”As a result of hosting the NAI Global Regional Conference last week we already have serious interest in our exclusive Union Wharf listing,” reports Larry Roberts, SIOR, CEO of both Bahamas Realty Limited (BRL) and NAI Bahamas Realty Commercial, the commercial division of Bahamas Realty Limited.
“One of the major benefits of the conference was introducing the delegates to The Bahamas and what we have to offer, touring our properties, our office and learning of local investment incentives.”
He continued, “The delegates, from seven countries, were very complimentary and so grateful to now have a much greater understanding of The Bahamas and what we have to offer in real estate investments. It was a lesson in rolling out the red carpet instead of the red tape,” quipped BRL Financial Controller Lindsey Cancino, giving the vote of thanks at the closing luncheon at Luciano’s of Chicago.
Guest Speaker Bianca Beneby, Deputy Director of Investments (Acting) Bahamas Investment Authority (BIA), said that BIA is restructuring to “reduce delays and speed up the approval process for permits and certificates of registration so that The Bahamas can continue to attract real estate investment to our shores.”
She detailed investment incentives here and said on behalf of Minister of State for Investment The Honourable Khaalis Rolle, “We are ever mindful of the need to continue to make it easier to do business in The Bahamas in order to maintain our competitive advantage as a highly sought after destination where investors cannot only work, but also play.”
Among incentives she cited for The Bahamas are: Tax Neutral Jurisdiction, with no personal, corporate, capital gains, estate, gift or inheritance taxes; Significant concessions under the “Vacation Plan & Time Sharing Act, the Hotels Encouragement Act and the Industries Encouragement Act”; Strategic location at the crossroads of the Americas in a favourable time zone making it easier to do business around the globe; Stable governance so that investments are shielded from risks associated with political instability or uprisings and afforded legal protection of contractual rights; More direct flights than any other country in the region.
Other benefits accruing from conference here, according to Mr. Roberts, include increasing awareness among the NAI members and the public of NAI member’s global reach, of special value to big multi-national companies such as large banks, or others such as GM or Ford, who have a large presence in Latin America. “We agreed we would identify, improve and get additional business by co-operating and coordinating with each other. Out of this initiative investors and sellers will understand that we can help them anywhere in the world.”
Senior staff members from NAI Global attending the conference, included Bobbi Jean Formosa and Linda Battistelli, who brought NAI delegates up to date on recent changes in the company. Mr. Roberts summed up, “NAI was purchased just over a year ago by CIII Capital Partners, a major player in the commercial real estate industry. NAI Global’s new president, Jay Olshonsky, has been on the job for less than six months and has already made major changes, all for the better and all very positive.”
Delegates in attendance were from The Bahamas, USA, Mexico, Panama, Peru, Brazil, Argentina and Jamaica.
Mr. Roberts said he expects the conference to “solidify the contacts in the NAI Global network particularly as it relates to the Caribbean and Latin American countries, and to strengthen relationships and cooperation between members.”
Mr. Roberts said he was "honoured to host this regional conference particularly as we are relatively new members of this extraordinary group. NAI Global is one of the world's leading providers of commercial real estate services."
He adds, "When you are dealing with NAI Bahamas Realty Commercial, you are dealing with the whole NAI Global group, the top independent Realtors in 55 countries with $45 Billion in transactions annually. NAI members manage more than 300 million square feet of commercial space, but we also know, appreciate and can meet your local needs."
In Latin America & the Caribbean NAI Global is the foremost and largest Commercial Real Estate Service Provider with 33 offices in 13 countries, offering services from traditional brokerage to MAI Appraisal, Lease Administration, Portfolio Management and Audit, Investment Services, Hospitality Consulting, Logistics/Supply Chain Solutions, Project Management, Design Build and Sustainability LEED Design Consulting, among others.
Bahamas Realty Commercial joined NAI Global two years ago, as its exclusive member for The Bahamas. The well known Bahamas Realty Commercial Division is now known as NAI Bahamas Realty Commercial, giving its customers global reach in marketing and sales.