@Maximilianotto - the project is approved. There are no restrictive covenants. Fully residential, no hotel. Building drawings will commence early 2022, construction second half of 2022 as already outlined. The lady lawyer should read first and talk thenafter. We don’t want to comment further.
All explained in yesterday’s article - just read what has been said. The building height is legal, there are no restrictive covenants, no hotel, just residential.
Wondering how long this New Day will last? If investors become unfriendly game will be over in 2022.Wall Street Journal will soon comment on that. It all started with BahaMar de facto and criminal nationalisation. The then Christie PLP government waived stamp duty for the Chinese buyer. Interesting. So got $300,000,000.00 subsidy. Needs to be examined. Who were the persons in charge? Who benefited? The US administration will notice. Too much negativity coming up about this “investor friendly” administration.
May we release the following facts regarding your article's incorrect "landbanking" comments. We have better things to do than landbanking in The Bahamas.
1. South Ocean Canadian Commercial Workers Pension Plan property
Following acceptance of all conditions set by the vendor's lawyer, Dr. Kovats delivered the signed purchase agreement to the vendor's lawyer in 2014, the vendor CCWPP never countersigned and returned. A $2,0 bn. development has been predesigned and submitted to the then Prime Minister Perry Christie and Town Planning, including hotel development. No answers, no comments, no decisions. The renewed project has been submitted in December, 2021
2. Love Beach
Dr.Kovats financed the first building to the previous owner who did not complete the building. In 2014-2015 Dr. Kovats foreclosed the property, acquired adjacent parcels, and received all approvals by September, 2021 only. The building plans will be executed by first half of 2022, and, again, depending on approvals time schedule, construction of the residential project is slated to begin in 2022 immediately after having received building approvals.
3. Treasure Cay
Dr. Kovats signed the sales and purchase agreement with the vendors beginning of 2021, in the midst of the COVID Pandemic. Following the complex due diligence, which is close to being completed now, closing is expected by beginning of 2022.
BIA asked for a development plan last week, which has been submitted within 2 working days, including significant investment. It took 8 unanswered emails to BIA starting August, 2021, to receive this request.
Following meeting with the DPM Chester Cooper confirming "removal of red tape and the most investor friendly government" we are confident of the "New Day" improvments.
I have written support and information letters about Treasure Cay to authorities interested in supporting The Bahamas in these challenging times, moreover expecting a very challenging 2022 ahead due to the recent Omikron spike.
All hands on deck are needed to support investment in The Bahamas, there is no time for "White Crab, Black Crab" games!
Dr. Wolfgang Groeger Kovats Family Office Vienna Austria
May we release the following facts regarding your article's incorrect "landbanking" comments. We have better things to do than landbanking in The Bahamas.
1. South Ocean Canadian Commercial Workers Pension Plan property
Following acceptance of all conditions set by the vendor's lawyer, Dr. Kovats delivered the signed purchase agreement to the vendor's lawyer in 2014, the vendor CCWPP never countersigned and returned. A $2,0 bn. development has been predesigned and submitted to the then Prime Minister Perry Christie and Town Planning, including hotel development. No answers, no comments, no decisions. The renewed project has been submitted in December, 2021
2. Love Beach
Dr.Kovats financed the first building to the previous owner who did not complete the building. In 2014-2015 Dr. Kovats foreclosed the property, acquired adjacent parcels, and received all approvals by September, 2021 only. The building plans will be executed by first half of 2022, and, again, depending on approvals time schedule, construction of the residential project is slated to begin in 2022 immediately after having received building approvals.
3. Treasure Cay
Dr. Kovats signed the sales and purchase agreement with the vendors beginning of 2021, in the midst of the COVID Pandemic. Following the complex due diligence, which is close to being completed now, closing is expected by beginning of 2022.
BIA asked for a development plan last week, which has been submitted within 2 working days, including significant investment. It took 8 unanswered emails to BIA starting August, 2021, to receive this request.
Following meeting with the DPM Chester Cooper confirming "removal of red tape and the most investor friendly government" we are confident of the "New Day" improvments.
I have written support and information letters about Treasure Cay to authorities interested in supporting The Bahamas in these challenging times, moreover expecting a very challenging 2022 ahead due to the recent Omikron spike.
All hands on deck are needed to support investment in The Bahamas, there is no time for "White Crab, Black Crab" games!
Dr. Wolfgang Groeger Kovats Family Office Vienna Austria
familyoffice says...
@Maximilianotto - the project is approved. There are no restrictive covenants. Fully residential, no hotel. Building drawings will commence early 2022, construction second half of 2022 as already outlined. The lady lawyer should read first and talk thenafter. We don’t want to comment further.
On Love Beach residents ‘in the dark’ over controversial project approval
Posted 29 December 2021, 1:33 p.m. Suggest removal
familyoffice says...
All explained in yesterday’s article - just read what has been said. The building height is legal, there are no restrictive covenants, no hotel, just residential.
On Love Beach residents ‘in the dark’ over controversial project approval
Posted 29 December 2021, 9:02 a.m. Suggest removal
familyoffice says...
Wondering how long this New Day will last? If investors become unfriendly game will be over in 2022.Wall Street Journal will soon comment on that. It all started with BahaMar de facto and criminal nationalisation. The then Christie PLP government waived stamp duty for the Chinese buyer. Interesting. So got $300,000,000.00 subsidy. Needs to be examined. Who were the persons in charge? Who benefited? The US administration will notice. Too much negativity coming up about this “investor friendly” administration.
On Piccadilly
Posted 27 December 2021, 2:49 a.m. Suggest removal
familyoffice says...
May we release the following facts regarding your article's incorrect "landbanking" comments. We have better things to do than landbanking in The Bahamas.
1. South Ocean Canadian Commercial Workers Pension Plan property
Following acceptance of all conditions set by the vendor's lawyer, Dr. Kovats delivered the signed purchase agreement to the vendor's lawyer in 2014, the vendor CCWPP never countersigned and returned.
A $2,0 bn. development has been predesigned and submitted to the then Prime Minister Perry Christie and Town Planning, including hotel development. No answers, no comments, no decisions.
The renewed project has been submitted in December, 2021
2. Love Beach
Dr.Kovats financed the first building to the previous owner who did not complete the building. In 2014-2015 Dr. Kovats foreclosed the property, acquired adjacent parcels, and received all approvals by September, 2021 only.
The building plans will be executed by first half of 2022, and, again, depending on approvals time schedule, construction of the residential project is slated to begin in 2022 immediately after having received building approvals.
3. Treasure Cay
Dr. Kovats signed the sales and purchase agreement with the vendors beginning of 2021, in the midst of the COVID Pandemic. Following the complex due diligence, which is close to being completed now, closing is expected by beginning of 2022.
BIA asked for a development plan last week, which has been submitted within 2 working days, including significant investment. It took 8 unanswered emails to BIA starting August, 2021, to receive this request.
Following meeting with the DPM Chester Cooper confirming "removal of red tape and the most investor friendly government" we are confident of the "New Day" improvments.
I have written support and information letters about Treasure Cay to authorities interested in supporting The Bahamas in these challenging times, moreover expecting a very challenging 2022 ahead due to the recent Omikron spike.
All hands on deck are needed to support investment in The Bahamas, there is no time for "White Crab, Black Crab" games!
Dr. Wolfgang Groeger
Kovats Family Office
Vienna Austria
On Kovats emerges as potential buyer for Treasure Cay
Posted 27 December 2021, 2:41 a.m. Suggest removal
familyoffice says...
May we release the following facts regarding your article's incorrect "landbanking" comments. We have better things to do than landbanking in The Bahamas.
1. South Ocean Canadian Commercial Workers Pension Plan property
Following acceptance of all conditions set by the vendor's lawyer, Dr. Kovats delivered the signed purchase agreement to the vendor's lawyer in 2014, the vendor CCWPP never countersigned and returned.
A $2,0 bn. development has been predesigned and submitted to the then Prime Minister Perry Christie and Town Planning, including hotel development. No answers, no comments, no decisions.
The renewed project has been submitted in December, 2021
2. Love Beach
Dr.Kovats financed the first building to the previous owner who did not complete the building. In 2014-2015 Dr. Kovats foreclosed the property, acquired adjacent parcels, and received all approvals by September, 2021 only.
The building plans will be executed by first half of 2022, and, again, depending on approvals time schedule, construction of the residential project is slated to begin in 2022 immediately after having received building approvals.
3. Treasure Cay
Dr. Kovats signed the sales and purchase agreement with the vendors beginning of 2021, in the midst of the COVID Pandemic. Following the complex due diligence, which is close to being completed now, closing is expected by beginning of 2022.
BIA asked for a development plan last week, which has been submitted within 2 working days, including significant investment. It took 8 unanswered emails to BIA starting August, 2021, to receive this request.
Following meeting with the DPM Chester Cooper confirming "removal of red tape and the most investor friendly government" we are confident of the "New Day" improvments.
I have written support and information letters about Treasure Cay to authorities interested in supporting The Bahamas in these challenging times, moreover expecting a very challenging 2022 ahead due to the recent Omikron spike.
All hands on deck are needed to support investment in The Bahamas, there is no time for "White Crab, Black Crab" games!
Dr. Wolfgang Groeger
Kovats Family Office
Vienna Austria
On Concerns mount over Treasure Cay future
Posted 25 December 2021, 5:56 p.m. Suggest removal