PRIME Minister Dr Hubert Minnis speaks in Abaco on Friday.
PRIME Minister Dr Hubert Minnis said the government will offer lots of land valued at $150,000 for about $50,000 to young professionals in the western area of New Providence.
His comment came on Friday during a presentation of land grants ceremony in Crossing Rocks, Abaco.
He said the community will have a swimming pool and a community centre. Dr Minnis did not say where the area will be located, nor when the lots will be available for purchase.
“We’ve identified a property,” he said. “It will be upscale and the overall value of the land – probably 90 by 100 – and we’ll put in all the infrastructure, community centre, etc. The lands in the west are usually about ($120k to $150k), most are about $150k. We would sell it to the young professionals for about $50,000 or less because it’s really their land. Crown land is really the people’s land, it’s not individuals, it’s the people and we just want to ensure that the people receive their land.
“They would purchase the property at about $50,000, the property with all the infrastructure would be worth $150,000, which means they would automatically qualify for a mortgage and have their homes built without that great outlay that’s prohibiting most young people from building today.”
He added: “We would allow them to build duty free, so all the materials would be duty free, inclusive of the utilities, refrigerators, stove, microwave, etc. And I think that’s really to give the young professionals a start.
“With this progressive and aggressive programme that we’re doing – because we want to do development throughout all of the Family Islands now that we’re in this era of Airbnb – we’re encouraging people to take advantage of it. There are a lot of opportunities in the Family Islands, especially (because) of COVID, lots of people want to go to the Family Islands which are COVID-free and we’re encouraging Bahamians to take advantage of it. Once they identify and show that they are serious, we would grant them the land so that they can proceed because just having a lease poses a problem.”
During Friday’s ceremony, Dr Minnis said his government was committed to ensuring that people of Crossing Rocks – many of whom were forced to relocate following Hurricane Floyd in 1999 – received title deeds to rebuild their properties.
He said in 2019, 56 title deeds were transferred to residents of Crossing Rocks and last week an additional 24 grants were transferred to residents of the community.
“This figure represents more than 60 percent of the properties in Crossing Rocks which were destroyed by the 1999 storm,” he said.
Overall, 140 grants have been finalised for Bahamians under the government’s land grants initiative, Dr Minnis said.