Barbados is on the brink of experiencing its most significant luxury building boom in 14 years, with real estate leaders predicting labor and material shortages. While construction costs are expected to rise, the demand for high-end properties among the super-rich remains unwavering, reaching record prices, according to top realtors interviewed by Barbados TODAY. A leading agent highlighted the...
In the latest Global Economic Prospects Report, the World Bank anticipates a steady recovery in the Caribbean and Latin America, projecting an overall economic growth of 2.3% and 2.5% for the region this year and the next. Despite a dimmed outlook for developing economies due to slowing growth and trade challenges, Barbados stands out with an optimistic forecast of 4.6% growth in 2024. The report...
The International Finance Corporation (IFC) and the Barbados government have signed a contract to support the development and functioning of Barbados' first large-scale onshore wind farm. This landmark agreement ensures the necessary assistance for the construction and operation of the renewable energy project. By combining resources, the IFC and the government of Barbados aim to promote sustainable...
Barbados is currently playing host to a delegation of twenty-one representatives from Scotland and the United Kingdom (UK), who are on a mission to explore potential business and investment opportunities on the island. This initiative, known as the Trade and Investment Mission – Scotland to Barbados 2023, spans five days and brings together delegates from diverse sectors, providing a platform for...
After more than two decades of anticipation and a shift in investors, the ambitious Pierhead Development Project in the City has received the official nod for construction, marking a significant milestone in its more than 20-year journey. The Pierhead Development Project is poised to breathe new life into Bridgetown, ushering in fresh opportunities for small entrepreneurs, bolstering the local economy,...
In the next 12 to 24 months, Barbados could witness a significant construction boom, potentially leading to the importation of labor, according to James Edghill, co-founder of construction development firm One Builders. Edghill based his forecast on several planned projects, a low unemployment rate, and sustained economic growth in the country. Edghill emphasized the need for creativity in addressing...
JetBlue and CIBC FirstCaribbean have teamed up in collaboration with Mastercard, a global leader in the payments industry, to introduce a pair of new credit cards tailored for customers in five Caribbean countries where JetBlue operates. These innovative offerings, the JetBlue Mastercard and JetBlue Select Mastercard by CIBC FirstCaribbean, are designed to deliver a host of exclusive rewards, benefits,...
CIBC FirstCaribbean International Bank Limited is set to undergo a significant transformation as it rebrands its operations to align with its parent company, CIBC. In an announcement made by Chief Executive Officer Mark St Hill on Tuesday morning, the rebranding process is slated to be completed during the upcoming financial year. St Hill emphasized that the decision to adopt the CIBC brand underscores...
Barbados is preparing to host a brand-new addition to its hospitality landscape in the form of a Hotel Indigo. This 132-room establishment is on track for completion and grand opening during the final quarter of 2024. Aptly named "Indigo Barbados," this project falls under the management of the Polcom Group, a trusted provider of premium modular building systems and interiors spanning various asset...
Investing in an apartment block in Barbados offers an enticing opportunity for those seeking to diversify their investment portfolio in a tropical paradise. With a stable economy, a strong tourism sector, favorable tax benefits, and beautiful surroundings, it's a destination that can provide both rental income and long-term capital appreciation View Apartment Blocks for Sale in...