There have been rumours all year that the iconic Bermuda club, Coral Beach, was on the market. It’s now been confirmed that the property will be redeveloped by a US-based private equity firm as a prestige hotel with “150 rooms and residences”.
Ah, yes, residences again.
At the same time, in an obvious election ploy, the Department of Ewartourism has just released a long list of potential developments on the island. Virtually every one has residential developments at its core. This about real estate not tourism.
Real estate as in more properties to be sold to foreigners, gated communities for the rich, presumably to be developed with tax discounts from the Bermuda Government?
While the same Government discriminates against Bermudians who are married to non-Bermudians in trying to buy a family home. It just doesn’t make sense.
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