting out the company’s vision for downtown Nassau at the annual Bahamas Business Outlook Conference, Mr Liu said it envisaged a public-private partnership (PPP) involving the Government, and existing Bay Street property owners and businesses, to revive the harbourfront.

He agreed with many of the concepts and suggestions previously voiced by local stakeholders, saying a redeveloped downtown Nassau should be “uniquely Bahamian and express the best elements of Bahamian architecture, culture and lifestyle”.

Mr Liu set out a ‘mixed-use’ vision for Bay Street, involving projects such as marina villages, retail, hotels and towers.

And, in common with the Downtown Nassau Partnership (DNP), he said downtown Nassau’s future involved “creating a community along the waterfront”.

Calling for downtown Nassau to become a ‘living city’, with Bahamian enticed back to live there, Mr Liu explained: “It’s our belief that commercial retail cannot support the entire development.

“Young Bahamians can support it, afford it and own it as their residence. I believe that together with Baha Mar, Atlantis and the British Colonial Hilton, the harbourfront can become a new destination, a Bahamian Riviera.”

Mr Liu revealed no details of the masterplan that China Construction has presented to the Christie administration, other than to say discussions were at a “very early stage”.

Yet he added: “That’s the masterplan we urge the Government to start looking into now. This [downtown Nassau’s revitalisation] has been a dream for 50 years, and nothing has happened.”

Further referring to it as “an unfulfilled dream and promise for a long time”, Mr Liu said: “We really urge the Government to step forward, take the lead and make a decision as soon as possible.”

Tribune Business revealed late last year that China Construction, in addition to its $60 million British Colonial Hilton purchase, had presented the Government with masterplan for the redevelopment of the entire downtown Nassau area.

Mr Liu yesterday described eastern Bay Street as “unsightly” following the departure of the shipping companies to Arawak Cay, an image that did little justice to “one of the most beautiful harbours in the world”.

He added that, as a result, the Bahamas was failing to maximise the “valuable land” and other resources in the area.

China Construction’s British Colonial Hilton acquisition, and plans to develop the empty six acres immediately to the west of the property, were described by Mr Liu as a potential “catalyst” for downtown Nassau’s redevelopment.

That project, he added, would create 250-300 construction jobs, and 500 permanent posts, for Bahamians.

“We plan to transform the area, the empty six-acre lot, into a new destination, a fun place where not only tourists go to enjoy things, but we provide entertainment and nightlife for Bahamians,” Mr Liu said.

Apart from the luxury condo hotel, Mr Liu said the project would involve eight to nine restaurants, movie theatre, nightclub, marina and retail village.

The senior China Construction executive said the Bahamas had “lost ground” among regional tourism competitors, slipping to fourth spot, due to lack of sufficient investment in supporting infrastructure.

He emphasised that China Construction, via its Hilton purchase and role as equity investor/general contractor for Baha Mar, had effectively put down roots in the Bahamas and was looking to expand into other construction/development projects in this nation.

With China set to make $250 billion available for investment in the Caribbean and Latin American region between 2015-2019, Mr Liu said China Construction was eyeing projects such as roads, water treatment and renewable energy.

He added that Beijing was expecting to soon receive an application from the Christie government to access a $3 billion fund that China has made available to the Caribbean region.

Mr Liu said the Bahamas would likely use this for debt refinancing and restructuring, Budget support and infrastructure projects.