The Bahamas, February 8, 2025 – Calling the demand for sophisticated short-term vacation rentals ‘unprecedented,’ a Sotheby’s Concierge Auctions executive anticipates strong activity when bidding opens on two unique Caribbean-based properties – one in The Bahamas, another in Jamaica – this month.

A heated pool overlooks pristine white sand beaches, while the beachfront bar and grill create an ideal entertainment setting. Immaculate landscaping enhances the natural beauty of this one-acre sanctuary.

“It is extraordinary that two distinct properties, each designed with spaciousness, attention to architectural style and detail, as well as amenities that cater to a highly sophisticated luxury market, come to market at the same time,” said Danny Prell, Vice President of Business Development at the world’s largest luxury real estate auction house.

He stated that both properties offer a component critical to the demanding high-end vacation rental client – a unique location with unmatched beauty, privacy and serenity.

One of the properties, Coconut Island Estate in Abaco in the northern Bahamas, already has a proven track record of rental success, generating a significant six-figure income. Situated on a stretch of baby powder soft beach in the chain of islands known as the ‘sailing capital of The Bahamas’, the estate consists of four separate houses with a total of 10 bedrooms and nearly 9,000 square feet of space. The residence features a beachside bar and grill, a heated pool, and ample opportunities for guests to enjoy swimming and snorkeling without leaving the property. For those seeking adventure, nearby charter options offer boating, fishing, diving, or excursions to charming neighboring islands and settlements.

Kenyan Sunset Listed for $3.5M; offers a distinct fusion of Caribbean elegance and African inspiration across two majestic acres in prestigious Caribbean Heights. This exceptional estate comprises three thoughtfully designed structures, each embodying unique charm.

The second offering, Kenyan Sunset in Montego Bay, Jamaica is sprawled across two acres with three residences perched high atop a hill overlooking two world-famous golf courses and the historic Rose Hall Great House. Its fusion of Caribbean and African lends colour and features that give it the appeal of an architectural magazine cover. The main house features three bedrooms, a private office, a fully equipped kitchen designed for entertaining, a wine cellar, a media room, and a gym, all centered around a private pool. A second pool is located at one of the two cottages.

“The short-term vacation rental industry as we know it today was unheard of just a generation ago,” said Prell. “Globally, it is generating upwards of $87 billion annually and there is no sign of a slowdown. What is less well-known is the demand for luxury properties where those of a certain economic standing can enjoy all the family, friends and colleagues they want to have around them in a non-commercial environment. These properties, Coconut Island Estate in the Abacos of The Bahamas and Kenyan Sunset in Montego Bay, are quintessential opportunities for the client who wants everything at his or her fingertips in a location that is easy to access and hard to leave.”

The estate’s elevated position between the renowned White Witch and Cinnamon Hill golf courses delivers spectacular views, while sharing grounds with the historic Rose Hall Great House adds to its prestigious providence.

Sotheby’s Concierge Auctions is working in collaboration with local Sotheby’s associates in both locations. Coconut Island Estate is listed by Mitzi Pearce of Bahamas Sotheby’s International Realty for $5.4 million with bidding expected to start between $1 million–$1.75 million. Kenya Sunset is listed by Coleen Samuels and Julian Dixon of Jamaica Sotheby’s International Realty for $3.5 million with bidding expected to open between $750,000 and $1.25 million. Both auctions are scheduled to open on February 21 and close on March 1 as part of an inaugural live sale event during ModaMiami in Coral Gables, Florida. Prell said he would not be surprised if a single bidder opts for both.

“Finding one revenue generating property at this level in excellent condition is rare, finding two in the same region at the same time is extraordinary,” he said. “It should be exciting and one of the most active auctions we have had in recent history because both lend themselves to the opportunity for owners to enjoy when they want and earn revenue when they wish.”

About Concierge Auctions

Concierge Auctions is the world’s largest luxury real estate auction marketplace, with a state-of-the-art digital marketing, property preview, and bidding platform. The firm matches sellers of one-of-a-kind homes with some of the most capable property connoisseurs on the planet. Sellers gain unmatched reach, speed, and certainty. Buyers receive curated opportunities. Agents earn their commission in 30 days. Acquired by Sotheby’s, the world’s premier destination for fine art and luxury goods, and Anywhere Real Estate, Inc (NYSE: HOUS), the largest full-service residential real estate services company in the United States, Concierge Auctions continues to operate independently, partnering with real estate agents affiliated with many of the industry’s leading brokerages to host luxury auctions for clients. For Sotheby’s International Realty listings and companies, Concierge Auctions provides Sotheby’s brand exclusivity as Sotheby’s Concierge Auctions. Since inception in 2008, the firm has generated billions of dollars in sales, broken world records for the highest-priced homes ever sold at auction and sold properties in 46 U.S. states and 35 countries. The firm owns one of the most comprehensive and intelligent databases of high-net-worth real estate buyers and sellers in the industry, and it has committed to build more than 300 homes through its Key For Key® giving program in partnership with Giveback Homes™, which funds new homes for families in need from every property the company sells. For more information, visit ConciergeAuctions.com.

By BETTY VEDRINE

Nassau, The Bahamas, February 8, 2025 – Deputy Prime Minister and Minister of Tourism, Investments and Aviation, the Hon. Chester Cooper led a delegation of government officials, with the President of the Inter-American Development Bank (IDB), Ilan Goldfajn, and his team, on a tour of the Exuma Airport on Tuesday, 4th February.

The tour was conducted during the IDB’s team’s XIII Consultation with Caribbean Governors Conference in Nassau.

The Exuma Airport Project is part of the IDB-financed Airport Infrastructure Program loan in the amount of $35 million to support the upgrade and improve four airports in the Family islands, which include airdrome facilities in Exuma, North Eleuthera, Marsh Harbour and Treasure Cay.

Minister Cooper delivered welcome remarks and said that the project is a ‘game changer’ for the economy of Exuma. “This project signals a great partnership between the Government of The Bahamas and the IDB,” said Mr. Cooper.  “It will improve and empower the economy and people of Exuma and the people of the South and Central Bahamas.”

President Goldfajn said that the project not only changes the economy but also increases the island’s resilience when faced with natural disaster, it will assist in health emergencies, and the flexibility of travel between the islands.

Engineer at the Ministry of Works, Charlene Collie led a guided tour of the site, explained the scope of work to be carried out, and gave an update on what has been completed.

The scope of work includes: pavement rehabilitation works for apron, taxiway and runway; new taxiway installation; installation of new fencing and new drainage infrastructure; installation of new airside lighting and electrical; installation of navigational aids and runway markings.

To date, the work completed includes: 100% of the clearing and grubbing drainage infrastructure, 100% of the fencing, 76% of earthworks and currently ongoing electrical and pavement works.

It is anticipated that the airport project will improve access to health care facilities, employment and services; benefit more than 258,000 passengers annually; facilitate greater access to domestic and international travel; improve safety and efficiency of air travel; and enhance climate resilient infrastructure.

The delegation was also given a tour of the island.

(BIS Photos/Carlyle Sands)

By LINDSAY THOMPSON
Bahamas Information Services

NASSAU, The Bahamas — Key indicators show that The Bahamas experienced unprecedented growth in tourism, particularly in the Family Islands over the past year, and is on track for further expansion.

This was revealed by the Deputy Prime Minister and Minister of Tourism, Investments and Aviation the Hon. Chester Cooper as he highlighted 2024 successes, and shared the 2025 Strategic Plan Update, during a press conference on Wednesday, February 5, 2025.

Held at the ministry’s conference room at the British Colonial, also present were Acting Permanent Secretary, Ministry of Tourism, Investments and Aviation, Lisa Adderley-Anderson; Latia Duncombe, Director-General, Tourism; Dr. Kenneth Romer, Deputy Director-General, Tourism and Director of Aviation; Dwight Gibson, Director, Tourism Development Corporation; and Anthony Bostwick, Consultant, Downtown Development.

Deputy Prime Minister Cooper reported that at the end of 2024, The Bahamas recorded a record-breaking 11.22 million overall in foreign air and sea arrivals, surpassing the previous year’s number by 16.2 percent and 2019 figures by 54.7 percent.

“This is the best year ever, exceeding 2023,” he said.

Out of that number, foreign air arrivals across all destinations exceeded 1.72 million, equaling arrivals recorded in 2023, and surpassing the 1.67 million foreign air arrivals recorded in 2019 by 3.3 percent.

“December 2024 was the best month ever in terms of arrivals with 1.15 million visitors, posting 14 percent ahead of 2023 and 62 percent ahead of 2019. There was an 8.7 percent growth in air arrivals in Grand Bahama, second only to Abaco with an 11.9 percent growth over 2023. This is cause for celebration given the devastation and heralded a return to pre-Dorian and pre-Covid levels. This is truly a remarkable rebound,” he said.

The above results are notwithstanding the interruptions of Hurricanes Milton, Oscar, and the USA elections, he added.

The 2024 Impact of Cruise Tourism Report by the Business Research and Economic Advisors as commissioned by the Florida-Caribbean Cruise Association has The Bahamas ranked as number one in the Caribbean and Latin America in terms of total economic benefit.

“These passenger and crew visits along with additional expenditures by the cruise lines generated a total of $654 million in cruise tourism expenditures in The Bahamas during the 2023/2024 cruise year compared to $405 million in 2018. This is a staggering 61 percent increase,” Mr. Cooper said, adding “Our estimates suggest that when we add direct employment, taxes and levies the overall benefit exceeds $1.25 billion with overall tourist spending in the $6 billion range.”

Notwithstanding this, he noted that the Government has engaged a study to further calculate and examine the economic benefit of the cruise business to the Bahamian economy.

“We were pleased to see the attractions of more than $10 billion of Foreign Direct Investments over the last two years with high-end brands like Montage, Rosewood, Six Senses, Montage, Rosewood, Park Hyatt, Bvglari and Four Seasons Residences.

“This is extremely positive for cementing our reputation as a premier luxury destination.”

He said Tourism is also optimistic of the contributions to be made by Celebration Key in Grand Bahama and the Royal Caribbean Club, which are new investments, slated to come on stream before the end of 2025.

Additionally, the ministry launched the ‘Home Sweet Home’ program which incentivizes vacation rental as a short-term boost to room availability.

“We are pleased to announce phase II of this program that offers grants of up to $10,000 and loans via the Bahamas Development Bank for qualified applicants,” Deputy Prime Minister Cooper said.

As a whole, the Islands of The Bahamas attracted foreign air arrivals services from 23 airlines and air carriers in 2024, representing direct route services from 34 international markets across the USA, Canada, London, France, Italy, Turks and Caicos, Cayman, Jamaica, Cuba, Haiti and Panama.

“While we continue to experience unprecedented growth overall, it should be noted that the largest percentage growth in overall foreign air arrivals, as well as increase in seat capacity, were experienced in our Family Islands,” he said.

Deputy Prime Minister Cooper further noted that Moody’s, Standard & Poor’s, and International Monetary Fund all praised the post-Covid recovery with the latter noting the “remarkable” recovery of the economy “buoyed by a strong increase in tourism.”

He thanked partners and stakeholders inclusive of airlines, hotels, promotion boards, executives and staff of the ministry and the “magnificent people” of The Bahamas who have embraced the mantra that “Tourism is Everybody’s Business.”

PHOTO CAPTION: Deputy Prime Minister and Minister of Tourism, Investments and Aviation the Hon I Chester Cooper gave a tourism update and projections during a press conference on Wednesday, February 5, 2025 at the ministry’s conference room at the British Colonial. Pictured from left are: Anthony Bostwick, Consultant, Downtown Development; Acting Permanent Secretary, Ministry of Tourism, Investments and Aviation, Lisa Adderley-Anderson; Deputy Prime Minister Cooper; Latia Duncombe, Director-General, Tourism; Dr. Kenneth Romer, Deputy Director-General, Tourism and Director of Aviation; and Dwight Gibson, Director, Tourism Development Corporation.

(BIS Photos/Kemuel Stubbs)