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Bahamas Real Estate Investment Project
Posted by: Andrew Carey on 7/19/2008 8:49:29 PM
Funding Needed:
Above $1mil 		Category:
Real Estate / Construction 		Website :
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Location :
Bahamas The 		Viewed : 153 times
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Description:
REICO International Limited is looking to fund a US $20M vacation home development project in the Bahamas. There are two sites, Nassau (70 units) and Eleuthera (112 units). The project will construct two luxury communities on the beach with club house, pool court, and bar & grill. The homes will be sold to non-Bahamain investors and placed into a professional managed rental pool. The estimated return on investment is 300% over a three year period. There is currently a huge market for vacation homes in the Bahamas. The strong economic situation in Canada and Europe has increased the number of visitors, from those countries, with high disposable incomes that can be used for investing in second homes. This has created a very vibrant second home market in the Bahamas. Home construction is not able keep up with demand. Homes sale shortly after ground breaking. The local housing industry enjoys 10% growth per year. The number of Canadian visitors has increased by 26% during the first 6 months of 2008. This is due to more aggressive marketing in Canada by the Bahamas Government and more direct flights from Canada to the Bahamas. The Bahamas Government has just passed the Nassau Revitalization Act of 2008 to allow for the import of construction material duty free into the Bahamas for use in the construction of homes in Nassau. We are looking for an investor or group of investors to provide $15M to $20M.

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