A 180-acre private island in the Exuma Cays is presently under contract, less than two months after the sale of the 167-acre Children's Bay Cay was finalized, Guardian Business understands.
After being on the market for less than year, a prominent Swiss woman purchased Children's Bay Cay, a private island located just north of Great Exuma, back in September.
George Damianos, president and managing broker at Damianos Sotheby's International Realty, said these latest transactions have "broken the ice" and created some movement in the Exumas, an area that has remained stagnant for several years.
"The billionaires of the world are attracted to the Exuma Cays and the private islands in the Exumas. I think it's fantastic for Exuma that the island has been sold. It's been awhile since an island of this size and at this price level has been sold in the Exumas," he said.
"This sale does fit that category and it's wonderful that The Bahamas has been able to attract these types of people."
While the asking price for the exclusive beachfront property was set at $29 million, it is unknown what it was actually sold for.
Children's Bay Cay has seven pristine beaches, a gazebo, hidden grottos, coconut trees and vistas, and a brand new private marina. It also has three houses, a one-bedroom cottage with a kitchen and bath, a caretaker's quarters with two bedrooms, two baths and a security unit, a large seaplane/helipad ramp, three boats, a power plant and an 8,000 gallon/day reverse osmosis system.
Sources on the island have also confirmed to Guardian Business that work is presently being done on Children's Bay Cay and nearly three months ago, a delegation of government officials including Minister of State for Investments Khaalis Rolle, Minister of the Environment Kenred Dorsett and BEST Commission representatives visited the property with the new owners.
The purchasers of Children's Bay Cay have now joined an exclusive group of private island owners in the Exumas including Johnny Depp and David Copperfield.
Earlier this year the Ministry of Tourism unveiled its $15 million advertising campaign - that had also been designed to attract investors - beginning with star-studded ads featuring former NBA player Rick Fox, international supermodel Shakara Ledard and world-renowned magician and illusionist David Copperfield. The campaign was rolled out in February.
Minister of Tourism Obie Wilchcombe suggested Copperfield's involvement would create a significant investment draw.
"(Copperfield's) appeal would be to the potential investor because he came here and bought Musha Cay. When you look at who goes there, you are talking about extremely high-net-worth individuals like Oprah Winfrey. So, we are also going to be using David Copperfield," Wilchcombe noted.

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