Autumn 2014

Real Estate & Property
Caribbean Queen

Exclusive residences at a luxury resort in a tropical island paradise in the Caribbean offer a “unique investment opportunity” for international property buyers, according to US real estate brokerage Douglas Elliman.

The Residences at Baha Mar feature an exclusive collection of 284 private residences with three distinctive residential options for buyers across multiple global hotel brands and is located within the $3.5-billion Baha Mar luxury resort located in Nassau, The Bahamas.

Billed as the largest single-phase resort development in the history of the Caribbean and set on 3,000 feet of white-sand beach, this must-visit destination will open its doors this December, featuring an elite collection of hotel brands with gaming, entertainment, private residences, shopping and natural attractions that reflect an authentic Bahamian experience.

The Baha Mar Casino & Hotel is the centrepiece of the resort, and includes a 100,000-sq-ft Las Vegas-style casino – the largest in the Caribbean. The Grand Hyatt at Baha Mar, the Rosewood at Baha Mar, and SLS Lux at Baha Mar complete the extraordinary accommodations at the luxury resort. 

For owners, each hotel brand offers a unique residential experience. 

The 92 ultra-luxurious Rosewood Residences at Baha Mar feature one-, two- and three-bedroom homes, including five four-bedroom, stand-alone beach villas. The residences offer up to 6,071 sq ft of spacious living areas, including terraces with unmatched views of the Caribbean Sea. 

Grand Hyatt at Baha Mar residences include one-, two- and three-bedroom residences, featuring up to 2,583 sq ft of luxurious living space. 

SLS Lux at Baha Mar offers 107 distinctive one, two- and three-bedroom residences featuring 829 sq ft to nearly 3,000 sq ft of chic living space. 

Prices for the residences range from $1.1 million to $12 million.

Owners of the residences may enjoy Baha Mar’s bespoke concierge services, including a personal concierge to book tee times, make dinner reservations, arrange spa bookings and help plan local excursions prior to arrival.  

Baha Mar will also feature many amenities including an 18-hole, 72-par championship Jack Nicklaus signature golf course; 200,000 sq ft of combined, flexible, state-of-the-art convention facilities including a 2,000-seat performing arts centre and two art galleries with the largest curated collection of Bahamian art in The Bahamas; more than 40 restaurants and bars; two spas, including the 30,000-sq-ft ESPA at Baha Mar; an extensive collection of designer retail boutiques and 20 acres of exquisitely landscaped beach and pool experiences, including a beachfront sanctuary with native Bahamian flora and fauna, as well as a water eco-park.

Baha Mar has named US brokerages Douglas Elliman and IMI Living to sell and market the residences on a global scale. Both teams have extensive experience selling real estate in the Caribbean and internationally, and will work together to market the property internationally. 

“Baha Mar is poised to redefine luxury resort living in the Caribbean and buyers can choose from the collection of 284 residences with three distinctive options,” says Neal Sroka of Douglas Elliman.

In addition to the many lifestyle benefits of owning a piece of exquisite beachfront real estate in the Caribbean, owners will also enjoy a number of investment benefits, he points out. These include:

• Freehold ownership, offering flexibility for owners;

• Eligibility to engage in private offshore banking in The Bahamas, which is a leading offshore financial centre;

• No local taxes on capital gains, inheritance, personal or corporate income, dividends and interest;

• Eligibility for permanent residence status in The Bahamas; and 

• A referral programme for lead generators.

In addition, a hotel leaseback programme will guaranteed a six per cent return on investment for two years. “The optional rental programme for owners includes a number of tax benefits including waiver of import duties, annual real estate taxes, duties and levies, up to 90 days of personal use per year while allowing the respective Baha Mar hotel brand to market and rent their residence to hotel guests, and a waiver of all customs duties at closing, which saves 25 per cent of the purchase price, and eliminates yearly Bahamian real estate taxes,” he elaborates.   

Nassau is a 35-minute flight from Miami and Fort Lauderdale in the US and the resort is less than a 10-minute drive from Nassau International Airport.

“Bahamas has been a stable independent democracy since 1729 and is English-speaking and we’ve seen strong interest from buyers across the globe due to the country’s stable financial marketplace and Baha Mar’s unique partnership with multiple hotel brands.  There are a number of investment benefits for owners, including freehold ownership and the appealing hotel rental programme that offers buyers an additional source of income,” he concludes.

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