real estatereview
dec
2003


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P1 From John's Desk- Looking to 2004

P2 Wallace Tutt - Designer to the Stars Comes Home to Harbour Island

P3 Making Successful Counter Offers

P4 Picking Your Time to Sell

P5 The Albany House - A Six Star Plantation in the Spirit of Old Nassau

P6 How to Buy Canal Properties As An Investment

Plus...


Christie Holiday Hours:

To give our staff a well-earned holiday break, our offices will be closed December 24, 25, 26, and from noon, January 31, opening again January 2, 2004.


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 News Digest to December 15, 2003

P10

   
 

Bahamian Cartoon Premiere

The Bahamas' first cartoon entitled "Cocomon and The Fruitytoons," created by Bahamian animator Delano A. Johnson premiered December 15th. The response was tremendous, children were able to identify with the distinctive Bahamian Cocomon character, and local colloquialism were highlighted in the first of the series," stated publicist Kathy Ingraham. "Cocomon and the Fruitytoons" is centered around seven main fruit characters from around the world, who are all a part of a musical singing group. The Bahamas, Jamaica, Puerto Rico, China and India, are just a few of the countries represented by a fruit.

PM opens Four Seasons Five-star resort in Great Exuma

Prime Minister Perry Christie cut the ribbon to mark the official opening of the first Four Seasons Resort in The Bahamas. The prime minister said the resort is bound to stimulate the economy in the 120-mile-long island chain. He congratulated the CEO of the resort, Kevin Clemente who, he said, would face challenges operating a five-star facility on a Family Island. "We have a wonderful democracy, one where a government can change hands and be replaced and in so far as the investors are concerned, their confidence remains as solid as it was when they first conceived their idea. That is kind of the country we live in." The prime minister said the Exuma Cays have attracted some of the world's top investors and he is committed to ensuring that people with the capacity to work will share in the prosperity.

Isle of Capri Casino opens

The Isle of Capri Casino at Our Lucaya was officially opened on Monday with a prediction that it will be "a huge benefit to Grand Bahama Island and The Bahamas." This prediction was made by Mr. Jon Markoulis, president of Hutchison Development, owners of the property, who noted that Isle of Capri's "corporate culture is a type of attitude that we want to see here, and I know they also are going to make money in addition to contributing to the local community." "This is going to be one of the biggest benefits for tourism to happen here in Grand Bahama for a long time," said Mr. Markoulis.

New BAIC Chairman

Michael Halkitis, the Parliamentary Secretary in the Ministry of State for Finance and the Member of Parliament for Adelaide is the new Chairman of the Bahamas Agricultural Industrial Corporation. The Corporation has now been switched to the portfolio of the Minister of Finance and James Smith, the Minister of State will have direct Ministerial responsibility for the Corporation.

 

Oceanic Bank And Trust Expands Freeport Office

Oceanic Bank and Trust Limited recently expanded its office in Freeport so as to better service its existing clients and to play an important part in developing the unlimited potential of Grand Bahama Island. Oceanic's services are based on creating a one-stop shop for wealth management services, which includes investment advice and brokerage, trust and corporate services, executorship, mutual fund administration, general financial and legal service, as well as accounting services.

Millennium Mall Opens

Pat and Max Sweeting saw a long time dream become reality Tuesday afternoon, at the official opening of their business complex, Millennium Mall, West Atlantic Drive. Family and friends joined members of corporate Grand Bahama in welcoming the newest entrepreneurs who will contribute to the development of Grand Bahama's economy. "It has been proven that economic development can be stimulated through small business development, and it is the aim of the government to empower Bahamians to be small business owners," said Marco City's Member of Parliament, Pleasant Bridgewater.

TIEA Will 'Boost Tourism'

Enactment of a Tax Information Exchange Agreement (TIEA) Bill will help to boost the tourism industry by allowing United States taxpayers to deduct Bahamian convention expenses from their taxes, parliamentarians heard Wednesday. Qualified Jurisdiction status is also important to the many resort properties in The Bahamas as it would also make the country a more attractive convention destination.

Rotary Brings Christmas Joy To Special Children

The Rotary Club of Lucaya has sponsored Christmas for the Beacon students for eight consecutive years, throwing a party at the school and providing a Christmas tree over the years. The school is a special education facility which caters to children from age six through to 18 with special needs, including those who are autistic, learning & mentally disabled and orthopaedically impaired. Principal Cheryl Wood said the Rotary Club has made a lasting impression on the children and given them many a memorable Christmas. Wood said the school appreciates the Rotary Club of Lucaya's commitment to the programme and for bringing joy to the students.

Junkanoo

Junkanoo, the premiere cultural expression of Bahamians, traces its origin to 18th Century Africa.The festival really came of age in the 1920s when it was taken to Bay Street and comprised competitive groups. It was then that the Bahamas Development Board, which evolved to today's Bahamas Ministry of Tourism, started promoting it as a "tourist attraction." It was in the 1950s that the festival became more organized with an increase in the number of groups and the inclusion of more competitive categories. In junkanoo circles, it is often said, "winning is not everything - just being there, rocking to the beat and admiring the colourful costumes, is well worth getting out of bed at 2 a.m. and heading to Bay Street, two days per year."

Tourism Launches 'Jump' Campaign

Minister of Tourism Obie Wilchcombe on Wednesday unveiled a five million dollar promotional campaign, "Island Hopping", aimed at repositioning The Bahamas as a more competitive destination. In addition to the slogan, a new logo will also be used to identify the islands of The Bahamas. The Ministry of Tourism has also gotten a commitment from the private sector to display the logo in all future promotions and advertisements. Another important aspect of the new campaign will be the new website Bahamas.com, which is currently up and will bring The Bahamas to life onscreen.

Massive Developments For Family Islands Announced

According to the prime minister, the economic development plan of the Progressive Liberal Party, calls for the establishment of an anchor resort or major commercial project in each island of The Bahamas, which, in addition to providing the main source of direct employment, will produce spin-offs to positively impact the local economy on a sustained basis. The prime minister also announced that the Government will have signed Heads of Agreement for new or expanded projects representing investments in excess of three billion dollars, with the potential to create in excess of 8,000 new, direct jobs and twice that number of jobs when spin-off entrepreneurial opportunities are factored in.

Hall Of Fame Tribute

The National Hall of Fame Banquet honored 2003 inductees who included Charlie Major Sr., Betty Cole, Leonard 'Boston Blackie' Miller, Tony Curry, Vincent Ferguson, Lou Adderley, Kingsley Poitier, Mychal Thompson, Roderick Simms, Sloane Farrington, Robert Symonette and Jack Sands. These sports competitors are the most outstanding contributors to their sport and, in addition, behave in a dignified manner exemplifying the true essence of what sports is really supposed to be mostly about - building good characters and bodies.

Emerald Bay Opens

The Four Seasons Emerald Bay Resort at Great Exuma, opened on November 22nd. The 219-room, spaciously designed resort, includes an 18-hole golf course, tennis courts, a fitness centre, a full service spa, two large swimming pools, a children's play pool, scuba diving and snorkeling services, a casino, restaurants, shops and a lounge. Emerald Bay is a $300 million investment and is expected to bring much-needed revenue to Exuma' economy.

Bahamas-Based Ecologist Named Top Scientist

Earthwatch Institute, the Massachusetts-based conservation organization, has picked Dr. Kathleen Sullivan Sealey as Scientist Of The Year. Dr Sullivan Sealey, who lives in Nassau and is married to Bahamian geographer Neil Sealey is a professor of marine biology at the University of Miami. Dr Sullivan Sealey has more than 20 years experience working in the Caribbean and is the principal investigator of the Earthwatch-supported Coastal Ecology of the Bahamas project, and was recognized for her unique contributions to science and sustainability.

NIA To Be Renamed After Former PM

The government intends to take the advice of the National Cultural Commission and rename the Nassau International Airport the Lynden Pindling International Airport as a posthumous honour to the man who is widely acclaimed as the Father of the Nation. It's a way to keep the name and memory of the former Prime Minister Sir Lynden Pindling alive, according to Prime Minister Perry Christie. Sir Lynden was a champion of the black masses, becoming instrumental in the struggle for majority rule and ultimately wresting control of the government from the white minority.

Economy 'Stabilised'

The government has been "faithful" to its mandate by stabilising the Bahamian economy. Minister of State for Finance, Senator James Smith, provided an overview on the state of the economy over the past 18 months, and said: "We have been able to contain the deficit up to now as a result of continued monetary and fiscal restraints." He added that The Bahamas' external reserve funds totaled approximately $535 million at the end of August, 2003, compared to $451 million over the same period last year. Additionally, Senator Smith said the fiscal deficit for the first three months of fiscal year 2003/04 has narrowed to $39 million, as compared with $76 million over the same period last year.