Mario Carey.
NASSAU, BAHAMAS — Restrictive covenants imposed on vast chunks of undeveloped land decades ago are placing a chokehold on much-needed economic activity that could help The Bahamas pick up the slashed financial pieces left by the COVID pandemic and get back on track for true economic growth, said one of the country’s most successful businessmen.
Mario Carey, founder of Better Homes and Gardens MCR Bahamas, Mario Carey Realty and his most recent company, Mario Carey Ventures, said several newly proposed and long-pending projects on the drawing board are being hampered because of what he called “antiquated, outdated covenants” that prevent a wide range of uses for large parcels of property.