Global launch of Baha Mar takes place at Harrods
Thursday 14th June 2012
Baha Mar, a high-end resort project being built in the Bahamas, launched its residences at the world renowned Harrods department store in Knightsbridge, London, this week.
To launch the resort, Baha Mar is being showcased in the Harrods windows on the corner of Brompton Roadand Hans Road from 10th to 30th June 2012, giving potential purchasers the opportunity to understand the scale and luxury of Baha Mar, currently the largest resort under development in the Western Hemisphere.
Don Robinson, President of Baha Mar, commented: “To launch Baha Mar at Harrods during one of London’s most exciting summers is an absolute honour, and a perfect complement to Baha Mar’s vision. We are creating not only the largest resort project in the Caribbean, but also introducing a lifestyle not currently available to buyers in this region. At Baha Mar, residents and guests will be able to enjoy the breathtaking beauty of The Bahamas and still find the luxury and excitement of their favourite cosmopolitan destination.”
Luxury hotels and residences
Scheduled for opening in late 2014, Baha Mar will feature a total of 2,200 hotel rooms, spread across four major hotel brands including Rosewood Hotels & Resorts®, Mondrian, Hyatt Hotels and Resorts, as well as the new 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, offering a lifestyle choice to suit all buyers.
Baha Mar will also feature convention facilities, with a combined 19,000sqm of space, portions of which can also double as an entertainment and sports venue. Other amenities will include a 19,000sqm retail and entertainment experience, combining upscale shopping boutiques with Bahamian arts and crafts, galleries, chef-branded restaurants and nightclub and entertainment offerings.
Baha Mar is fully funded and will be built in a single phase, with all hotels, residences and amenities completed by opening date in late 2014. The US$3.5bn project has received $2.45bn of financing by the Export Import Bank of China, and will be constructed by China Construction Americas.
Baha Mar will create a total of 8,000 permanent jobs for Bahamians when complete. It is estimated that Baha Mar will contribute US$1bn to the local economy and generate a GDP contribution of $11.2bn (10%) over a 20-year period.
Prices for The Residences at Baha Mar start at US$1.5m (£965,000) with purchasers having the option to enjoy year-round personal use of their residence or elect to participate in Baha Mar’s Rental Program and still enjoy up to 90 days personal use per annum.
By entering into the Rental Program, owners can save approximately 25% of the purchase price due to the tax waivers introduced by The Bahamian government for foreign investors and enjoy tax-free rental revenue streams.
Also, the rental program allows owners to convert a portion of their personal usage for credits that they can use for holidays at more than 300 luxury resorts around the world. All owners are entitled to apply for permanent resident status in The Bahamas.
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