BaRRMaXX: Exuma Properties

Thursday, March 27, 2008

Exuma Properties

One of the affiliates of BaRRMaXX is now selling lots on a fully Bahamian owned development project. Sunshine Property Development and Management Company is developing Sunshine Estates on Ridge Pond just 1200 ft. from Emerald Bay. BaRRMaXX also has properties in this area that are currently being surveyed. These are in addition to two other properties, a 15 acre tract of land just across from the Bank of The Bahamas, in Georgetown Exuma, with an asking price of 10 million dollars (U.S.$10,000,000.00), and a 10 acre tract of land just opposite Crab Cay (which is now under development), with an asking price of 9.5 million dollars (U.S.$9,500,000.00). There are also two 50 acre properties in Hermitage Exuma with a negotiable asking price in the range of five million dollars (U.S.$5,000,000.00) each. All of our property owners are in possession of clear title.

SUNRIDGE lots range from U.S. $450,000.00 to U.S. 1.5 Million dollars. Sunridge will also offer condo-tel units. 36 Condominium/Villa units to be designed, built and managed by Sunridge Estates:
Eleven one bedroom, 1 ½ bath, complete units
@ $640,000.00 each
Eleven two bedroom, 2 ½ bath, complete units
@ $850,000.00 each
Eleven three bedroom, 3 ½ bath, complete units
@ $1,200,000.00 each

Exuma Properties showcased by BaRRMaXX also include:Nancy Skinner Island (below): Just off of Moss Town - 38 acres, ten million dollars (U.S.$10,000,000.00).

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The Bahamas Government

One of the signature Christie initiatives introduced under the former Government of The Bahamas is the ambitious task of bringing a high level of development to every major Island of the Country. If for no other reason, former Prime Minister Christie will be recorded well in history as a great visionary because he is the first of Bahamian leaders to approach the infrastructural progress of The Bahamas in such a systematic and well planned way.

But Investing in The Bahamas has always been an essential part of survival. Prime Minister Ingraham, the sitting Prime Minister of this great Country, was in his first, second, and now third term, committed to attracting high quality investment projects to The Bahamas.

Governance here brings with it a certain level of continuity generally. So althoug there has been a change in Government recently, there is still a red carpet policy for foreign investors who want to do business here, and a climate of investor friendly policies and incentives. Even in the face of a looming U.S. Recession, the Government of The Bahamas remains unflinching in its optimism with respect to the potential of the Bahamian tourism market.

The current Prime Minister has proclaimed in his 2008 “Report to the Nation” that:
"In these circumstances, there will likely be sufficient resilience in the Bahamian economy to fuel significant job-creating growth during 2008. This will be due primarily to a number of foreign investment projects and substantial public infrastructural work which we shall be undertaking."

There can be no doubt therefore, that The Bahamas with its specialized approach to anchor developments on less developed Islands, is the right Country to invest in with respect to environmentally sound, mixed use tourism based, developments.

Please visit http://www.bahamas.gov.bs/ for instructions and contacts for investing in The Bahamas.

Why Tourism

Reports reflect that over 900 million persons globally, travelled for vacation purposes in 2007. This figure was of course an increase from the year before. It represents that more and more people are vacationing. There is indeed a deep market. But even with these raw figures, the types of vacations are so diverse, we can never truly begin to scientifically understand this market which stands to be ever redefined.

Decades ago, a vacation was typically going somewhere other than where one lived for a short stay in a hotel. Such is not the case now, people travel for all sorts of reasons to all sorts of places for all sorts of time frames … whew. Yet unlike its Eastern and Middle Eastern competitors, The Bahamas in recent years has not found the formula to attract more visitors to its shores. Once a world leader in Tourism, this Country is at a cross-roads with what is its main industry. We are being forced now to be more creative.

And the creativity is definitely here. One of our affiliates, Global Nexus also trading as HAllen Strategists has a myriad of ideas on how to expand tourism, whether medical tourism, corporate tourism, educational tourism, tourism related to partnerships with the music and film industries or simply eco-nature based tourism. BaRRMaXX is certainly not just a fancy real estate spin off – we will introduce you to innovative ideas. We are interested in quality developments. We are interested in bringing all of the stakeholders to the table to make big things happen.

As stated earlier, former Prime Minister Christie brought focus to a special kind of tourism venture, the condo-tel, second home market. These, and the intimate boutique hotel will serve us well for many years to come. Even though there are billions and billions of dollars worth of these kinds of investments in the pipe-line for The Bahamas, there is so much room for more.

Why The Bahamas

Perhaps, the most lucrative spin –off opportunities associated with the concept of an anchor property on each Island is the second home for wealthy non Bahamian residents. Truthfully, serious investors doing business in The Bahamas, are not just building hotels – inclusive in their investments, billion dollar investments, are designate second home communities. Again, this is because the experts have discovered that Tourism is not just about that couple or family, visiting a safe tropical destination for a week or a weekend but Tourism these days is about time-share condominium markets and the affluent finding comfort in leaving the frustrations of First World industrial life for weeks or even months of peace in paradise on earth.
As a result, the time share condominium market or “Condo-tels” as they are now called, is at its hottest and the International second home market is attracting the affluent from around the world. It is such a phenomenon, that the little country, Dubai is creating man made Islands to facilitate the demand.
The Islands of The Bahamas are not man made. The over 700 Islands and over 2000 Cays, are just now being discovered for its unique natural make-up, positioning next to the most powerful Country in the World, The United States, and its peaceful and stable democracy. The world is watching in full amazement as the more investments are announced and established, in this innovative Country, the more international interest/demand is also guaranteed. The Bahamas has strategic advantages over all of its competitors. It is an untapped well of touristic potential; and a well paced second home market should ensure steady economic growth for the next few decades.But to date, it has been the foreign investor who has tapped the well …. a trend which must change if Bahamians are to truly play a meaningful role. It was the late Sir Lynden Pindling who once advised that those who own the land, own the Country …..

Exuma's Success

BaRRMAX offers quite a few properties in The Exuma Chain including:

Acreage on Nancy Skinner Island

Smith Hill (The Hermitage Exuma)

Michael Jolly Cay

Tommy Young’s Cay

Glass Cay

And others …

In addition to the investment agreed between the Government of The Bahamas and EGI Ltd., Exuma has been graced by the development of two other anchor properties. The first and most prestigious is the Four Seasons at Emerald Bay. Frommer's Review, adequately put the significance of this property’s presence in perspective,
“The quiet Exumas emerged from a sleep of centuries with the official opening of this resort in the winter of 2004. Its sweeping ocean vistas and tropical beauty frame an experience unique in this part of the world; the Out Islands have seen nothing like this in their history, and the resort is expected to change the entire character of the archipelago.”
This resort managed by one of the leading Hotel Chains in the World, Four Seasons, boasts of 5 and 6 star hotel suites and villas, overlooking the most pristine waters of the World, with a Golf Course designed by golfing icon, Greg Norman. Now also available at Emerald Bay is a 150 slip Marina Village, constructed in two phases, the first of which was opened on November 4, 2005. The Golf Course and Marina give rise for the demand of Second Homes for those attracted to them. The official website of the PGA with much enthusiasm listed an article on Emerald Bay, a segment of which informed its readers as to why it is so attractive,
“The Club at Emerald Bay Yacht and Social Memberships incorporate a five-star, full-service private yacht club with wet and dry slip memberships and member-only amenities that rival any exclusive club around the world. While under construction, the private yacht and social club memberships are available at an introductory rate.
Located only 10 miles from Georgetown International Airport, this deep-water megayacht facility is a 24-hour port of entry with notification for customs and immigration. The marina has a 150-foot entrance, 14-foot depth MLW and 800-foot breakwater approach. In phase two, a dry storage area for boats up to 40 feet.”
Copyright 2005 PGA.com. All rights reserved.
February Point, is the second anchor property that has brought additional attention to Great Exuma. It is mainly an investment of real estate wizardry, offering world class amenities and second home/ timeshare facilities for persons attracted to its Marina Village.
Taken from its website, www.februarypoint.com, it boasts of the following, “Located in the heart of the Exumas is February Point Resort Estates, an upscale resort community offering some of the most coveted oceanfront property found anywhere in the Caribbean. The island of Great Exuma is voted one of "The Top 5 Islands to Live On" by Islands Magazine, and February Point is one of the most sought after real estate on the island.
Situated on a private 80 acre peninsula overlooking the Exumas many tiny cays, coves and virgin beaches, February Point is designed to provide the perfect haven for those yearning for sunshine, unspoiled natural beauty and the unpretentious ambiance of The Bahamas' Family Islands.”

BaRRMaXX

Thursday, March 27, 2008

Exuma Properties

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The Bahamas Government

Safety & Security

Tourism

Why Tourism

Second Home Market

Palm Jumeirah

Why The Bahamas

Emerald Bay

Emerald Bay 2

Exuma's Success

February Point

February Point 2

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