(CNN) – Packing and moving to an exotic island is an old dream for many travelers, but it looks like the outlook is becoming even more attractive due to the global pandemic.
And judging by the response to this next luxury floating real estate project that will launch near the Bahamas in 2025, the interest in moving to a safe haven in the middle of the sea is still high.
Located 25 minutes by plane from Nassau, the capital of the Bahamas, and just under 90 minutes from Miami, the island will measure 4,921 feet by 3,280 feet (1,500 meters by 1,000 meters), an area half the size of Monaco, and can accommodate up to 15,000 permanent residents.
Floating city
A representation of the Blue Estate island, which is due to be launched near Miami in 2025.
Courtesy The Blue Estate Group
Those who acquire a place in the “most exclusive private residence in the world” will have more than 340 days of sunshine a year, thanks to the island’s privileged location, according to the developers.
“At first, we were concerned that the current pandemic could have a negative impact on the project,” Erik Schmidt, director of communications for the Blue Estate Group, told CNN Travel.
“But fortunately, it was different. Some districts are almost completely sold out and the sales team is doing its best to answer requests and questions.”
The properties on offer range from $ 19,800 indoor apartments measuring 20 square meters, $ 194,400 apartments with a balcony, a $ 54 million five-bedroom garden villa and two “exclusive owned” mega mansions, each with an estimated price of $ 1.15 billion.
The wealthy enough to pay the latter will have to come up with an “innovative architectural concept” before they are approved to buy the mansion, and Schmidt confirms that an order has already been submitted.
The island, which is built with “extremely high-performance concrete modules”, will have its own state-of-the-art health clinic, as well as an international school that can serve children “aged up to graduates”.
‘Everyone is welcome’
Residents are likely to get more than 340 days of sunshine a year, thanks to the island’s privileged location.
Courtesy The Blue Estate Group
“There are no special requirements to become a resident at Blue Estate,” explains Schmidt.
“Everyone is welcome to buy, own or rent a property and / or open a business at Blue Estate.”
Residents who work here can apply for a series of commercial licenses, valid for a period of 12 months, but will not be subject to taxes.
“The increase in remote job opportunities in the past decade (not just due to the pandemic) allows more people to freely choose a ‘home base’ that best meets their individual needs,” he explains, before indicating that the resident’s average age it is likely to be “significantly inferior” to it than most other cities.
“Young entrepreneurs can focus on their start-up businesses and don’t have to face paperwork and pay high taxes.”
Green community
The developers are planning to use renewable sources on the island, so it has a negative CO2 emission.
Courtesy The Blue Estate Group
Blue Estate will also house several ocean clubs, lagoon pools, playgrounds, markets, restaurants, bars and shopping areas, so residents are likely to have plenty to keep them entertained.
While it is difficult to assess how much the global pandemic may have contributed to buyers’ decision to buy a property on Blue Estate, Schmidt says many have expressed concern about “personal or commercial restrictions” in their home countries.
Although the majority of buyers are from the United States, some properties were purchased by residents of Canada and also Europe and China.
“Dissatisfaction has always been and will continue to be a determining factor for change,” adds Schmidt.
There is also no visa requirement for buyers, residents “can stay as long as they want at the Blue Estate,” according to Schmidt.
However, all arrivals are subject to airport-type security checks.
Although construction does not begin until next year and the island is not fully completed for another four years, some of the properties may be ready for delivery in mid-2023.
To achieve its goal of being one of the “greenest communities in the world”, all the energy on the island will be generated from renewable sources, and will operate with a policy of non-single use of plastic and zero emission.
The Blue Estate is also open to non-residents, however, visitors must apply for a license / visa prior to their trip, as only a specific number of visitors will be allowed on the island at this time. There will be two hotels on the island to accommodate visitors.
Mobile Island
The construction of Blue Estate has not yet started, but buyers are already bidding on offers.
Courtesy The Blue Estate Group
Although its position in the Caribbean Sea means that strong currents may become a concern, the island is protected by outer walls measuring more than 160 feet that will “slow the biggest waves in the ocean,” according to the Blue Estate Group.
It will also have automatic hurricane shutters that can be extended to provide the community with additional protection from strong winds.
At worst, the entire island can be “moved out of the way” from any storms due to its high-tech features.
Although Blue Estate appears to be the first floating real estate development that allows buyers to acquire their properties, Schmidt believes that similar projects will begin to emerge in the future, mainly due to the demand for isolated locations, which was caused by the pandemic.
“Our engineers have been working on the project since 2016, which gives us a little bit of an advantage,” he says. “Even so, we already have plans to scale up if demand remains at the current level or increases.”
Work on the ambitious project, which will consist largely of hotel establishments and second homes, began in 2003 and is scheduled to be completed in 2023.