The Pointe Garage Officially Opens in Nassau: PM’s Remarks

Salutations….

I am particularly pleased to have this opportunity to say thank you to China Construction America, the owners of Neworld One Bay Street, the developer of The Pointe, and its parent company, China State Construction and Engineering Corporation for their continued commitment to The Bahamas and to congratulate its Neworld’s
executives on the successful execution of Phase One of their ambitious master plan for Nassau’s harbour front.

This beautiful Garage represents the initial phase of a plan to substantially transform the City of Nassau through the master planning of a beachfront branded condo-hotel and marina resort; expansion of the entertainment and retail offering in the downtown area; development of other unique sporting and entertainment venues and the creation of new and innovative commercial products, all of which will serve to enliven and re-energize our nation’s capital.

This fully automated Garage, with nine hundred (900) parking spaces on seven floors, which I am told will be offering corporate rates to the public, will certainly help to alleviate congestion and improve traffic flow in the downtown area. The Garage includes a Roof Top Bar and offers for sale six (6) three thousand square foot ‘live and work’ condo units as an ideal option for those who wish to completely eliminate the daily commute to and from work.

China Construction and Neworld took the decision to extend their investment in The Bahamas at a time when we were faced with the crippling effects of the Baha Mar work stoppage and insolvency proceedings, when they, like other creditors of Baha Mar,were uncertain whether they could recoup their losses. Neworld has since has injected over ten million dollars into the economy during the construction of this Garage, employing over 500 Bahamians, representing the majority of workers on site during the construction period.

Neworld also contracted the services of over one hundred local sub-contractors, suppliers and service companies during its various stages of the Garage’s development, further stimulating employment at a critical juncture in New Providence’s economic cycle.

As a growing conglomerate in the region, with real estate, construction, infrastructure and resort projects in major metropolitan cities of the United States, Canada and in Panama, China Construction had the option of other locations in which to invest, but with the establishment of Neworld has chosen to deepen its ties with The Bahamas in a very substantial and meaningful way.

There is no question that their master plan for the western corridor of downtown Nassau will have far-reaching impacts on the Bahamian entertainment and cultural scene with significant influence brought to bear on future life-style choices, work habits and cuisine.

With successive phases of the master plan’s development coming on stream we can expect to see a transformation of our waterfront and the beginnings of a revival of the City of Nassau in a way that will meet the needs of twenty-first century Bahamians, residents and visitors alike, thus restoring prominence to one of the most attractive and dynamic city centres in the Western Hemisphere.

I should also like to take this opportunity, while the Chairman of China Construction America (CCA) is with us, to mention that I have asked the Developer to participate in the restoration of the public beach all the way from their western boundary along Junkanoo Beach down to the Fish Fry and to construct a boardwalk that would connect the Fish Fry to the development. The public will have access along the public beach to the Pointe.

Additionally, I am asking the Developer, which is one of the world’s largest construction companies, to partner with the Government in solving the flooding problem that occurs along West Bay Street in the area between the Pointe stretching west to Chippingham Road.

Suffice to say that for those who see the glass as half full, the birth of this project by Neworld represents the dawn of a new era for the downtown area; an era of hope,opportunity, dynamism and progress. And it could not come at a more opportune time.

Ladies and gentlemen, I now ask that you please join me in thanking China Construction America and Neworld for their vision, sustained partnership and continued support of the Commonwealth of The Bahamas.

Thank you.

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