The entrance to the spectacular Adams Castle Estate community.
Business Monday: Adams Castle booming
A marked uptick in reservations and purchases at the scenic Adams Castle Estate property development, could signal a return to real estate as a first choice investment for Barbadians, seeking both a housing solution and a means of making the best return on available financial resources.
Elias Haloute, developer and Director of Adams Castle Development Inc., said this was his observation following a successful land showcase last week. He said there was an encouraging response from Barbadians who toured the property, and engaged with representatives from the local financial sector.
“This was a very successful event for us, with customers and potential investors either taking steps to begin the purchase process, or reserving a number of the remaining lots. Reservations have continued to come in since Saturday, when we were really heartened to see the number of young Barbadians showing a keen interest in becoming part of this very attractive development,” Haloute said.
Noting that at last count, over half of the lots at Adams Castle Estate had been sold or reserved, Haloute said with prices starting as low as BDS$15.00 per square foot for ample sized, investment grade, residential lots, it was only a matter of time before Barbadians seized on what was a once in a lifetime opportunity. He said people were clearly once again looking at real estate as the best investment in a low interest rate environment.
“Real estate will always appreciate in value, and also provides the best hedge against any uncertainty in the economy. We are confident that you will not find a nicer development than Adams Castle Estate anywhere in Barbados. This is a secure residential community with fixed entry points, located two minutes away from Sheraton Centre, and 15 minutes to the Airport or the City. Investors will also benefit from many modern features, such as having basic utilities like electricity, natural gas, water, telephone and Internet all routed underground.”
Haloute said with several houses already completed or under construction, Adams Castle Estate was fast developing into the secure residential community which he had envisaged.
Prices on lots remaining across the 37.6 acre site have been considerably reduced, allowing investors who complete their purchase in 90 days to benefit from significant savings into the many thousands of dollars.