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Company News

In September 2002 George and Virginia, the owners of Damianos Realty Company, purchased Lyford Cay Sales & Rentals. This company was the sales arm of the Lyford Cay Company which was founded in 1958 by developer of Lyford Cay, Mr. E. P. Taylor.

Lyford Cay has become the Bahamas most exclusive and sought after Oceanfront & Golfcourse community.

Lyford Cay Sales & Rentals is the only real estate company located in this world renowned development. The offices are located on Lyford Cay Drive and covers sales and marketing, long and short term rentals, and management services of properties in Lyford Cay and Old Fort Bay.

The Damianos family intends to apply its years of real estate experience and knowledge of international marketing to enhance the services provided by Lyford Cay Sales & Rentals.

To visit the Lyford Cay Sales & Rentals website, click below:

Lyford Cay Sales & Rentals

US MORTGATES AVAILABLE FROM PRIVATE BANK

We are working with a private bank to provide our clients with US dollar first mortgages on their home, yacht or securities portfolio.

First mortgages available for 15 years on 50% LTV at an interest rate of 3% over 1 month LIBOR. Repayment term 180 equal monthly payments.

There is a 1% arrangement fee and 1/4% commitment fee payable when offer letter is issued.

If you want to buy a home or refinance your existing home in the Bahamas contact George Damianos for more information.

THE TRIBUNE - Wednesday, August 23, 2006

Baha Mar

Baha Mar, a joint venture between Baha Mar Development, Harrah’s Entertainment Inc. and Starwood Hotels and Resorts Worldwide Inc. is to develop a one of a kind 1,000 acre mixed use resort development in Nassau, Bahamas. The $2 billion Baha Mar resort development will feature Caribbean design elements inspired by the region’s lush natural landscapes and waterscapes along with 2300 guest rooms in 4 new hotels, the largest casino in the Caribbean, a world class luxury destination spa, a Jack Nicklaus Signature golf course, eco-water park and convention facilities. The resort is located on Cable Beach, 10 minutes from Lynden Pindling International Airport along 3,000 feet of the most beautiful beachfront in the Caribbean, Construction is to begin in 2007 with opening set for 2010.

THE TRIBUNE/MIAMI HERALD - Monday, August 28, 2006

George Damianos included among Unique Home's Elite 2006 realtors

THE GUARDIAN - March 17, 2006

Damianos Sotheby's Office Opens in Eleuthera

THE TRIBUNE - September 14, 2005

Industry Legend Mourned

THE TRIBUNE - June 24, 2005

George Damianos is named among Top Luxury Specialists

THE TRIBUNE - April 21, 2005

AL Deleveaux is named the first BROKER OF THE YEAR by BREA

Picture Caption: MR. DELEVEAUX is pictured (right) with Damianos Realty's Virginia Damianos-Premock

A DAMIANOS Realty Company employee has won the first-ever Broker of the Year Awards presented by the Bahamas Real Estate Association (BREA).

The award, created to honour individual Bahamian realtors who have made major contributions to the industry, was presented to 60-year veteran Alphonso 'Al' Deleveaux.

Mr. Deleveaux was employed as Nicholas Damianos Snr's 'right-hand man' when Damianos Realty was founded in 1945, and has been with the company ever since.

He specializes in large and small, developed and undeveloped, land and residential properties.

BREA was founded in 1959 and has licensed more than 400 qualified individuals as brokers, salesmen, appraisers and developers.

GROUNDBREAKING TAKES PLACE FOR 205 HOMES DEVELOPMENT

The Tribune - Local News - January 11, 2005

(Photo: Ground breaking ceremony with Minister of Housing, Developer and Prime Minister)

PRIME Minister Perry Christie yesterday broke ground for the development of 205 exclusive homes in the western district of Nassau.

The Charlotteville community will be situated on prime land between the Nassau International Airport and the Old Fort Bay community.

Almost 75 per cent of the community's homes have already been sold. The cost of the homes will start from $225,000.

The upcoming development will feature 24-hour security and has plans approved for a community centre club house, swimming pool, floodlit tennis courts and spacious landscape.

The infrastructure is expected to be completed by December of this year.

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The developent company for Charlotteville has also built 100 homes including canalfront homes near Lyford Cay in the area known as Islands at Old Fort.

REAL ESTATE SET FOR STRONG 2005 GROWTH

The Tribune - Business Section - January 10, 2005

Despite two devastating hurricanes, the Bahamian real estate market has remained largely unaffected with initial projections for 2005 suggesting a strong growth year through increased sales in prime Family Island destinations, analysts told The Tribune.

A principal with Damianos Realty, George Damianos, has only positive predictions for 2005. He said New Providence's domestic market buyers continued to look to the West for prime residential property.

Gated communities remained heavily sought after, as buyers looked for security and a strong maintenance programme and location. Lyford Cay had remained a very active market, particularly over the Christmas period, with expectations that the area will continue to attract much attention in the coming months.

For the foreign market, buyers continue to look strongly at the Family Islands. As one of the most sought after destinations within the Bahamas, Abaco, despite suffering substantial devastation in some parts from the hurricanes, had rebounded strongly particularly as the tourism sector returned to normal.

Mr. Damianos said the New Year is expected to provide a real estate bonanza, with sales expected to top levels seen in 2004 as both the local and foreign market look to secure strong investment.

SOUTH ELEUTHERA IS SET FOR A COMEBACK

The Tribune - Local News - Nov. 15, 2004

Cape Eleuthera Properties Ltd. plans to resurrect the once popular Cape Eleuthera resort, beginning with a 63 unit residential project called Powell Pointe, including extensive renovations to the Cape Eleuthera marina, construction of a beach/bar-style restaurant and major infrastructure upgrades at the site. A Heads of Agreement with Government is expected in the near future. Eleuthera Properties' new development - Seashells at Cotton Bay, Powell Pointe, and possibly the Samiento Project - together will rejuvenate the economy of South Eleuthera, and offer new properties and developments to clients all over the world searching for their "dream island home".

HISTORIC SIGNING FOR $300M RESORT IN ELEUTHERA

On Monday November 8th, 2004 - The Government entered into a heads of agreement with Eleuthera Properties for the development of a five star resort community with facilities and amenities, including a marina at Jack's Bay and the marina at Davis Harbour.

The signing of the heads of agreement marks the first significant tourist investment of a Bahamian group in the Bahamas.

The undertaking is led by Franklin Wilson and Eleuthera business man Albert Sands.

(Photo: Present at the Heads of Agreement signing reception from left to right: Jonathan Morris, Damianos Realty (Eleuthera Office), Virginia Damianos (Vice President, Damianos Realty) and Franklin Wilson, one of the principals of Eleuthera Properties.

The resort will be completed in two phases.

Phase One will comprise a boutique hotel consisting of no less than 69 rooms, including a clubhouse and related facilities; and a residential subdivision of approximately 114 estate lots.

THE TRIBUNE

WEDNESDAY, FEBRUARY 4, 2004

THE TRIBUNE

TUESDAY, MAY 27, 2003

PHASE 3 GETS GO-AHEAD

ATLANTIS EXPANSION AIMS TO CREATE 2,000 NEW PERMANENT JOBS

BY RUPERT MISSICK JR.

TRIBUNE STAFF REPORTER

(Photo: Prime Minister Christie and Butch Kerzner)

Prime Minister Perry Christie signed an agreement yesterday which will allow Kerzner International to increase its investment in the Bahamas to $1.7 Billion, making it the largest resort development created any where in the world.

When Phase III of Atlantis is complete, the resort will have 3,500 rooms and employ on the property a minimum of 8,000 Bahamians. Yesterday, government signed a heads of agreement with Kerzner International for the $600 Million expansion.

Work on this new project, the largest in the history of Bahamian tourism, is expected to start before year-end and all phases are expected to be completed by the year 2007.

It is anticipated that during the construction period over 1,500 persons will be employed and a minimum of 2,000 additional permanent jobs will be created for Bahamians once the new facilities have been completed.

The Prime Minister predicts that the impact on the economy will be “enormous and far reaching.”

“The scale of what we have been negotiating over the past several months for our company is extraordinarily historic and clearly demonstrates that we have confidence the Bahamas, in its government and in the respects of where we are going to head from here,” said Butch Kerzner, president of Kerzner International.

Taking this step at this time was not an easy move for Kerzner International.

With the world economy going through a difficult time, the travel industry in disarray, many of the larger hotel companies are closing or on the verge of bankruptcy.

Some of the biggest and most successful properties in the world have reported enormous declines in their tourist arrivals.

It is against this backdrop that the company is making this bold investment.

The new expansion of Paradise Island will include, among other things, a new 1,200 room hotel to be situated at Pirates Cove, three new luxury villas at the Ocean Club, 20,000 square feet of additional restaurant and retail facilities around the Atlantis marina and the attendant creation of a wide range of new entrepreneurial opportunities for Bahamians.

In addition, 120 new two-bedroom timeshare units we be constructed in Harbourside, the company’s timeshare project located along Nassau Harbour. Also 50,000 square feet of additional convention facilities will be added.

Subject to environmental approval, and in conformity with protocols of an international standard a world-class ecologically sensitive link golf course will be created at Athol Island in a joint venture with government.

“It is impossible to envisage a more compelling indication of investor confidence in the government and the people of the Bahamas and in brilliant prospects of our tourism industry,” said Prime Minister Christie.

In commenting on the Heads of Agreement, the Prime Minister drew particular attention to some of the more important undertakings by Kerzner International. These include the utilization of Bahamian materials, services, contractors, sub-contractors and labour wherever possible.

Recognizing that a world-class tourist destination must be supported by sound and dependable infrastructure the government has committed to a number of improvements, the benefits of which will be shared by Bahamians and visitors alike. These include the continued improvement of road networks in New Providence.

Also joint marketing programmes between the Ministry of Tourism and Kerzner International will involve up to $4 million per year for a period of five years, with Kerzner International matching the government’s contribution dollar for dollar.

The Prime Minister underscored the soundness of the agreement in light of the massive economic benefits that will accrue to the Bahamian people and the stimulation of foreign investment capital into the Bahamas.

THE TRIBUNE – May 14th, 2003

‘Mega-rich retreat’ plans for Cherokee Sound

The people of Cherokee Sound, Abaco, were last night being briefed on a new development project which would create a “mini-Lyford Cay” right on their doorsteps.

A “rich people’s retreat”, complete with golf course and marina, has been proposed for the Winding Bay area by tycoon Peter de Savary.

He wants to create an exclusive club for the mega-rich on Abaco and has described the scheme as “a project of love”.

Forum

Last night Mr. De Savary or his representatives were expecting to meet Cabinet minister Allyson Maynard-Gibson before staging a public forum in Cherokee Sound, MP Robert Sweeting was also expected to be present.

The 140 residents of the settlement are adopting a “wait and see” attitude to the proposal. But some acknowledge that it could mean an economic boost for the area.

Mr. De Savary’s plan is for a 20-room clubhouse and 60 or 70 rental cottages on a big swathe of land, which would also include building lots for sale at $1 million each.

The site overlooks a fine beach and, because of it’s proximity to the United States, is considered a perfect spot for an island retreat for millionaires.

The club would offer horse stables, tennis courts, bone fishing facilities, a small marina and exclusive membership to the super-rich.

An Abaconian said yesterday: “If it goes ahead, it is bound to provide work for locals. After all, these people need mechanics, domestic help, guides and various other helpers, and that means it is bound to be good for the area.”

Concern has bee expressed that part of a beach, which has for many years been used by locals, will no longer be accessible.

But the developers have given assurances that the public’s interests will be taken into account.

Cherokee Sound is a self-contained fishing community, which, for generations, was virtually cut off. Then a 14-mile road was cut to give it vehicular access to the rest of the island.

Entrepreneur

Mr. De Savary, an English entrepreneur who specializes in upscale developments, owns Skibo Castle, the magnificent estate in northern Scotland, once owned by multi-millionaire philanthropist Andrew Carnegie.

Skibo is run as an exclusive club for the mega-rich. Sir Sean Connery is said to be a member.