The Tribune

By YOURI KEMP

Tribune Business Reporter

ykemp@tribunemedia.net

A south-eastern New Providence development is targeting 2030 for its full build-out with more stages to come after the current phase four.

Jak Hannaby-Cummins, Palm Cay's managing director, told Tribune Business that construction on the community's fourth phase will begin by next month and continue using its existing 300-plus workforce. Its first two phases were sold out before construction finished, and just one unit in phase three remains available for sale.

Confirming that “there are more phases to come after Phase IV", Mr Hannaby-Cummins said units will start at $1.275m with prices going up to $2.95m with four of them already sold. The units in Palm Cay's first two phases started from as low as $300,000 and for some lots went up to $6m.

Mr Hannaby-Cummins said: “Phase IV is just one phase. We have many phases ongoing right now. We have over ten different projects. We have projected sales over many phases.”

"We have One Marina, Phase three underway at the minute, which has about six months to run in construction. We’ve got the Cove that has three or four months to run in construction. We have Galleon Phase III, we have Palms, we have Little Palms, we have Cay Village and then we have various smaller projects as well.”