DEVCO encouraging Nassuvians to purchase land in GB
The Grand Bahama Development Company [DEVCO] is encouraging Nassuvians to purchase land in the second city to further improve the economic upswing the island has been experiencing in recent months.
Charles Pratt, who is the senior manager of sales and commercial development at DEVCO, said the company is looking to offload 2,000 fully serviced properties throughout the island.
“Grand Bahama has been impacted by hurricanes since 2004 and there was a migration of people after that, but Grand Bahama’s economic pendulum is on the upswing,” Pratt said on Monday while he was a guest on Guardian Radio talk show “The Revolution”.
DEVCO is offering funding solutions for persons interested in acquiring land without using a commercial bank.
“So the prices can start as low as $25,000 for a third of an acre of land, with term payment arrangements of 10 percent down, over five, seven or 10 years and no penalty for early repayment. These are original, unencumbered title deeds,” he said.
“DEVCO has fully serviced properties in every zone, single family, duplex, multi-family, commercial, for any perspective customer to access through funding arrangements, and DEVCO will collaborate with your financial institution or if you want you can make a down payment to DEVCO or a term arrangement with DEVCO, that is done easily.”
The properties available are in 47 communities throughout the island, including Chesapeake and Lincoln Park.
“Freeport port area has a master plan, so you will not see next to your house a gas station being built, a liquor store across the street or churches across from you. When you are in a residential area, you are in a residential area,” Pratt said.