One of Barbados most well-known realtors and property developers is contending that the next step of development for this highly competitive sector in Barbados is a redevelopment theme and this will offer new and exciting possibilities.
Paul Altman, Managing Director of Altman Real Estate Ltd asserts that given how the island’s real estate has developed over the last 20 years, the next step that presents the best opportunities for growth in the sector will come with redevelopment themes.
According to Altman who is now into developing his latest project, Limgrove on the island’s exclusive west coast, recognising the success of these themed developments and being aware of few new green field opportunities, one option currently presents itself as the best new way to expand both tourism and local development. The next wave must encompass a redevelopment theme and this will offer new and exciting possibilities.
Interestingly he pinpoints the areas which he believes are best suited for such development. He says, “The most likely areas to attract redevelopment are those linked to urban mixed-use opportunities. The time is ripe for Bridgetown, Speightstown, Holetown and Oistins to blossom.”
The real estate boss, notes that all the areas share one important common attraction – they are all waterfront. They also incorporate the greatest measures of Barbadian culture and historic architecture.
Furthermore he admits that of course, if lifestyle is factored into these towns, then numerous existing features promote the adage: “If you lived here you would be home now”. This would allow persons to “live”, “work” and “play” on location. Taking this to its ultimate level, under the heading of sustainability, it stands to reason that new development in Barbados must follow the route of so many other countries – “Urbanisation”.
