Turks & Caicos Islands Real Estate Summer/Fall 2023

Tail is a natural habitat where flamingos can occasionally
be found. On offer are 3- and 4-bedroom Lakehouses
and 2-bedroom, cabin-like Lakelodges, all ranging in size
from nearly 5,000 to 2,750 square feet; prices are $2 to $3
million.
Brand-new to the market is The Strand, a private
residential resort community with dramatic vistas overlooking
Cooper Jack Bay. Currently under construction,
The Strand offers architecturally distinctive custom
oceanfront residences, all with access to a collection of
amenities for active spirits. This includes a marina, beach
club, restaurants, and bars, watersports, racquet sports,
and an “artist in residence” program. Villas include a two
bedroom (with a rooftop terrace) to larger Luxury and
Grand Residences, ranging in price from $2.5 to 10.5
million.
Offering pre-construction prices on a beachfront site
long vacant is The Andaz Residences at Grace Bay, a new
boutique hotel with residential offerings. It will include
59 hotel rooms and 74 for-sale residences ranging from
studio suites to one-, two-, and three-bedroom suites and
penthouses. Combining a stunning beachfront location
with the amenities and services of a luxury hotel in the
comfort of home, pre-sales are quickly moving forward.
Blue Marine Villas is a residential development on
Turtle Cove Canal, offering eight 6-bedroom villas on
0.25 acre each with dock space on the canal. Now in
pre-construction sales, the villas feature signature architecture,
infinity pools, expansive decks, indoor/outdoor
living areas, and full-height glass sliding doors. Prices start
at $3.8 million.
Upper East Side Villas, a new gated development in
Leeward, is moving into Phase 2. These modern villas
offer four bedrooms and three bathrooms, with a private
swimming pool and high end furnishings, with price
points below $1.75 million. Due to its proximity to Grace
Bay, the beach, shops, restaurants, nightlife, grocery store,
school, and marina, it’s the ideal spot for a vacation rental
or personal residence.
Now in pre-construction sales is The Summit.
Spread over 10 acres, each Summit “Curve” villa is meticulously
sited and designed to provide panoramic views of
Providenciales’ North Shore lagoon and majestic barrier
reef. Featuring clean lines, high ceilings, full-height glass
sliding doors and windows, gourmet kitchens, oceanview
bedroom suites, infinity-edge pools, and elegant terraces
and decks, the 3- to 5-bedroom villas are designed with
energy efficiency and hurricane preparedness in mind.
Prices range from $3 million to $3.9 million.
At the Ritz-Carlton Residences on a prime beachfront
location on Grace Bay, available are a number of 2
and 3 bedroom beachfront suites and penthouses ranging
in size from 2,221 to 6,540 square feet. Sold fully furnished
and with privileged access to a concierge, valet
parking, and VIP status, residents also partake in the spa,
fitness center, beach restaurants, shopping, casino, and
kids’ programs. Prices range from $2.1 to $8.9 million.
The market for properties in the family islands has
grown enormously as their isolation and lack of amenities
translate to an oasis of tranquility and safety. Sailrock
is an ever-evolving development on the country’s fishing
capital of South Caicos. Here, natural beauty and serenity
rule on an island relatively untouched by development.
Sailrock includes 33 suites and villas spread over 52 hilltop
and oceanfront acres. Residences are supported by the
Great House, a central hub housing a lounge, oceanview
deck and upscale restaurant and bar. A number of villas,
suites and lots are available for sale, ranging in price from
$410,000 to $11.4 million.
The Turks & Caicos Islands Government, led by
Premier Washington Misick, continues to pledge to support
development and investors. In his February 27, 2023
State of the State address, he commented, “New investments
in the tourism industry are at an all-time high and
investors are showing interest in all islands.” He noted
that a National Delivery Unit has been established to
ensure the efficient delivery of priority projects. “Every
project, every piece of legislation, and every dollar spent
must be guided by sound policy, delivered on time, within
budget and of maximum benefit to our people.”
TCIG has also established TCI Finance—a sister
entity to Invest TCI. Its focus is to attract global financial
services, converting the Turks & Caicos to a preferred
FinTech destination. FinTech (financial technology) is a
catch-all term referring to software, mobile applications,
and other technologies created to improve and automate
traditional forms of finance for businesses and consumers
alike.
Also of note is the increasing number of companies
able to help current and budding property owners switch
to solar power. In Providenciales, the average cost of electricity
is 50 cents per kilowatt compared to solar, which
is around 20 cents. Solar panel installations harness the
power of the sun to generate clean and renewable energy
which will help protect the TCI’s “Beautiful by Nature”
environment by reducing dependence on fossil fuels. In
TCI, experts can design and install a solar panel system
that is tailored to energy needs and budget. v
32 Turks & Caicos Islands Real Estate – The Official Magazine of the Turks & Caicos Real Estate Association