New-look retail to feature as part of $250m Nassau Cruise Port investment

By Luke Barras-hill |

Nassau-GPH-investmentGlobal cruise port operator Global Ports Holding (GPH) is to invest up to $250m in expanding capacity and transforming the cruise passenger experience at Nassau Cruise Port in the Bahamas.

Nassau Cruise Port Ltd (NCP) – a consortium comprising GPH, the Bahamas Investment Fund and the Yes Foundation – has struck a 25-year port operation and lease agreement with the the Bahamas government covering the Prince George Wharf and its related areas.

Included in the plans is a capital injection to improve retail facilities, alongside the construction of a new terminal building containing new food & beverage units plus space for an event and entertainment area.

BAHAMIAN RETAIL CUES

“The new retail area will offer a great shopping experience to cruise passengers with the ability to experience Bahamian culture by providing retail space for local artisans and farmers,” read a statement. “Underpinning the whole development will be key environmental stewardship considerations.”

TRBusiness has reached out to GPH for further detail.

A 24-month project will regenerate Nassau’s port and town, integrating the port into Bay Street and the downtown district as GPH works to provide additional business opportunities for the community.

Nassau-overview

As the capital of the Bahamas, Nassau possesses a unique combination of beauty, culture and heritage.

Once work completes, total revenues are expected to be in the range of $35-40m per annum with the new waterfront expected to serve as an international tourist attraction in its own right.

Improved transport connections and infrastructure such as an electric tram at the terminal will provide a seamless link between the ships and the terminal.

PAX VOLUMES TO LIFT 50%

As an idyllic hotspot, Nassau draws more than 3.7m passengers per year and is situated close to the globe’s largest cruise port in Miami.

Global Ports Holding says the agreement ‘marks a truly transformational moment for GPH’ in line with plans set out at the time it announced its IPO in April 2017.

CEO Emre Sayin said: “We are excited to apply our best practice model to develop the cruise offer in Nassau. Nassau will now become the biggest cruise port in our portfolio, increasing our passenger volumes by 50%.

“The GPH team very much looks forward to working with our partners, the cruise lines and the people of the Bahamas to reinvigorate the iconic cruise port and to make Nassau a great experience.”

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