• 1. Vatuvara Private Islands, Fiji - $155 million. Own not one, but four private islands in the Pacific Ocean including Vatuvara Island, Kaibu Island, Kanacea Island and Adavaci Island. Courtesy Vladi Private Islands
    1. Vatuvara Private Islands, Fiji - $155 million. Own not one, but four private islands in the Pacific Ocean including Vatuvara Island, Kaibu Island, Kanacea Island and Adavaci Island. Courtesy Vladi Private Islands
  • 2. Private Island Paradise, Thailand - $153.8 million. This 110-acre whale-shaped island is located off the east coast of Phuket and comes with white beaches, tropical forests and incredible views of the Andaman Sea. Courtesy James Edition
    2. Private Island Paradise, Thailand - $153.8 million. This 110-acre whale-shaped island is located off the east coast of Phuket and comes with white beaches, tropical forests and incredible views of the Andaman Sea. Courtesy James Edition
  • 3. Pumpkin Key, Florida, US - $95 million. Offering privacy without isolation, this 26-acre island in the Florida Keys is 10 minutes by helicopter to Miami's South Beach. It also comes with a three-bedroom mansion and its own marina. Courtesy Private Islands Online
    3. Pumpkin Key, Florida, US - $95 million. Offering privacy without isolation, this 26-acre island in the Florida Keys is 10 minutes by helicopter to Miami's South Beach. It also comes with a three-bedroom mansion and its own marina. Courtesy Private Islands Online
  • 4. Long Cay Private Island, Belize - $75 million. Some 20 kilometres off the coast of Placencia, one of Belize's most popular tourist destinations, this 40-acre island also has deep-water access perfect for mooring super yachts. Courtesy Engel & Volkers Belize
    4. Long Cay Private Island, Belize - $75 million. Some 20 kilometres off the coast of Placencia, one of Belize's most popular tourist destinations, this 40-acre island also has deep-water access perfect for mooring super yachts. Courtesy Engel & Volkers Belize
  • 5. Ifuru Resort, Raa Atol, Maldives - $65 million. A 168-acre island in the Indian Ocean that boasts a 150-villa resort, operational airport and a pristine virgin island. Courtesy Private Islands Online
    5. Ifuru Resort, Raa Atol, Maldives - $65 million. A 168-acre island in the Indian Ocean that boasts a 150-villa resort, operational airport and a pristine virgin island. Courtesy Private Islands Online
  • 6. Spectabilis Island, Bahamas - $62 million. This Exuma Cays island has 12 beaches, a heli-pad, seaplane ramp and space for a private air strip. It also comes with several celebrity and billionaire neighbours. Courtesy Private Islands Online
    6. Spectabilis Island, Bahamas - $62 million. This Exuma Cays island has 12 beaches, a heli-pad, seaplane ramp and space for a private air strip. It also comes with several celebrity and billionaire neighbours. Courtesy Private Islands Online
  • 7. Cave Cay, Bahamas - $60 million. This 220-acre private island in the heart of the Exuma Cays has a deep-water harbour, private marina and aircraft landing strip. Courtesy Private Islands Online
    7. Cave Cay, Bahamas - $60 million. This 220-acre private island in the heart of the Exuma Cays has a deep-water harbour, private marina and aircraft landing strip. Courtesy Private Islands Online
  • 8. Water Cay Private Island, Turks and Caicos - $49 million. The most accessible cay in the Turks and Caicos, Water Cay is a 432-acre island complete with more than 200 metres of uninterrupted beach and water frontage. Courtesy Sotheby's International Realty Affiliates LLC
    8. Water Cay Private Island, Turks and Caicos - $49 million. The most accessible cay in the Turks and Caicos, Water Cay is a 432-acre island complete with more than 200 metres of uninterrupted beach and water frontage. Courtesy Sotheby's International Realty Affiliates LLC
  • 9. Motu Tane, French Polynesia - $39 million. Ten minutes from Bora Bora, this island spans 10 acres of beaches, tropical foliage and coconut groves surrounded by the South Pacific. It's also home to 22 traditional thatched Polynesian cottages. Courtesy Private Islands Online
    9. Motu Tane, French Polynesia - $39 million. Ten minutes from Bora Bora, this island spans 10 acres of beaches, tropical foliage and coconut groves surrounded by the South Pacific. It's also home to 22 traditional thatched Polynesian cottages. Courtesy Private Islands Online
  • 10. Pakatoa Island, New Zealand - $35.9 million. A rare find, this secluded island in Haruaki has been on and off the market for years, but now has a reduced price. Just 15 minutes by helicopter from Auckland, it has three private beaches, resort facilities and a nine-hole golf course. Courtesy Vladi Private Islands
    10. Pakatoa Island, New Zealand - $35.9 million. A rare find, this secluded island in Haruaki has been on and off the market for years, but now has a reduced price. Just 15 minutes by helicopter from Auckland, it has three private beaches, resort facilities and a nine-hole golf course. Courtesy Vladi Private Islands

Travel

Destinations

10 of the most expensive private islands for sale right now

From one of the largest isles in the Bahamas to an atoll in the Maldives, these are the priciest private islands currently on the market

Hayley Skirka
Hayley Skirka

May 06, 2021

  • English
  • Arabic

With social distancing now the norm, holidaying on a private island could be one safe solution for those keen to get away.

For anyone with more than a bit of spare change in the bank, buying a private island would guarantee year-round holidays and sunshine served in stunning isolation.

One of the largest islands in the Bahamas has become the latest secluded paradise to hit the market and become top contender for a safe holiday hotspot for the world's elite.

Little Ragged Island, also known as St Andrew's, is one of the biggest private islands currently for sale in the Caribbean.

Little Ragged Island is billed as a developer's dream with space to build a luxury retreat, private accommodation and an 18-hole golf course with land leftover. Courtesy Concierge Auctions
Little Ragged Island is billed as a developer's dream with space to build a luxury retreat, private accommodation and an 18-hole golf course with land leftover. Courtesy Concierge Auctions

Located about 220 kilometres north of Cuba and 600km south-east of Miami, the island spans 295 hectares and is home to rolling hills and endless stretches of beaches, all surrounded by the blue waters of the Atlantic Ocean.

Listed for $19.5 million, with no reserve price, the island is going under the hammer on March 26.

Bidders will need a $100,000 deposit to take part in the auction, which will result in a new owner of the southernmost island of the Caribbean's Ragged Island Chain.

Billed by Concierge Auctions as "a perfect blank canvas" for developers, the island has plenty of space to build a luxury resort, an 18-hole golf course, residential properties and still have land leftover.

With kilometres of beaches, freshwater ponds and forested hills, St Andrew's also comes with access to prime snorkelling and sailing grounds. On its eastern side, it also has deep water access, making it easy for yachts, superyachts and large ships to dock. And getting to the island by air is easy, too, as it's just a 10-minute boat ride away from the nearest private airstrip.

From the Maldives to the South Pacific: the world's most expensive private islands

If the Bahamas isn't your dream destination, but escaping the pandemic to a private island paradise still appeals, there are plenty of other secluded retreats up for grabs.

With asking prices up to an eye-watering $155m, here are 10 of the world's most expensive private islands for sale today.

  1. Vatuvara Private Islands, Fiji – $155m
  2. Private Island Paradise, Thailand – $153.8m
  3. Pumpkin Key, Florida, United States – $95m
  4. Long Caye private island, Belize – $75m
  5. Ifuru Resort, Raa Atoll, Maldives – $65m
  6. Spectabilis Island, Bahamas – $62m
  7. Cave Cay, Bahamas – $60m
  8. Water Cay Private Island, Turks and Caicos – $49m
  9. Motu Tane, French Polynesia – $39m
  10. Pakatoa Island, New Zealand – $35.9m

Click through the gallery above to find out more about each private island.

Whether you fancy your own islet in the Maldives, are craving an 44.5ha retreat off the coast of Thailand or want to unwind in French Polynesian waters, if you have the capital then the world's island real estate market likely has the perfect spot for you.

And for the rest of us, there's nothing like a spot of island-induced daydreaming or paradise musing to get you through another week at home.

Whiile you're here
UK-EU trade at a glance

EU fishing vessels guaranteed access to UK waters for 12 years

Co-operation on security initiatives and procurement of defence products

Youth experience scheme to work, study or volunteer in UK and EU countries

Smoother border management with use of e-gates

Cutting red tape on import and export of food

Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

House-hunting

Top 10 locations for inquiries from US house hunters, according to Rightmove

  1. Edinburgh, Scotland 
  2. Westminster, London 
  3. Camden, London 
  4. Glasgow, Scotland 
  5. Islington, London 
  6. Kensington and Chelsea, London 
  7. Highlands, Scotland 
  8. Argyll and Bute, Scotland 
  9. Fife, Scotland 
  10. Tower Hamlets, London 

 

What are NFTs?

Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.

You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”

However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.

This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”

This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
Tomorrow 2021
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DestinationsBahamas