The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

THE London launch of the $2.6 billion Baha Mar project's 303 luxury residences has generated significant interest, a senior executive said yesterday, telling Tribune Business: "We were very encouraged."

To give it an extra boost, and matching their high-end profile, Baha Mar launched the 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.

Robert Sands, Baha Mar's senior vice-president for external and governmental affairs, told Tribune Business: "We are very satisfied by the level of interest at the reception and launch recognising that our promotion at Harrods will continue for another week.

"The exposure that we have received and the interest not only in the Bahamas but also the Baha Mar residences was extremely encouraging, so now we are working those leads very diligently."

The Baha Mar project is being showcased in the Harrods window on the corner of Brompton and Hans roads for 20 days between June 10 and June 30, in a bid to attract additional interest and give an idea of the project's scope.

According to Mr Sands, 175 high net worth persons were present at the major reception which promoted Baha Mar's ultra exclusive residences.

"I think we were very encouraged by the persons who were invited and turned up and their level of interest but also the networking community and the word of mouth recommendations that those individuals can covey to perspective buyers I think was extremely positive," he said.

Mr Sands added: "Within the Baha Mar project we have 303 condominium offerings of which participants can buy at different levels and at different rates of pay but also allow them to participate in the rental pool we have and we share in a revenue split from that revenue pool. It's an interesting and creative form of investment."

"Of the 2,200 new rooms we have, 303 are actual condominiums that will be owned by individuals who will put them back in the rental pool for various guests to use and they share as part of the income derived from the renting of those condominiums."

Mr Sands said that based on the level of interest thus far and reservations received, the developer was well on its way to selling the 303 condominiums.