Take-over marks official start of 25-year lease agreement for $250 million revitalization
NASSAU, BAHAMAS- Construction on the new Nassau Cruise port is slated to begin by January 2020, according to operator Global Ports Holding (GPH), who underscored Nassau was primed to benefit from significant global and regional cruise tourism boom.
GPH assumed management of Prince George Wharf last Wednesday, and in a recent advertisement, forecast destinations like Freeport will soon be transformed by port management deals with cruise liners.
The company has reportedly received more than 250 job applications for openings publicized through local newspapers, Facebook, LinkedIn, and its website.
“Nassau is perfectly primed to benefit from the significant global and regional boom that is impacting the cruise tourism industry,” the statement read.
“Countries like Antigua, Puerto Rico, and The Cayman Islands are currently making or planning huge investments in their cruise ports to allow themselves to take advantage of this fast-growing sector of the travel business.
It read: “Within The Bahamas, destinations like Freeport will soon be transformed by port management deals with several cruise lines and their partners. Additionally, cruise lines are dramatically enhancing and investing in their own Bahamian private island destinations in anticipation of increased passenger numbers in the months and years to come.”
The UK-listed, Turkish-headquartered operator manages 16 cruise ports throughout the Mediterranean, Asia-Pacific and Atlantic regions.
The handover represents the official start of the development phase of the company’s 25-year lease agreement with the Government of The Bahamas.
The government of The Bahamas will retain ownership of the port, collecting a rental fee from GPH each year as a part of its cruise port operating contract.
As for vendors, GPH said spaces will be designed to accommodate 60 approved Festival Place vendors who currently work in the area.
It stated no additional vendor spaces are being considered at this time, adding that various government agencies tied to the port remain employed with those agencies or have accepted positions within GPH.
The company said it expects to address several challenges over the next few years including degraded facilities, poor arrival experience, restricted vessel capacity, low expenditure per passenger and downtown traffic congestion.
“We will fulfill our mandate in partnership with several government agencies that currently ensure a smooth flow of port operations. It is anticipated that this $250 million revitalization of Prince George Wharf and the immediate surrounding area will have a cumulative economic impact of approximately $16 billion over the 25-year term,” the company stated.
“We will continue to consult cruise port and industry stakeholders in the transportation, retail, and other sectors to ensure that the best possible outcome is achieved.
The statement added: “We’re currently moving from the conceptual design phase to creation of the final project designs through engaging many stakeholder groups – retail, food and beverage, approved Festival Place vendors, Port Department staff, and Ministry of Tourism staff members.”