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By Rachel Pinder
NASSAU, BAHAMAS- Plans are underway for construction of the world class destination resort Baha Mar to begin in January 2011 and hopes of economic development, jobs and a good return on Bahamas investment property purchases already is in full swing.
Baha Mar developers say the resort will catapult The Bahamas into the position among the finest tourist destinations in the world, says Heather Carey, a sales agent with Island Living Real Estate, a Nassau, Bahamas real estate agency.
“In the near future, the construction projects will attract substantial numbers of foreigners- from workers to executives – all of whom will be in need of Bahamas rental property to lease during the construction phases,” Carey says.
It is projected that 4,000 jobs will be created during the construction phase alone, according to information posted about the project on the Baha Mar website.
Looking at it from a long term approach, the development is expected to draw millions of vacationers and business travelers each year to its six hotels, convention center, casino, world-class golf course and retail village.
Once construction is finished, there will be a substantial increase in employees in the area, from mid-level managers to senior executives to run the hotels and other facilities once they are completed. Information posted on Baha Mars website projects that between 6,500 and 7,000 new permanent jobs will be created at the resort.
“In a perfect world, this means really good opportunities for high returns on investment properties at all ranges in the western area,” Carey said. “But it is likely that the best opportunities will be on Bahamas homes for sale in the $130,000 to $2 million or so range.”
Baha Mar is being erected near Atlantis on 1,000 acres in the Cable Beach area of Providence Island. Plans for the development include 3,000 hotel rooms, a 50-foot circular waterfall, 3,000 feet of beachfront, chef-branded restaurants and several entertainment venues, to name a few of the details.
The Baha Mar project first was announced in 2008, but it stalled due to the difficult economic crisis worldwide. Planning of the Bahamas property got underway once again when a Chinese bank provided $2.5 billion in financing in July 2010.
The Associated Press reported in December 2010 that four Bahamian construction companies have signed preliminary contracts totaling $15 million, which are anticipated to create 450 jobs once they receive government approval.
About Island Living Real Estate
Island Living Real Estate has more than 25 years of experience in real estate sales and rentals throughout the Bahamas. Island Living’s main office is located in one of Nassau’s oldest historic buildings on Bay Street, named “Red Roofs.” Red Roofs was built in 1896 and has been home to various families, a Gourmet Deli and now Island Living.
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2011 Sinai Marketing and Island Living Real Estate. Authorization to post is granted, with the stipulation that Sinai Marketing is credited as sole source. Linking to other sites from this press release is strictly prohibited, with the exception of herein imbedded links.
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About the Author: If you would like more information about Baha Mar or you wish to learn more about
Eleuthera
, Bahamas
real estate
and Bahamas
homes
for sale or available properties elsewhere in the Bahamas call for a consultation with a real estate agent: 1-242-322-7979/80.
Source:
isnare.com
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