NASSAU, BAHAMAS — The The ultra-exclusive Aqualina beachfront development, which consists of a total of 27 beachfront residences, is 60% sold to date, according to Aristo Developments President Jason Kinsale.
The $100 million luxury condominium development adjacent to the Baha Mar resort on Cable Beach is expected to be completed by December 2023.
Yesterday Kinsale led Prime Minister Philip Davis on a tour of the Aqualina development site.
“This is our newest project,” he said.
“It’s 11 floors in total and 27 units. We really see that there is a huge desire to be on the beach. We are 60% sold at Aqualina so we are very happy with the results. We see buyers from Europe, Canada and the United States obviously.
Construction of 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% sold, the government expects to receive Value Added Tax (VAT) on those sales.
Davis said: “This means that we will collect our VAT on these sales. We hope to see those shoppers visit and head to bed here and shop, again pumping money into the economy.