The Tribune

FOLLOWING launches in London and Asia, Baha Mar announced yesterday the launch of its luxury residences in New Providence.
Rick English, Sr Vice President of Residential Sales for Baha Mar said that during the past two months, the company had been focused on ‘building excitement’ in global markets for owning a residence at Baha Mar.

Officially launching the company’s residential sales in Nassau yesterday, he said: “Initial interest and sales are exceeding our expectations. We are now pleased to announce that we have selected five local real estate firms to represent Baha Mar.”
During the past week, Baha Mar has worked with Damianos Sotheby’s International Realty, H.G. Christie Ltd., Mario Carey Real Estate, Cross & Mosko Real Estate and Development Co., and ERA Dupuch Real Estate on the features at Baha Mar.

Training sessions included information on the range of the Baha Mar experience and featured previews of the residence designs and layouts.

Sessions also included instruction on the tax waivers and owners’ eligibility for permanent residency in The Bahamas.

Prices start at $1.5 million. Freehold title in the residences are sold by deed and can be held by the buyer in perpetuity.

Buyers have the option of year-round personal use of their residence or they can take part in Baha Mar’s rental programme, which allows for up to 90 days of personal use per year.

All property owners enjoy tax-free capital gains on resale. In addition, the rental programme allows owners to convert a portion of their personal usage for credits that can be redeemed for accommodations at more than 300 luxury hotels and resorts. All Baha Mar owners are eligible to apply for permanent resident status in the islands of The Bahamas.
In June Baha Mar launched its residences at the world-renowned Harrods department store in London’s upscale Knightsbridge district - an area in keeping with the image, and clientele, it is seeking to attract.

Scheduled for opening in late 2014, Baha Mar will boast a total of 2,200 hotel rooms, spread across four major hotel brands including Rosewood Hotels & Resorts, Mondrian, a Morgans Hotel Group property, Hyatt Hotels and Resorts, as well as the centerpiece of Baha Mar, The Baha Mar Casino & Hotel.

A total of 307 private, freehold residences are available for sale and located within each of the hotels.