‘Real’ upswing

Article by Gercine Carter

Barbados’ luxury real estate market is set for a boom.

“I think you will see construction flying in Barbados next year; you will see new investment coming in and new purchases in second homes, which is a big support to our economy,” leading real estate developer Sir Paul Altman told THE NATION last week.

One of the leading developers in the luxury real estate market, Sir Paul painted an encouraging picture of major projects due to come on stream in the tourism sector, including hotel expansion and construction and the restart of overseas-funded private residential developments, while revealing that dormant plans for other developments were being dusted off in preparation for their being put back on the table.

Sir Paul said he was confident that a full Bridgetown redevelopment will be on the cards. He disclosed that studies commissioned on the Marshall Hall project at Hincks Street, and the Pierhead Project on the southern side of the Careenage had been completed. He also spoke of the benefits of the Hyatt Centric Hotel set for Lower Bay Street, St Michael. (GC)

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