NIHALI COMMODITIES CORP
NIHALI COMMODITIES CORP
A Puneet Dureja Corporation
A Puneet Dureja Corporation
CASINO
CASINO
EXECUTIVE OVERVIEW
EXECUTIVE OVERVIEW
Nihali Resorts and Casinos Ltd.'s primary objective is to build a super luxury hotel – resort – casino complex that is second to none anywhere in the world. We will set the standard for VIP Service in a luxury setting that will primarily cater to 7-star casino players – In a place we call “The 8 Wonder of the World.” The project is currently called The Barbary Beach Development.
LOCATION
Located on Grand Bahamas Island, the development of Barbary Beach presents an unparallel opportunity of 2000 acres of the most premium real estate in the Caribbean. The property has the most beautiful beaches along its western shore with approximately 12,000 linear feet (over 2 miles) of pristine beach front.
The property rests among the Grand Lucayan Waterway established many years ago with navigation channels with a protected inlet access to the Atlantic Ocean.
The size and proximity of the Grand Bahamas to the United States is unmatched – only 60 miles from Florida.
CONCEPTUAL MASTER PLAN
The conceptual master plan for the development incorporates the natural surroundings of the property to include our master plan for the project. The plans for construction of the project include:
- HOTELS: We are already speaking to some of the top hotels in the world as to the unique design we require for this special project. Room sizes will all be large and grand to insure the type of comfort that VIP players expect. Each guest will be afforded individualized VIP services with a view of the light blue turquoise waters of the Caribbean. The hotels and casino will occupy the ventures finest site within the development.
- CASINO: Casino games and betting limits will be structured toward VIP 7-Star players. From private areas in the casino to private in-room gambling for those gamblers who wish to gamble by themselves or remain anonymous – our players will feel more relaxed and comfortable associating with other 7-Star type players.
- MARINA AND VILLAGE: The development will include a 393 slip marina capable to berth mega yachts up to 400 feet and a marina village residential component of 185 units will be sold. Developed on the south side of the marina basin is the gated yacht club community comprised of a large marina, 260 high end residences, clubhouse, and deep water dockage. Adjacent to the yacht club, an ultra exclusive, five star, gated residential communities with ocean front lots, deep water canal lots, and private marina, will be developed on 150 acres of land and water. Needless to say, the lots and homes will be exclusive and very expensive.
- GOLF COURSE: Tiger Woods, the world's number 1 golfer has already agreed to design our primary and main course. Not only will this be a course that all golfers will want to play, but residential lots will be sold along side of the golf courses as residential patio homes with spectacular ocean and canal views, club house, and banquet facilities. This golf course will be strictly for private residences on hour complex and hotel and casino guests.
- TIMESHARE AND CONDOS: Located just west of the entrance to the Grand Lucayan Waterway, a timeshare / condo fractional village are developed to accommodate 350 high end units for guests with a private docking facility.
- CONFERENCE CENTER AND SPA: Attached to the resort is a 20,000 square foot spa and tennis facility for permanent residents and guests. A conference center / showroom will be built for first class entertainers, sporting events, and business conferences. Networking among the guests will certainly be an advantage that many business leaders will appreciate.
- A GATED COMMUNITY: The only way into or out of our complex will be either through the ocean, or via a secure gate for vehicular transportation. We have already been approved to have our own passport control located in our development for individuals arriving by boat from other countries. A transportation hub for residences, guests, and employees will be developed to accommodate parking and central transportation throughout the development. We will incorporate specially designed water taxis that guests and permanent residents can take from one side of the complex to another. A Venice like atmosphere in the Grand Bahamas.
PLANNED INFRASTRUCTURE
The Grand Bahama Island's infrastructure is perhaps the best in all of the Caribbean and Bahamas. Grand Bahama has all necessary infrastructures in place to fulfill the comprehensive master plan of Barbary Beach. This includes over 400 miles of paved roads and 8 miles of canals with bulkheads in place; An abundant crystal spring freshwater supply; The Grand Bahama Island airport is new and is one of the most modern in the Caribbean. It's runways have been lengthened to 11,000 feet to accommodate 767's and 747's. In addition, it is only 9 miles from the planned site; GBI (Grand Bahama Island) has a seaport capable of handling the world's largest container vessels, and cruise ships.; A labor force with the highest literacy rate in the Bahamas and second highest in the Caribbean; A modern, reliable power supply operated by Southern Energy of Atlanta, sewer, and water supply was developed per USA standards and are maintained by Grand Bahamas Port Authority;
CASINO LICENSE
The Barbary Beach development has obtained an approved casino license for full gaming at the site. There are only four licenses on the island with no more being offered. The other licenses are small boutique style operations not in competition with this development. There is currently a moratorium for no additional casino licenses with the Bahamian Government. The casino as well will have the ability to set up a sports betting facility and due to the location of GBI being near Palm Beach, Florida, it is a quick plane or boat ride to access it.
PRO BUSINESS – PRO INVESTMENT
Grand Bahama Island offers significant tax and development incentives toward investors, developers, and operators of its licenses that are not offered on any other Bahamian Island.
- Through the Hawksbill Creek Agreement, GBI is able to offer freedom of property taxes, customs, duties, excise and other taxes up to year 2054.
- The Hotel Encouragement Act gives special privileges to private capital for building hotels and resorts throughout the island. The act provides customers duty exemption on materials and equipment imported as well as tax guarantees and concessions for improvement of guest facilities.
- Under this act, a new hotel is exempt from all taxes for the first 10 years of operations, and during the second ten years taxes are limited to twenty dollars US per hotel room. Hotel earnings are exempt from direct taxation for twenty years after the opening date. These concessions apply to all amenities relating to the hotel / resort, such as casino, spa, retail, marina, commercial, golf course, and infrastructure.
- During our meetings with the Grand Bahama Port Authority, all building permitting / entitlements / licenses are guaranteed and approved.
The financial advantages place Grand Bahama Island ahead of the rest of the Bahamas and at the top of any shortlist of the world's most financially attractive locations for new investors and businesses. More than 400 offshore banks operate in The Bahamas, and these banks contribute over $350 million annually to the gross domestic economy. Over 700 active mutual funds operate in the country, with over $92 billion in assets.
The major politicians of GBI, including the Prime Minister, have given their blessings to our project. This will be the single largest investment in the entire Caribbean and they strongly appreciate the fact that the Barbary Beach Development projects itself as a super-luxury, upscale, VIP venture.
TOURISM
The ministry of tourism reports that over 2,000,000 tourists visit GBI each year. GBI is the second busiest tourist island in the Bahamian chain. This number is expected to double in the next few years with the expansion of the international airport. GBI International airport allows passengers to pre-clear US Customs withing GBI and depart anywhere in the US. The Island receives cruise ship passengers from all the major cruise lines, and expects significant growth with the addition of the new cruise port. The Grand Bahama Tourist Board through its own cost has been aggressively re-branding GBI as a high end tourist and resort destination. The Grand Bahama Tourist Board has given full support for the development at Barbary Beach.
WEATHER
Grand Bahama Island has a tropical marine climate year round moderated by the warm waters of the Gulf Stream. The temperature ranges from the high 80's Farenheight to the low 70's Farenheight in the winter. The property is located approximately 215 miles north of the Tropic of Cancer, which allows mega yachts to home port under insurance regulations for the duration of the entire year, where as, if located south of the Tropic of Cancer, yachts may not port within the months of June to November. We have acquired letters from 3 major insurance companies attesting to the fact that the Grand Bahamas insurance rates are similar to South Florida, available all year round, and that the GBI is in the best location of any Island in the Bahamas chain.
The Bahamian Dollar is pegged to the US dollar which makes it very affordable for US citizens to visit the Grand Bahamas – and very inexpensive for foreigners whose currency has appreciated against the dollar. The official language of Grand Bahamas Island is English. The labor force and population of Grand Bahama have the highest literacy rate in the Bahamas and second highest in the Caribbean.
We strongly feel that the Barbary Beach Development offers tremendous potential. From it's proximity to the United States, pro business environment, approval from the Prime Minister and entire cabinet, a conceptual master plan that includes revenues from many different sources, in a country whose official language is English and local currency pegged to the dollar - in arguably the most beautiful location in the world. This is an opportunity that should not be missed. We intend on taking full advantage of this venture. A VIP venture we nickname, “The 8 Wonder Of The World.”