Who is Sarkis Izmirlian?
He is a billionaire residing in the Bahamas. He was born in June 1972. He is married to Katie. His father Dikran founded Alimenta. Sarkis is known for developing the Baha Mar Resort.
Alimenta was founded by Dikran Izmirlian. Izmirlian is a Swiss-based businessman with an Armenian background who made his fortune by creating a near-monopoly on the world’s peanut market.
He is chairman and chief executive of Alimenta, a company that has built up a large interest in the Gambian peanut market. Alimenta has established effective control of the processing and export of peanuts in Gambia.
In 1999, Gambia’s government accused Alimenta of money laundering and seized processing plants belonging to the company. Alimenta successfully sued Gambia in international courts and, in 2001 the Gambian government agreed to pay USD 11.4 million in compensation, money that was partly met using grants from the EU.
Golden Peanut Company
In 2011 Alimenta sold its 50% shares in the Golden Peanut Company to Archer Daniels Midland for USD 218 million.
Izmirlian owns London Bridge Holdings, a Bahamas-based company that owns London City Hall and leases it to the Mayor’s office of London.
Izmirlian also owns the rest of the 13-acre site City Hall sits upon, which is the second-largest commercial development in London and lies on the city’s south bank, between the Tower Bridge and the London Bridge.
In 1994, Dikran established the Izmirlian Foundation in Yerevan, to support education and business.
Baha Mar Resort
As (former) Chairman and CEO of Baha Mar Ltd. Sarkis Izmirlian was the driving force behind the Caribbean’s largest single-phase hospitality investment in history.
The USD 3.5 billion resort, financed by the Export-Import Bank of China, is currently the largest project under development in the Western Hemisphere.
Baha Mar acquired over 400 hectares of land within one kilometer of the beachfront and will completely redevelop the Cable Beach area and re-routing Nassau’s main road around the perimeter of the property.
In 2015 Baha Mar filed for bankruptcy. Izmirlian’s BML Properties lost its entire $845 million equity investment in the project. Bahar Mar was later bought by the Hong Kong-based Chow Tai Fook Enterprises.
In 2017 BML Properties company filed a $2.25 billion lawsuit alleging a “massive fraud” by the Chinese contractor of the luxury hotel and casino project.
Izmirlian Net Worth
His net worth is estimated at US$ 1 billion.