NASSAU, Bahamas, May 27, 2022 — Prime Minister the Hon. Philip E. Davis and Minister of Transport and Housing, Hon. JoBeth Coleby-Davis, officially commissioned the Pinecrest Subdivision in New Providence today in conjunction with Minister of Works and Utilities, Hon. Alfred Sears, and Parliamentary Secretary in the Ministry and Member of Parliament for South Beach, Hon. Bacchus Rolle.
On January 28, 2022, the Ministry of Transport and Housing participated in a groundbreaking ceremony with Arawak Homes Limited for the Pinecrest Subdivision. Today, four short months later, Prime Minister and Minister Coleby-Davis presented keys to three of the first homeowners in Pinecrest – one of them an 18-year-old.
The Pinecrest Project fulfils the Davis Administration’s pledge to empower Bahamians by making the economy work for them. The grand opening of the subdivision comes on the heels of the FY2022/2023 National Budget presentation earlier this week.
“When we came into office last September, building affordable homes was one of our urgent priorities. We knew it couldn’t wait,” the Prime Minister said. “That’s why eight months into our term, we’re able to celebrate here today. Minister Coleby-Davis led the way, with a lot of resourcefulness and determination. As you can see, we’re serious about helping Bahamians across the finish line to new homes and new beginnings.”
Mr. Davis also noted that the budget includes the expansion of concessions for first-time homeowners and buyers, reducing duties on building supplies and other exemptions.
Minister Coleby-Davis reiterated the Government’s commitments to housing as a basic right and to pursuing public-private partnerships to develop new subdivisions like Pinecrest.
The first phase of Pinecrest will consist of 47 homes. There are seven housing models in the Pinecrest development – Sea Grape, Freedom Farm, Coco Plum, Guinep, Dilly, Juju, and Tamarind. All housing models feature three bedrooms and two bathrooms, have concrete frame construction, storm-rated windows and doors, and attractive facades. Home prices start at $169,000.
Read PM’s remarks: https://bit.ly/3GrfaZ0
Review Pinecrest Subdivision Fact Sheet: https://bit.ly/3t2RNzk
