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Published by: The Nassau Guardian

Director of Sales and Marketing at Aristo Development’s $70 million luxury development ONE Cable Beach Matthew Marco told Guardian Business yesterday that over 50 percent of the condos have been sold even before the building comes out of the ground.

The project is generating a wave of employment and investment opportunities, according to the project’s developers.

The $70 million development at the head of the Cable Beach strip in Western New Providence will be completed in the summer of 2017. The project has Cable Beach strip in Western New Providence will be completed in the summer of 2017. The project has provided 100 construction jobs for Bahamas and will require at least 250 workes nearing the project’s completion.  The project has subcontracted with Bahamian companies such as Mosko / Bahamas Marine and Greyco Limited.

While construction progresses on schedule on Aristo Development statement said sales of the residences which start at under $1 million continue to be brisk. Aristo’s focus is on meeting the demands of international buyers that are interested in owning oceanfront residences in The Bahamas.

Marco spoke to the rate of presale of the luxury units.

“The positive response to the offering, I believe, is a reflection of two factors. One is the reputation of Aristo,” said Marcoi.

The second contributor, Marco believes, is a continually growing appreciation of The Bahamas.

“I’ve been traveling quite a lot – New York, Washington, Miami – and every property show I go to when I say Bahamas I hear the same thing, “You mean there is still oceanfront available in Nasseau?” The interest in oceanfront is confirmation that our two-year search and negotiation for the perfect property was the right strategy,” said Marco.

“This truly is the very last spot for oceanfront in the area and the only future development that can take a place along the northern coast will involve razing an existing structure. Whether you call it The Bahamas Riviera or Cable Beach, the reality is that it is a spectacular piece of shoreline that is hard to match anywhere in the world – close to conveniences and far from boring,” Marco added.

Residences at ONE Cable Beach range from $575,000 for a one-bedroom to $3,995,000 for the 3,900 square foot, 3 bedroom penthouse facing the sea.

For more information about ONE Cable Beach, luxury condos, visit www.onecablebeach.com.