Real estate broker Mario Carey announced this week that he has launched a full-fledged property management division that includes commercial property management.

The move is an expansion of a residential property management company launched in 2013 and headed by Tina Bain.

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The Minister of Financial Services Hope Strachan met with consultants from BKP Development Research and Consulting, an economic research and consulting firm based in Germany, and the World Trade Institute, an academic institution of the University of Bern, Switzerland, December 8, 2016 to discuss the development of a vulnerability study to assess the potential impact of trade agreements on the Bahamian economy.

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NASSAU, Bahamas, December 2016 (GLOBE NEWSWIRE) — Lumina Point, a small luxury boutique hotel, is located on a remote cay off Great Exuma in The Bahamas. This resort is eco-friendly and completed powered by solar panels.

Lumina Point features 12 rooms, a gym, spa, pool, restaurant, along with a pavilion for weddings and yoga overlooking its private beach. Jenny Kettel, general manager of the resort, said the hotel has been open since mid-February and there are plans to add 24 more rooms in the future.

Lumina Point is surrounded by a lush and unspoiled landscape of coppice forest. Guests can expect to be escorted from the Exuma airport and transported by boat to the private Stocking Island.

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CIBC FirstCaribbean Bahamas scoops Banker Magazine award for the fifth time. Watch a ZNS Network business news report here.
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An International Monetary Fund (IMF) team led by Jarkko Turunen visited The Bahamas from December 7-13 to update the economic and financial outlook following Hurricane Matthew. Despite significant damage, growth is expected to resume next year, supported by construction activity and work toward completion of Baha Mar resort.

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The Expedia Group has reported that travel demand for the Caribbean region has continued to increase on its websites. Top in-demand markets during the third quarter of this year when compared to the same time in 2015 included:

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Hong Kong conglomerate Chow Tai Fook Enterprises (CTFE) has confirmed its purchase of the unfinished $3.5b Baha Mar resort casino in the Bahamas.

On Monday, CTFE officially announced that it had signed a deal to own and operate Baha Mar, confirming reports that first surfaced in October that CTFE was looking to acquire the property from the Chinese bank that took over Baha Mar following the 2015 bankruptcy of the original developer, Sarkis Izmirlian’s Baha Mar Ltd.

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This is an excerpt from CalvinAyre.com as it appeared on December 13, 2016. For updates or to read the current version of this post in its entirety, please click here.

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Here follows a communication by Perry Christie, Prime Minister & Minister of Finance on the acquisition of the Baha Mar Resort by CTF BM Holdings Ltd (A Subsidiary Of Chow Tai Fook Enterprises Ltd) December 12, 2016:

Mr. Speaker,
It gives me great pleasure to announce that the Baha Mar Resort is being sold to a world-class hotel owner, property developer, and business conglomerate, CTF BM Holdings Ltd. (a subsidiary of the Hong Kong conglomerate – Chow Tai Fook Enterprises Ltd.).

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AF Holdings Ltd has announced that Ansbacher (Bahamas) Limited has completed the acquisition, with full regulatory approval, of 100 per cent of the shares of Edmond de Rothschild (Bahamas) Ltd from Edmond de Rothschild (Suisse) SA.

This acquisition is a result of The Edmond de Rothschild Group’s decision to concentrate its activities and focus on its home markets.

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The Interreg V Caribbean, a multimillion dollar European Union-funded programme to strengthen regional partnerships, will be officially launched in St. Lucia December 14, 2016.

In addition to boosting the economic competitiveness of the region’s countries, the Interreg V Caribbean programme will also respond to environmental challenges and health issues, while promoting the joint cultural heritage of the region, according to EU officials. The programme focuses on priority areas such employment and innovation, natural hazards, the cultural environment, public health and renewable energy.

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