The Tribune

By YOURI KEMP

Tribune Business Reporter

ykemp@tribunemedia.net

A rebranded Bahamian real estate firm generated $100m in property sales during its first week of operating under two international industry names.

Scott Durkin, Douglas Elliman’s president and chief executive, told Tribune Business the partnership with Knight Frank - which has led to the formation of the Isles Group - is already bearing fruit. “Just last week, they did $100m in sales. There were two or three large purchases and it’s really exciting.” he said.

Highlighting the continuing growth potential for the high-end Bahamian real estate market, Mr Durkin pledged that the Isles Group will “continue to put The Bahamas on the world map” as a destination for foreign buyers with a favourable tax regime and proximity to the US.

Douglas Elliman brings a focus on the US real estate market, while Knight Frank takes a more global view. Their tie-up, via the Isles Group, aims to create the largest referral network for Bahamian properties so that clients have maximum international exposure.

Paddy Dring, Knight Frank’s global head of prime sales and joint head of its private office, said: “We’ve never had the opportunity like we now have to offer our clients, both overseas and here in The Bahamas, access to the global markets.”

The Bahamas is one of the top markets for Knight Frank’s high net worth clients, and he added: “It doesn’t necessarily suit everybody because of family or business needs, but I think increasingly over the years we’ve seen more and more people considering it as a location in which to live and relax.”

“It’s safe. It’s easy access for many parts of the world. It has a history and reputation that is very strong and very known globally.” The Isles Group is headed by its chairman, David Dingman, and managing partner, James Mosko. It was originally founded in 2015 as Cross and Mosko before adopting its new name this year.