Got US$95 million? Bahamas' largest private island with its own private jet and landing strip is on sale

By Cheryl Arcibalcheryl.arcibal@scmp.com / https://www.scmp.com/business/article/3025152/got-us95-million-bahamas-largest-private-island-its-own-private-jet?utm_medium=partner&utm_campaign=contentexchange&utm_source=EdgeProp | September 11, 2019 11:57 AM SGT
If you have US$95 million (HK$745.3 million) to spare, would you rather buy an 8,000 square feet luxury mansion at the billionaire's row on The Peak or a 700-acre private island in the Bahamas that has its own jet landing strip and gives you permanent residency?
It's a difficult choice. But Blue Island in the Exuma Cays, famed for their sapphire-blue waters and ultra-exclusive resorts, is on the market, making it one of the most expensive privately owned islands in the world. It is also the largest private island available in the Bahamas.
"I think some rich mainland Chinese will be interested in this island," said Thomas Lam, head of valuation and advisory at property consultancy Knight Frank, adding that the freehold land and permanent residency in the Caribbean country are an added bonus.
It also comes with nearly 5km of white sandy beaches, a main house, a boat ramp and dock, a terrace with outdoor space, guest house, gardens and an outdoor pool.
Blue Island in the Exuma Cays in the Bahamas is the only one in the Caribbean that has its own jet landing strip. Photo: Handout alt=Blue Island in the Exuma Cays in the Bahamas is the only one in the Caribbean that has its own jet landing strip. Photo: Handout
Buying the island certainly makes one eligible for residency in Bahamas as buyers of property worth at least US$1.5 million are granted the privilege. And apart from the right to vote, permanent residents can avail of all the privileges enjoyed by Bahamians.
"Owning a private island like Blue Island appeals to high net worth individuals whether from China, Hong Kong or elsewhere," said George Damianos, chief executive at the Damianos Sotheby's International Realty, the agency selling the island. "Owning a private island is a very exclusive pursuit."
For many buyers of private islands, the main appeal is leisure, but they also hope that the island will be a good investment and they will be able to recover the investment or make a small profit at some point, according to Damianos, whose agency has sold private islands...