They are
saying: “Reasonably-priced offshore residence" - "nice beaches" - "friendly
people" - "stable government" - "English-speaking" - "reasonable
cost of living" - "close to USA with good access" - "view of the
water" - "on a golf course" - "modern supermarkets" - "social activities"
- "pristine environment, no pollution" - "no crime problem" - "no traffic
congestion" - "good investment" - "rental income potential" - "price appreciation
possibility" - "no property taxes” - "no income or estate taxes".
Is all this
possible in one place? Yes, it's all there on Grand Bahama Island.
Only 70 miles from Fort Lauderdale, Florida, Grand Bahama is in the crystal
clear, offshore sailing waters of the Gulfstream, teeming with game fish.
The beaches
are clean and almost deserted. The five 18-hole golf courses have no wait
tee-offs. Its easy to get to. There are over 30 international flights/day
from the USA and Europe.
The Bahamas
and especially Freeport, Grand Bahama, are in the early stages of a
resurgence brought about by the pro-investment new government that has
cut red tape for foreign investment and residency with no strings attached.
Foreigners may buy homes and land with the same rights as Bahamians. There
are no property or income taxes in Freeport.
Recently the
chairman of the Grand Bahama Port Authority, the private corporation that
developed Freeport, talked about the multitude of developments in the pipeline
for Grand Bahama.
"If only
50% of these plans come through, there will be a big boom," and he
described 1998 as the best year in the past 20. "The curtain is
going up and the economy is about to take off."
Investment
activity and upscale residential communities are sprouting like flowers
in spring with homes ranging from $120,000 to a million plus. DEVCO is
working on a posh subdivision at Fortune Cay, consisting of 60 custom cottages
and homes ranging from $350,000-$400,000.
A 220-unit
community is also planned at the Sir Charles Hayward Yacht Club, complete
with 130-slip marina and homes priced from $160,000 to $200,000. Also planned
are reasonably - priced condos on the championship Ruby Golf Course. Projected
pre-construction prices for 1 bedroom, fairway view condos are from $79,900.
Freeport
is called the Singapore of the Atlantic, for its vibrant, free-market,
economy; and Queen of Clean, for the island's squeaky-clean highways and
byways. Freeport, begun in 1955 as planned community was the dream
of American Wallace Groves.
World-famous
UNEXSO, Underwater Explorers Society, is a dolphin research facility where
you can swim with the dolphins. Grand Bahama offers other ecoadventures
like kayaking, hiking through remote mangroves to view birds and marine
life, reef and cave diving, parasailing and horseback riding on the beaches,
among many others.
There are four
first-class marinas and many waterways to explore including the Grand Bahama
canal which bisects the island and offers direct access to the Abacos to
the NE.
To travel
around the world in minutes, see Freeport's International Bazaar. This
collection of 80 shops and restaurants features virtual-reality settings
in Paris, Spain, the Greek islands, Denmark, Hong Kong and about 10 other
exotic locales.
Nearby Lucaya
boasts Port Lucaya Marketplace, a waterfront six-acre shopping, dining
and entertainment complex with island motif and a bandstand at Count Basie
Square.
The legendaryjazz
pianist built a home at Freeport. Entertainment includes jazz, rythym and
blues, limbo, raggae, fire dancers and more.
The Freeport
area has been chosen as the site for the first Footprints resort, a new
concept in resort destinations that combines upscale, secluded, romantic
vacations with educational and adventurous, environmentally sensitive activities.
The resort will consist of about 135 individual cabins nestled at the edge
of the Lucayan National Park at Gold Rock Creek.
Renovation
and innovation at the harbour, airport and hotels indicate serious tourism
development. A two-year cruise ship development plan will facilitate
the over one million cruise ship visitors/year that come to Grand Bahama
by sea. The harbour can now handle the world's largest cruise liners and
container ships.
Much of the
new economic activity is the result of a major investment by Hutchison
Port Holdings (HPH), a subsidiary of $30-billion Hutchison Whampoa of Hong
Kong and the world's largest port operator.
HPH purchased
50% of Freeport Harbour Company and built a $130 million transhipment container
port, the largest in the western hemispere. It will handle the largest
container ships afloat. HPH purchased 50% of Freeport International Airport
and began $6 million upgrade of facilities.
Hutchison Port
Properties (HPP) is aquiring 50% of the Grand Bahama Development Co. Projects
include $100-million plus development of 1,600 four-star resort rooms following
recent acquisition of beachfront resorts and acreage, and golf courses.
They are tearing down the hotel-casinos on the Lucayan Beach and replacing
them with new luxury hotel/casinos to rival Paradise Island at Nassau.
2,000 workers will be needed to complete the project on schedule.
It’s true.
“Things
are Better in the Bahamas”. If you havn’t been there in awhile - go
see for yourself. GB Airways(Laker) flys non-stop from 10 US cities in
association with Grand Bahama Vacations (800-545-1300).
The Caribbean
Property List (CPL), with over 3,000 listings is the largest resource of
properties for sale in the Caribbean, Bahamas and Latin America. See online
listings at http://www.caribpro.com