Cayman Investor Eyes Prime Bahamas Real Estate

A large Cayman Island developer may be a major factor in the rebirth of downtown Nassau, Bahamas, according to The Tribune of Nassau.
The Dart Group, the power behind Cayman's 500-acre Camana Bay project, has signed an agreement to purchase prime Bahamas real estate near the parliamentary complex, The Tribune reports.
This would add an exciting new dimension to the redevelopment of the once fabled Bay Street .
The Bahamas government is currently building a new container port on an artificial island at the western entrance of Nassau Harbour to facilitate the relocation of the shipping companies. This would get the heavy container vehicles off Bay Street and help alleviate some of the traffic.
It's the first step in the redevelopment process.
The Dart Group is said to be purchasing a shopping arcade opposite the House of Assembly on Parliament Street, including several premises on the corner of Parliament and Bay Streets.
Apparently all that's needed is the government's ok to the sale of Bahamas real estate to a foreign entity.
The Downtown Nassau Partnership, the merchant group lobbying for an overhaul of the city, is reportedly on board with the project.
The Dart Group is seen as an ideal partner. It's familiar with the Bahamas as its Styrofoam Polymers International business is on Grand Bahama.
According to The Tribune, it also has the skills and deep pockets necessary to turn the vision for downtown Nassau into reality, having created Camana Bay in Cayman as a 'new city' from scratch, complete with condos, marina slips and office parks.
All eyes are on this new Bahamas real estate proposal.