A $73m investment is aiming to attract 36,000 guests per year at full build-out of a “zero carbon” residential and yacht community on an Exuma cay located just three miles from Georgetown.
The Ki’ama Bahamas project, in an Environmental Impact Assessment (EIA) viewed by Tribune Business, said its plans to develop a 36-acre community on the southern third of Elizabeth Island will create permanent employment for 80-85 Bahamians as well as 45-60 local jobs during the three to four-year construction period.
Describing their vision for a “first-class, fully sustainable, zero carbon, solar-powered residence and yacht community”, the developer consortium said: “Resort guests and owners will have the ability to enjoy the world’s most pristine and undiscovered destinations without negatively impacting the environment…..
“Ki’ama Bahamas’ project construction timeline is anticipated to be up to five years. Total development costs are anticipated to be up to $73m. At full build, the project anticipates annually accommodating up to 36,000 guests spanning nearly 10,000 occupied room nights, or a projection of nearly 5,000 round trips to The Bahamas. The annual guest projection equates to roughly 100 average guests per day on both land and sea.
“Even if all guests were on land, this would equate to approximately three guests per acre. Despite the low-density nature of the project’s occupancy, to mitigate potential impact to the environment during operations by utilising electric golf carts, restriction of single-use plastics, significant way-finding signage to ensure guests remain on gravel roads or established trails, and abundant waste and recycling receptacles reducing potential litter.”
Research by Tribune Business revealed that the Ki’ama Bahamas development is a joint venture between three entities who have formed Ecoisland Development. They are Mauritius-headquartered Silent Resorts, billed as “the world’s first integrated land/sea, ultra-sustainable, private, secure, 100 percent solar-powered, luxury and adventure brand”, together with Equity Residences, a real estate investment fund, and Elite Alliance, a residence club owner.
Silent Resorts, whose chief executive and founder, Victor Barrett, appears to be the Elizabeth Island project lead, states on its website that it has selected Exuma and The Bahamas to host the prototype for its “new model of sustainable development” that includes fully solar-powered yachts.
Touting their experience, the three project partners say they have collectively “facilitated the development and financing of more than 35 real estate projects, raised and deployed in excess of $800m into real estate offerings and generated in excess of $1bn in real estate sales”.