Development OpportunitiesOverview of the available residential & commercial land tracts.
Joint venture opportunities exist and tracts of land are available for sale to experienced and well-funded Investors, who are interested in developing projects in accordance with Devco’s overall master plan. Land is currently available for residential, commercial and touristic use. All land is sold on a Freehold basis and is subject to the payment of a service charge, which is used to fund city maintenance.
Devco's portfolio comproises of world-class beach and canal front development sites located on the south shore of Grand Bahama, each with direct and easy access to the Grand Bahama International Airport.
Under the terms of the Hawksbill Creek Agreement all property within the Freeport area is exempt from Government Property Taxes until the year 2054. However, land sales are subject to a Government Stamp Tax, which is graduated in accordance with the value of the property.
Foreign Investors are required to obtain a Business License from the Grand Bahama Port Authority, Limited and approval from the Government of the Bahamas. This process is well regulated and easily understood. Neither individuals nor corporations resident in the Bahamas are required to pay tax on repatriation of funds, corporation tax or death duties.
Devco’s tourist and retail commercial zoned lands are master planned to accommodate specific development projects based on its type, land size requirements and value of investment. This category of property carries a mandatory development commitment. A written expression of interest should be submitted to Devco’s offices, outlining:
- Project scope
- Land size requirement
- Value of investment
- Evidence of resources
- Target market
- Principal investor(s) and relevant experience