White sandy beaches and warm ocean waters make the tropical islands of the Bahamas a popular holiday destination for the rich and famous - and now mainland buyers are being offered an opportunity to set up home in Nassau, capital city of the Caribbean island chain.
Baha Mar - a US$3.5 billion mainland-backed resort comprising hotels, luxury homes, a retail complex, a golf course and a casino - is under construction and due to open in 2014.
'We launched the project to mainland buyers earlier than launches in London and Singapore,' said Richard English, senior vice-president of residential sales for the developer, Baha Mar.
A reason mainland buyers are getting priority is the fact that Baha Mar is financed by the Export-Import Bank of China and being built by China State Construction Engineering Corp (CSCEC). 'So we want to show respect to our partners,' said English.
In recent months, several large developers around the world have reportedly been turning to mainland backers to seek funding for projects.
Planning for the project got under way in 2008 after the global financial crisis erupted, but that presented an opportunity, English said.
'There were no new projects or big hotel developments being planned because of the recession in Europe and the United States. China State Construction had been in the US for 25 years, but had no big project on its books. So we agreed to give them work for four years and purchase significant quantities of construction material, furniture and fittings from the mainland. We also promised to bring 5,000 mainland workers to Baha Mar.'