A deal to revitalise downtown Nassau in the Bahamas was stuck between the government and private investors recently, much to the delight of the locals and real estate developers. According to the deal, the main shipping terminals would be moved from the ultra-valuable Nassau harbour front to a more effective and environmentallyfriendly area to the west of the main harbour.  The government will develop a new freight hub and transform the area into a charming harbour-front city. This will create new opportunities for commercial and residential projects in the state. It is a positive move for the real estate industry after the government announced a 2 per cent rise in stamp duty, which was seen as a blow to the island’s recovering property market. Recent speculations have hinted that Bahamian real estate market is ‘slow’ and the oil spill from the Gulf of Mexico could devastate the real estate market if it heads towards the Bahamas. |
