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$6M Hilton loan outstanding, says Auditor General

$6M Hilton loan outstanding, says Auditor General

Before Government proceeds with its plans to sell the Hilton Barbados Resort, there is some unfinished financial business which this country’s Auditor General Leigh Trotman would like to have urgently settled. In his just-released 2016 report, Trotman revealed that over $6 million was owed by Needham’s Point Holdings Limited to Government, following an agreement signed […]

Sell resort to Barbadians, Government advised

Sell resort to Barbadians, Government advised

Home drums must beat first in the sale of the Hilton Barbados Resort, and the process must be transparent, the Freundel Stuart administration has been advised. The local private sector Wednesday backed Government’s decision to divest itself of the Needham’s Point, St Michael property, with some members recommending this should be only the beginning. Those who […]

Mortgage and vehicle loans fair

Mortgage and vehicle loans fair

Individuals looking to purchase vehicles or mortgages got some much needed advice from CIBC FirstCaribbean International Bank today, as the institution teamed up with realty companies and car dealerships to host its mortgage and vehicle loan fair. The event was held at the Warrens Banking Centre, Dome Mall. Branch manager, Malcolm Martindale told Barbados TODAY […]

Bring on Hyatt

Bring on Hyatt

One of this island’s real estate and property management magnates is throwing his support behind the proposed 15-storey Hyatt Centric Resort. Chief Executive Officer of Terra Caribbean Andrew Mallalieu said he was yet to hear any “credible argument” as to why the multi-storey hotel should not be built at the proposed Lower Bay Street, Bridgetown […]

Luxury gone soft

Luxury gone soft

The real estate market here is facing some significant headwinds, with the local/middle income segment recording a decline of about 40 per cent in transactions over the past ten years despite a weakening in property value. In addition, Chief Operating Officer of Terra Caribbean Hayden Hutton said the value of the luxury/foreign segment also declined […]

Old BET property goes under the hammer

Old BET property goes under the hammer

The ten-acre commercial site in Wildey, St Michael, which houses the BET buildings, could be in the hands of new owners by the end of October this year. Fortress Caribbean Property Fund Limited SCC (Property Fund) reported in its half year report for the period ending March 31, 2016, that a conditional offer for sale […]

O’Sullivan pleased with Port Ferdinand performance

O’Sullivan pleased with Port Ferdinand performance

Barbados’ newest multi-million dollar luxury accommodation, Port Ferdinand Marina, is performing way above expectations with nearly a dozen units sold since it went on the market just under five months ago. Word of that has come from Eoin O’Sullivan, group general manager of Unna Luxury Resorts and Residences, resort company of the St Peter property. […]