Rum Cay is becoming a chic locale for the in-crowd looking for the perfect place to get away. Quite a few recognizable buyers have shown interest in building their own private getaways on Rum Cay.
Miami Beach, FL (Vocus) September 22, 2010
The Paradise Is Mine Company announced Tuesday that it will continue to review institutional financing offers from Wall Street financiers for additional infrastructure on the island of Rum Cay in The Bahamas. Fresh investment capital from private and institutional investors signifies the viability of The Bahamas as a burgeoning destination for the construction of second homes, travel and tourism. The Company announced that it is finishing its quarterly fundraising efforts on September 23rd to conclude the third quarter.
The funding provided is expected to dramatically enhance the existing infrastructure of Rum Cay, a postcard perfect Caribbean island in the southern Bahamas. Rum Cay currently has all needed infrastructure for its current population. The island is the switching station for all fiber optic networks between Florida and the southern Bahamas and provides cellular services to the region as well. Investor funds will support The Company’s continued pre-development efforts in The Bahamas and in other Caribbean and South American locales.
The financing is from a syndicate of Wall Street and international investment firms attempting to cash in on the increased marketability of Rum Cay and The Bahamas. William Myers, Paradise Is Mine’s Chief Financial Strategist, echoed his previous public statement that “the details will be made public in the very near future when all the i’s are dotted and the t’s are crossed. We have had no shortage of interested financial partners. The market seems to have definitely corrected. The core of our investment focus has significantly shifted towards institutional investment.”
Recently, The Peoples Republic of China announced a $2.6 billion dollar investment in Nassau creating 11,000 Bahamian jobs and is expected to add $1 billion in new spending to the economy in the first year after completion. A financial commitment of this magnitude is a clear signal that The Bahamas continues to lead the Caribbean real estate market.
Rum Cay has recently become the focus of international hipsters, financiers and celebrities desiring to build vacation homes. “Rum Cay is becoming a chic locale for the in-crowd looking for the perfect place to get away. Quite a few recognizable buyers have shown interest in building their own private getaways on Rum Cay.” said company spokesman Daniel R DuPont III.
Paradise Is Mine, an “international real estate Marketmaker” had previously announced plans to unveil projects in the Dominican Republic and intends on announcing a project near Medellin Colombia some time in late 2010.