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Realtor Targets Chinese Market

Mario Carey Realty (MCR) is going the extra mile – 3,840 miles to be exact - to attract buyers to the Bahamas.

Mario Carey, founder and president of the firm, and Terrinique Pennerman, marketing manager, will represent the Bahamas in China next week during an exclusive luxury property show expected to draw some 5,000 high net worth visitors.

Mr Carey and Ms Pennerman will attend the sixth Luxury Property Showcase (LPS) in Shanghai. Sponsored by Lamborghini, Baccarat and Dassault-Falcon, the invitation-only expo set for December 6-8 will feature more than 80 exhibitors from some 25 countries, with MCR being the sole exhibitor from the Bahamas.

“This is a great opportunity for us to showcase the Bahamas,” said Mr Carey. “The beauty of Bahamian waters, our tax structure, year-round warmth and the fact that Bahamas property values survived the recent economic meltdown all combine to position the Bahamas favourably against wherever affluent people may be considering choosing to live or invest.”

Mr Carey said that while there is “no place quite like Paradise Island for the sportsman”, he hopes to open eyes to other waterfront enclaves such as Old Fort Bay, Albany, Lyford Cay and Baha Mar on New Providence, and the concept of private islands for the more adventurous.

MCR members are studying Mandarin, while the firm’s website has been translated into Mandarin - all in a bid to attract Chinese buyers. Mr Carey recently hosted a farewell luncheon for Ambassador Hu Shan, who was leaving the Bahamas earlier this month after a two-year posting.

The firm also has a Bahamian-born Chinese consultant, Daniel Lowe, who is based in Beijing. During the luxury property show, MCR will host a reception for Bahamians in China and the Bahamas Embassy.

Ms Pennerman thinks the show offers great potential to deepen ties. “China is attractive to us because of strong consumption ability and desire. There are more than 1.4 million multi-millionaires as of the end of 2012. The super-rich Chinese also desire the sea - which is the Bahamas’ main asset. The market value of China’s yacht sector totalled 1.75 billion Yuan ($283.9 million) in 201,” she said. “As they say, if Mohammed cannot make it to the mountains, we have to take the mountain to Mohammed,” said Mr Carey. “We look forward to the trip on behalf of our firm, but more importantly, to help showcase the Bahamas.”

Mr Carey will do a 15-minute power point presentation to attendees on luxury properties. “This is a new and creative experience to me,” said the veteran broker, “something I am really looking forward to.”

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