Posted by: Editor on Aug 07, 2007 – 12:26 PM
newsandinfo Andros Isle Development Limited, a wholly owned subsidiary of Andros Isle Development Corporation, is pleased to announce that it has signed a Definitive Purchase Agreement to acquire the Plantation Bay Resort project in Ferguson Point, Long Island, The Commonwealth of the Bahamas.
The project sits on a 27 acre tract of land in Ferguson Point, in northern Long Island. The property has 2,700 linear feet of Caribbean Beach frontage that will be the highlight of this exclusive, high-end resort community. Andros Isle Development Limited plans to offer 36 one-third acre lots with either canal frontage or ocean frontage starting at $500,000 U.S.D. per lot. In addition, Andros will offer 5 one-acre plus estate home sites each with at least 100 feet of beach frontage starting at $1.2MM U.S.D. per estate site.
Donald Harper, President and CEO of Andros Isle Development Corporation, stated: “We look forward to developing one the most distinctive, exclusive properties in the southern outer Islands. Our goal with Plantation Bay is to provide our residents with a truly spectacular vacation home experience.”
About Andros Isle Development Corp.
Andros Isle Development Corporation is a publicly traded real estate development company that specializes in the acquisition and development of luxury resorts in the Caribbean Basin, and in converting luxury hotels into Condo Hotels. The company’s principal objective is sustainable, long-term growth in earnings through the acquisition, development and re-sale of luxury resort properties.
Safe Harbor Statement:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and as such, may involve risks and uncertainties. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations, are generally identifiable by the use of words such as “believe,” “expect,” “intend,” “anticipate,” “estimate,” “project,” or similar expressions. These forward-looking statements relate to, among other things, expectations of the business environment in which the Company operates, projections of future performance, potential future performance, perceived opportunities in the market, and statements regarding the Company’s mission and vision.