Blue Island Estate: The Floating Luxury Community Where Homes Cost Up to $1 Billion
Who wouldn’t want to live on their own private island?
Lately, more and more people are trying to make that dream a reality, perhaps even more so because of the COVID-19 global pandemic. According to a report from CNN, several island brokers have reported large upticks in demand for purchasing property on private, floating real estate gems.
One such broker is the Blue Estate Group, who has unveiled their plans for a luxury real estate development just a short plane ride away from Nassau, Bahamas. Hoping to launch as soon as 2025, The manmade Blue Island Estate will accommodate around 15,000 residents. With property prices starting from about $19,800 for a 20 square meter apartment, to “signature estate” mega-mansions estimated at over $1 billion, these properties are certainly exclusive.
Erik Schmidt, Chief Communications Officer for the Blue Estate Group, says that “there are no special requirements to become a resident on the Blue Estate.” Residents and visitors simply have to comply with the community’s guidelines and rules while being able to “self-maintain” life on the floating paradise. Residents will also be able to purchase business licenses if they wish, with the strong incentive of not being subject to the usual tax laws.
With the pandemic creating more remote work opportunities in the past year and a half than ever before, Schmidt believes that Blue Island Estate will offer the best of both worlds: “The world’s most exclusive private residence” coupled with “[the freedom] to choose a ‘home base’ that meets their individual requirements best.”
But there are certain requirements (outside of the necessary wealth to purchase such property), as residents need to present a “groundbreaking architectural concept” before approval of purchase — and Schmidt has confirmed that the group has already received one such application.
The island itself could be considered a “groundbreaking architectural concept.” A self-contained community with everything from its own health clinic to an international school, the floating community will also be green and energy efficient, with strict no single-use plastic and zero emission policies. Instead, energy will be produced entirely from renewable resources.
The island will also have a number of entertainment options, so residents and visitors won’t want for anything while they bask in the 340 days of sunshine Blue Island Estate expects to receive each year.
But doesn’t its location in the Caribbean Sea make the island susceptible to natural weather phenomena like tidal waves and hurricanes?
Well, The Blue Estate Group has thought of that, too. The island will be built with “ultra-high performance concrete modules” and protected with almost 200-foot tall outside walls. It will also be equipped with hurricane shutters to shield it from high winds, and the ability to be “moved out of the way” if absolutely necessary.
With construction beginning as soon as 2022, some properties may be available for handover as early as the middle of 2023, though Schmidt says The Blue Estate Group “has plans to scale up if demand stays on the current level or increases.” Whether it’s because of the pandemic, or due to business restrictions in potential buyers’ home countries, the demand for privacy and exclusivity seems to be on the rise. With the creation of their luxe floating island on the Caribbean, the Blue Estate Group hopes to herald in a new era by meeting “the demand for isolated locations.” For the right price, of course.