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Sir Franklyn defends $49m Jack's Bay goal

Near-$120m real estate sales to fund build-out
Argues that projections very conservative
By NEIL HARTNELL
nhartnell@tribunemedia.net
Sir Franklyn Wilson is defending as very conservative projections that the Jack s Bay project will hit up to $48.9m in annual real estate sales by 2023, adding: We re not selling this like Fried Fish.
The Eleuthera mixed-use resort community s chairman voiced confidence it will shrug off the COVID-19 pandemic and strike its targets because it is seeking price points lower than what exists at rival developments such as Albany and Baker s Bay.
Speaking out after Tribune Business obtained forecasts showing Jack s Bay is targeting some $119.652m in real estate sales over its next three financial years to 2023, Sir Franklyn said this would largely be generated from seven-figure purchases by the 40 so-called founder investors the project is seeking to give it critical mass. ....

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Developer's offering to 'regain momentum'

nhartnell@tribunemedia.net
A Bahamian resort community yesterday said it would use the proceeds of a newly-launched preference share offering to regain momentum lost to the COVID-19 pandemic.
Sir Franklyn Wilson, chairman of Jack’s Bay Developers, told Tribune Business there was no set closing date or target amount that the Eleuthera-based project was seeking to raise from investors via an offering priced at 6.25 percent and with a minimum $50,000 investment.
We re doing whatever we can to accelerate the pace of development, he told this newspaper. We re in a position where today, as soon as this COVID-19 pandemic thing is behind us, we can do what we want to do. The more funding we can raise, the more we can do in the interim. We re using the down time to make the place better to come to. ....

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