The British Colonial Hilton hotel in Nassau, Bahamas has been sold to China State Construction Engineering Corp. CSCEC will redevelop the property, which was renovated just five years ago, and transform it into a luxury hotel. The company will build condominiums on an adjacent tract of land. The development will also include a parking garage, rooftop garden, meeting space, high-end retail, restaurants, a nightclub, a marina and a boardwalk.
The hotel was once used as a film location for the James Bond spy movie Thunderball.
Bahamian Prime Minister Perry Christie called the deal “beneficial to the country.” He said the project will create several hundred short-term construction jobs and 500 permanent jobs.
CSCEC also has a $150 million stake in the $3.5 billion Baha Mar project on Cable Beach.