Finance

Troubled $3.5B Baha Mar Resort Job May Be Resuscitated

The Export-Import Bank of China is in the final stages of striking a deal with two real estate magnates to complete construction of the stalled, $3.5-billion Baha Mar Resort project in the Bahamas. In early November, the Bahamas Tribune reported that the Ex-Im Bank of China was nearing a deal with a real estate investment bank led by Andrew Farkas, in partnership with Sol Kerzner. Last July, Baha Mar Ltd., the development’s previous owner, filed for Chapter 11 bankruptcy protection, but a U.S. judge rejected the legal move after the Bahamian government fought to retain authority. Baha Mar Ltd. estimated the 3.3-million-sq-ft development was 97% complete when a subsidiary of China Construction Americas halted work.

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Scott Judy is ENR’s Managing Editor. His roughly 34 years as a construction journalist began with an 11-year stint visiting and writing about construction projects in the Midwest region of Missouri, Kansas, Iowa and Nebraska. Then, in 2000, Judy helped launch ENR Southeast, now known as ENR Texas & Southeast. After all these years, Judy says his favorite part of being an ENR editor is visiting job sites and learning how—and reporting on—a team’s approach to overcoming the project’s design and construction challenges. And Judy says he never turns down an invitation for a project visit.

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