Replay Destinations Ltd., a Bahamas developer, has announced the public opening of One Ocean, a luxurious oceanfront condominium residence on Paradise Island.
Replay unveiled a small range of fully reimagined condominium and penthouse residences, as well as breathtaking open areas with views of Nassau Harbour and the Caribbean Sea, this past weekend. One Ocean had earned over $34 million in total sales commitments for the residences by the end of the weekend.
In 2015, Replay purchased the entire 79-unit building at the former Ocean Place condominium development on Paradise Island, including all 52 unsold residences. Replay started work on a multimillion-dollar renovation and transformation of the residences and common areas after acquiring the property.
Replay collaborated with renowned Montreal interior designer Patty Xenos Design and Bahamian architect Andrew Stirling to create brand new floor plans with modern and luxurious interior design concepts that distinguish One Ocean in the market and capitalize on the residences' views and spacious outdoor living areas. For owners and visitors, the design team also built a more private and intimate arrival, courtyard, and pool deck experience.
The sales success of One Ocean, according to Michael Coyle, CEO of Replay Resorts, "confirms that there is significant real estate buyer interest for thoughtfully built residences in the Bahamas, especially in Nassau." apartments
"We saw the purchase of these condominiums as a fantastic opportunity to construct homes in a desirable location for real estate buyers. The location of One Ocean on Paradise Island is ideal: it faces Nassau Harbour, is next to Ocean Club, across from One and Only, and is within walking distance of the beach and Atlantis "Mr. Coyle said. "This initial sales success shows strong interest from real estate investors who want a house on Paradise Island and are delighted with what we've done to make One Ocean a perfect place to live," says the developer.
One Ocean, Paradise Island's tallest residential hotel, provides spectacular views of Nassau Harbour, the Ocean Club golf course, and the Atlantis Resort in all directions.
"For the past six months, we've had a strong local construction team on-site. Their dedication has brought us to this stage "Replay Destinations' Managing Director, Bill Green, said (Bahamas). "Everyone who visits One Ocean, as well as the new buyers we are welcoming as homeowners, compliments them on their diligence and intense work in transforming the residences."
The pipeline for hotel development in the Caribbean and Mexico dries up in August.
According to STR's August 2016 Pipeline Study, the Caribbean/Mexico area has 27,951 rooms under contract in 172 projects. In comparison to August 2015, the total number of rooms under contract has decreased by 1.7 percent.
Projects in the In Construction, Final Planning, and Planning stages are included in the Under Contract details, but projects in the unconfirmed stage are not.
For the month, the area announced 13,098 rooms in 82 projects under construction, a 0.9 percent rise in year-over-year comparisons.
Mexico had the most rooms in construction among the countries in the country, with 8,306 rooms in 60 hotels. The Dominican Republic was the only other country with more than 1,000 rooms under construction (1,512 rooms in six hotels).