BAHAMAS REALTY OPENS EXUMA OFFICE

September 2000 Table of Contents

BAHAMAS REALTY OPENS EXUMA OFFICE

With offices in Nassau, Long Island, Freeport and Abaco, Bahamas Realty announced in August it has opened an office in Georgetown, Exuma, citing booming development and a flurry of activity in the island's marketable miles of beachfront property.

According to Bahamas Realty Director Larry Roberts, two major developments and a renewed interest in an existing project have sparked interest from foreign and local investors in what has long been a quiet yachting paradise. "There is a lot of buzz surrounding Exuma and the economic boom that is taking place there," he said. "The Four Seasons development at Emerald Bay and other projects already on the drawing board, including a golf course at the south end of Little Exuma, are exciting developments that are sparking a lot of interest from all over."

In addition, thousands of acres in Bahama Sound - a planned development nearly half the size of Great Exuma - are suddenly attracting interest after years of being idle. Roberts said a second factor influenced the decision to expand. "It is fine to say we're going to open an office in Exuma but having the right person is key to having a successful operation and we were very fortunate in finding Judy Turnquest," Roberts said. "She has been a resident of Exuma for 20 years and has spent the last eight years as manager of Peace and Plenty and Two Turtles Inn. Anybody dealing with Judy is going to feel very comfortable. She is very bright and knows practically everyone in Exuma."

Roberts expects the firm's presence in Georgetown's Real Estate Centre to enhance the real estate industry in the Exuma as it has in other family islands where Bahamas Realty has opened an office, spending money advertising island properties and taking advantage of its website and its affiliations with Sotheby's International Realty and C B Richard Ellis.

"Exuma has always been known as a yachtsman's paradise," said Larry Roberts. "For many years it's had a small population of ex-pats who usually arrived by boat, fell in love with the place and came back as part-time or full-time residents. Now, with the new resorts, a small casino that is going to come on stream, golf course, marina, shopping, schools, an airport capable of handling jets, Exuma is the new frontier for major real estate development. Price-wise, it's still affordable, like Hope Town was a few years ago. But prices are already starting to climb and they'll continue to do so."

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