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Prime Minister Makes Good on Promise to Provide Serviced Lots for Bahamians

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#Nassau, July 13, 2018 – Bahamas – In keeping with his government’s commitment to making it easier for young Bahamians to own their own homes, Prime Minister, Dr. the Hon. Hubert Minnis officially launched the Serviced Lots Initiative at Sunset Close Subdivision Extension on Thursday, July 12, 2018.  Located in the busy hub of the Carmichael Road area, approval was given for the subdivision’s extension in 2016.

A ceremony was held under a new mandate, in which the Ministry of Housing and the Environment’s focus is to offer for sale “Serviced Lots” to qualified Bahamians.

“This initiative will foster economic independence and empower Bahamians,” the Prime Minister said.  “My government is making it easier for Bahamians, in particular young Bahamians, to own their own homes.”

Also present for the occasion were Cabinet Ministers, Senators, Members of Parliament, Clergy, Senior Government Officials, board members of the Bahamas Mortgage Corporation, and residents of Sunset Close Subdivision.

The 3.06-acre tract of land, which came to be known as Sunset Close Subdivision, was conveyed in October 2011 from the Treasurer of The Bahamas to the Minister Responsible for Housing for the development of an affordable housing area.  The land was subdivided into 16 lots, at approximately 5,000 square feet each, and a 16,655-square-foot passive park.  The name was derived from its location for it sits within the existing Sunset Subdivision.

Purchasers will secure a mortgage and be given two years to complete construction of a single family dwelling home.  Purchasers will also have the opportunity to take full responsibility for the design of their own home, engagement of contractors and others.

The Sunset Close Subdivision Extension comprising 56,237 square feet was conveyed by a grant in 2018 from the Treasurer of The Bahamas to the Minister Responsible for Housing, for further development.  The extension has 10 lots of approximately 4,000-5,000 square feet each.   The hallmarks of this initiative are: ownership, equity choice, and flexibility, all of which will be aided by duty-free concessions, the Prime Minister said.

“In the past, the Department of Housing provided mortgage housing packages, which afforded little to no flexibility for the homeowner to customize their new home. Today, we are changing this!” he noted.

From the outset, the land that is acquired will contain equity to facilitate any mortgage that may be required to build.  Lots will be sold on average $15,000 to $30,000.

“When we say fully serviced lots, we mean that the lots will already include the infrastructure to start construction, including electricity, water and paved roadways,” the Prime Minister said.   He added that the Ministry of the Environment and Housing has already begun discussions with the Bahamas Mortgage Corporation, and Bank of The Bahamas to help pave the way where mortgages are necessary.

The programme will provide prospective homeowners who purchase one of the serviced lots with access to customs duties and excise tax exemption on materials necessary to construct a single-family home.

The Department of Housing is working to provide the second parcel of serviced lots, located in the Lionel Davis Subdivision in the Fox Hill community.  Those lots will be available for sale by early October 2018.  The Prime Minister said that he was “especially excited” to announce that in January 2019 over 300 such serviced lots will be made available for sale in the Carmichael Village Subdivision.

And, the Department of Housing and the Department of Lands & Surveys are also identifying land for subdivisions on Andros, Abaco, Exuma and San Salvador.  Other islands will be addressed subsequently.

Beginning today, interested Bahamians may go online to the Bahamas Government’s website, and download the serviced lots application form.

The completed application form and supporting documents may be submitted to servicedlotsunit@bahamas.gov.bs or delivered to the Department of Housing, Shirley Street.

 

By: Lindsay Thompson (BIS)

Photo Caption: Launch of Serviced Lots Initiative at Sunset Close Subdivision Extension, Carmichael Road, on Thursday, July 12, 2018: Prime Minister, Dr. the Hon. Hubert Minnis addresses the audience as Minister of the Environment and Housing, the Hon. Romauld Ferreira looks on.  A monument to the serviced lots initiative is unveiled by Prime Minister Minnis (centre right) and Minister Ferreira (centre left), accompanied by Parliamentary Secretary in the Office of the Prime Minister with Responsibility for Land, Pakesia Parker-Edgecombe (right), Pastor Jeff Beckles and Acting Permanent Secretary Janice Miller.

(BIS Photos/Yontalay Bowe)

 

 

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Bahamas News

Bahamas economic growth

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Rashaed Esson

Staff Writer

The Bahamas’ economy is in good standing according to reports from the Bahamas National Statistical Institute which released the Quarterly Gross Domestic Product Series. They indicate that quarterly GDP trends for 2023 saw increases compared to 2022, a sign of recovery from the Covid 19 pandemic.

The most significant increase was 9.9 percent in the first quarter of 2023, and the industries responsible for the growth include Accommodations and food, construction and Arts.

 

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C&W COMMUNICATIONS PROUD TO BE ASSOCIATED AS ATHLETES “CHASE THE SUN”

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World Relays to be title sponsored by BTC, one of C&W’s local brands.

 

In just a few days, athletes from over fifty countries will converge in The Bahamas for the BTC World Athletic Relays Bahamas 24. C&W Communications, the parent company of BTC, is proud to be associated with this major event, which will see athletes from The Bahamas, Barbados, Jamaica, and Trinidad & Tobago competing for a place in the upcoming Olympic games in Paris.

Inge Smidts, CEO of C&W Communications, who also serves as Chair of the BTC Board of Directors will be in the stands to witness the highly anticipated relays. Smidts says, this was an event that she simply could not miss. “We are proud to support our Caribbean athletes, and we wish them well as they vie for a spot in the Olympic games.

The relays will be held one of in our markets, The Bahamas, and we are honoured to be the title sponsor of the event. The world relays represent the spirit of relentless courage and the willingness to succeed of the Caribbean people and of our business. Through partnerships like this we demonstrate our unwavering commitment to connect communities and change lives.”

In addition to its sponsorship of the event, Smidts says it was important that athletes, officials, and fans stayed connected during the games. “As a business we are focused on ensuring that our customers have access to faster, stronger, and more reliable connectivity, and we worked with our partners to make certain that athletes and guests remain connected.

We have offered e-sim cards, and we also worked with the major hotels to set up care centers to ensure that we address any connectivity concerns on the spot. Additionally, I am pleased to announce that BTC will provide free Wi-Fi at the stadium giving patrons and athletes the opportunity to share every riveting moment.”

BTC has hosted a special event just for the Caribbean athletes, at the newly renovated Queen’s Staircase in Nassau, a recently renovated historic landmark visited by thousands of tourists each day. This event gave athletes the opportunity to unwind, mingle, and to learn more about each other right before the competition.

This is the fourth time that BTC and its parent company C&W Communications have title sponsored the world relays. The BTC World Athletic Relays will be held at the Thomas A. Robinson Track & Field Stadium from May 4-5, under the theme, “Chase the Sun, from Paradise to Paris.”

 

 

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RBC appoints new Country Manager and Area Vice President for Turks & Caicos 

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RBC Royal Bank (Bahamas) Limited (“RBC”) is pleased to announce the recent appointment of Kerryl-Lyn King-Henry as Country Manager and Area Vice President (“AVP”), Personal and Commercial Banking, Turks & Caicos Islands (TCI).

In her new role as Country Manager and AVP, King-Henry will take on full responsibility for the bank’s operations, strategy, and development in the TCI market, with a strong focus on solidifying partnerships with the Government, regulatory bodies, and the local community.

King-Henry brings to the role a dynamism influenced by nearly 25 years of industry experience. Prior to her new appointment, she served as AVP of Business Banking in Trinidad and Tobago. She has held progressively senior roles within both personal and commercial banking, as well as various functional units.

King-Henry holds a Master of Business Administration (MBA) degree, with a specialization in Leadership, FinTech and Big Data Analysis, in addition to a Bachelor’s Degree in Business Administration. Further enriching her professional profile, Kerryl-Lyn is a certified John C. Maxwell Coach, Trainer, Teacher, and Speaker. Her passion for leadership and development is matched by her commitment to community service, as she actively volunteers her time and leverages her professional expertise to mentor and support others. “

Kerryl-Lyn’s extensive experience and proven leadership capabilities make her the perfect choice to lead our operations in the Turks & Caicos Islands,” said Ericka Rolle, RBC’s Managing Director and Vice President, Personal Banking, The Bahamas and TCI.

“Her commitment to excellence, combined with a genuine passion for community engagement, aligns perfectly with our Bank’s purpose of helping clients thrive and communities prosper. We are excited to see the positive impact she will undoubtedly bring to her new role,” she added.

 

 

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