The Minister of the Environment and Housing, Hon. Kenred Dorsett and Mr. Franon Wilson, President of the Bahamas Real Estate Association (BREA) signed a Memorandum of Understanding (MOU) this morning solidifying relations between BREA and the government of the Bahamas. Minister Dorsett said that there were four main tenets of the MOU the primary of which was, “the need to focus on affordable housing.” He said that, “we want to make sure that there is a collaborative effort between the government and the real estate sector through BREA to have a conversation about how we can continue to provide affordable housing for Bahamians.”

The Minister said that BREA would also assist this government in providing building plots and in promoting available land for sale in the Family Islands. Dorsett further stated that BREA had also “agreed to collaborate with the government for a national conclave specifically focused on the interests of the real estate sector.” This conclave would provide the opportunity for stakeholders within the real estate sector to submit their commentary, suggestions and recommendations on government policy and legislation that effects the sector which the Minister hopes will provide a “true road map to where we see the real estate sector going for us in The Bahamas.”

The last tenant of the MOU speaks to BREA assisting the government in “identifying suitable building locations and facilities to meet the government's operational needs,” as the government looks to ensure that most of its unoccupied buildings become occupied to aid in the preclusion of the significant amounts paid in rent.

Speaking on behalf of BREA, President Franon Wilson stated that though he was signing the MOU his fourteen member board was in full support of the new initiative. He stated that his association sees the signing as a wonderful opportunity and that it is the first step to much greater things in building a sustainable Bahamas, one where we all can support. Mr. Wilson also gave examples of the areas in which BREA can provide support to the government stating that there are members on every island who can give feedback on the development of each island.

Minister Dorsett expressed his happiness that Mr. Wilson and BREA welcomed the opportunity to work along with the Ministry of the Environment and Housing and stated that “a government serving it's citizens must include agencies and organizations who have broad membership in developing a true participatory democracy.