NASSAU, BAHAMAS — The ultra-exclusive beachfront development Aqualina which consists of a total of 27 beachfront residences is 60 percent sold out to date, according to President of Aristo Developments Jason Kinsale.
The $100 million luxury condominium development adjacent to the Baha Mar resort on Cable Beach is set to be completed by December 2023.
Kinsale lead Prime Minister Philip Davis on a tour of the Aqualina development site yesterday.
“It’s our newest project,” he said.
“It’s 11 stories in total and 27 units. We are really seeing that there is a tremendous desire to be on the beach. We are 60 percent sold at Aqualina and so we are very happy with the results. We are seeing buyers from Europe, Canada, and the United States obviously.
Construction on the condo development is currently on the third of its 11 stories, which will house 27 three and four-bedroom residences.
Davis noted that with the development already 60 percent sold out, the government anticipates receiving Value-Added Tax (VAT) on those sales.
Davis said: “That means that we will be getting our VAT on those sales. We hope to see those purchasers visiting and putting heads in beds here and shopping which again puts money in the economy.