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Airport groundbreaking a “major milestone”

Wednesday, July 28th, 2010

Wednesday, Jul 28, 2010

WORK is officially underway on an immense $70m expansion and renovation project at Providenciales International Airport.
Over the coming months the runway and terminal will be completely transformed to accommodate larger aircraft, more frequent flights and more visitors.
Dubbed “a major milestone” for the country, the self-financed venture is expected to assist the Turks and Caicos Islands on its way to economic recovery.
On Monday morning all of the project’s major supporters gathered at the site of the runway extension to witness the historic groundbreaking ceremony.
John Smith, chief executive officer of the Turks and Caicos Islands Airport Authority (TCIAA), took to the podium to tell a packed tent full of attendees about the project.
He explained that during the first phase Canadian-based company Dexter Construction will carry out a lengthening of the runway.
During phase two, which has yet to be released to tender, a selected company will expand the terminal building.
Once the entire project is complete the airport will be able to accommodate more frequent flights to and from North America, Mr Smith said, as well as larger aircraft from as far afield as Europe and Asia.
Mark Capes, acting governor and public service CEO, said he was delighted to see the first stage of the project underway.
“The construction of the new runway is an important step towards creating a modern, safe and efficient international gateway that will enhance the appeal and competitiveness of the TCI.
“It will inject several million dollars directly into the economy, safeguarding many local jobs during this difficult period of economic recession that confronts the region.”
Mr Capes said that the TC Government has worked in close partnership with the TCIAA to secure the necessary funding and approvals needed for this “critical” project.
He added that the award of the contract to Dexter Construction is an example of the government’s commitment to follow internationally recognised standards in investment appraisal and public procurement.
The company has vowed to establish a scholarship programme for a number of Belongers working on this project, who will have the opportunity to study at training facilities in Canada.
“This will help to bring-on young local talent and build a skilled indigenous workforce, ready to contribute to the future of this country,” Mr Capes said.
Locally-based Cove Construction and CBMS have also been chosen as major sub-contractors in the extensive runway works.
Mr Capes continued: “Many challenges still lie ahead as we work to stabilise our fiscal position and economy.
“The road to recovery here, as elsewhere, will be testing. But I have no doubt that this project will play a key part in securing that recovery over the longer term.”
Caesar Campbell, CEO of the Turks and Caicos Hotel and Tourism Authority, said the project would make life easier for visitors and residents arriving at Providenciales Airport.
“Congestion is a major challenge for us particularly on the weekends and we have to fix this – we’ve been getting complaints left, right and centre from our visitors and residents.
“So it’s a welcome move on the part of the government and we look forward to working with Airport Authority.”
FirstCaribbean and Barclays Capital have partnered to provide up to $70m for the redevelopment and expansion project.
FirstCaribbean corporate director Peter Horton, who was present at the ceremony, said he was proud to be part of the “momentous” occasion.
“We would like to thank the Turks and Caicos Airport Authority for the confidence they have placed in us.
“We are pleased to have been chosen as your financial partner in helping facilitate this milestone and we look forward to working with you to ensure its successful conclusion.”
An airport redevelopment charge of $20 which is paid by every passenger that passes through Providenciales International Airport will fund the loan repayments.
Following the speeches Mr Capes joined Herbert Ingham, chairman of the TCIAA, in breaking ground at the site of the runway extension.

By Rebecca Bird
Turks & Caicos Weekly News

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Long Bay Beachfront – 1 Acre Lot – $695,000

Thursday, June 17th, 2010

Long Bay Beachfront – priced to sell!!

“Excellent investment beachfront parcel with double frontage of 270’, almost twice the standard frontage in this area. In vicinity of future high-end resort, the Shore Club”.

Contact:
Nina Siegenthaler-Borges
t 649-946-4474 c 649-231-0707
nina@tcsothebysrealty.com
Providenciales, Turks & Caiocs Islands

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Introducing Villa Turquesa

Thursday, June 10th, 2010

A fusion of luxury and casual living define this rare tranquil residential estate nestled within the coveted Ocean Point Drive Community on Sapodilla Bay. Elevated above the emblazoned turquoise waters the Colonial Barbadian architecture has left no details overlooked. From the inviting balconies and terraces to the masterfully framed private infinity pool, this 3560 sq. ft. 4 bed, 4.5 bath home is replete with classic detailing and master craftsmanship. The classic design of this prime estate affords breathtaking views from every room. The upper floor master suite is complete with custom trayed tongue and grove ceilings, fine furnishings and wood floors. The large airy living and dining spaces with beamed vaulted ceilings are capable of hosting formal occasions, but are just as enjoyable for intimate family living. Among the interior highlights are the state of the art professional grade kitchen with modern amenities, complimented with custom hand crafted trim cabinetry and doors, finished with meticulous detail from the grand era of days gone by. The gentle white washed Barbadian Coral Stone exterior, Carriage car park and storage space blends artfully with magnificently landscaped grounds, all flowing together, defining a Caribbean residential masterpiece.

Mark Mills
Sales Associate
Turks & Caicos Sotheby’s International Realty
t 649-946-4474 c 649-242-0551

View Villa Turquesa

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Five Turtles Villa – Outstanding Value

Tuesday, May 18th, 2010

Five Turtles Villa - Outstanding Value – Priced at $2,500,000

There is a certain sumptuous Caribbean ambiance bordering on a Mediterranean flair which defines Five Turtles above all others. You will be able to savour and determine how this has been achieved when you view this beautiful, single storey beach villa. Five Turtles enjoys a flowing design for comfort, ease and sheer elegance. The lush private entrance accented by a peaceful waterfall immediately sets the scene for what is to come. Built in 2003 of block and poured concrete, cedar shingle roof, 3,000 sq ft, AC in all bedrooms, large swimming pool enhanced with 5 decorative turtle motifs, large entertainment and sunbathing patio (with shaded area), cable TV, internet access, tennis courts, fully furnished and beautifully landscaped. Set within 0.5 acres with ocean and beach views it is ideally located to soak in the mesmerizing sunsets, and the tranquil, clear, turquoise waters of Sunset Bay. Come sooth your soul at Five Turtles.

Contact: Karen Biker, Turks & Caiocs Sotheby’s International Realty, 649-231-0217

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Turks & Caicos Islands Relaxes Immigration Requirements for Long-Stay Tourists

Monday, May 10th, 2010

MINISTRY OF BORDER CONTROL & LABOUR
GRAND TURK, TURKS & CAICOS ISLANDS, BRITISH WEST INDIES
TELEPHONE: (649) 946-2801/Ext 40710 FAX: (649) 946-2885
TCI relaxes immigration requirements to encourage business and long-stay tourists
Leave to enter and remain for bona fide visitors tripled to 90 days

TCI is more open than ever for business and investment: That’s the message the Ministry of Border Control sent today as it announced the tripling from 30 to 90 days of the maximum period businessmen, tourists and other genuine visitors without seeking an extension of stay.

The rules, promulgated in guidance to ministry staff today, were made in an amendment to the Immigration Ordinance on January 16, 2009 which says that, instead of 30 days, Immigration Officers granting entry to a visitor should normally give leave to enter and remain for a period not exceeding 90 days. Effective May 1, 2010, the amendment allows Immigration Officers to grant leave of less than 90 days in cases where there is doubt as to the visitors’ intentions but it is expected that this provision would only be used sparingly. Importantly too, strict measures would still be in place to deal with any abuse.

On making the announcement, Clara Gardiner, Permanent Secretary at the Ministry of Border Control and Labour said: “As we look to bring on economic recovery, it’s key that we make it clear that TCI welcomes genuine visitors and investors to the islands. Our new 90-day policy is intended to reflect that.

“Take for example a retired couple from abroad who own property in the TCI and wish to visit for a long vacation, or the investor supervising the setting up a new business. There’s no reason we should be making them hurry home or seek multiple extensions. Such visitors are not competing in the local job market, nor do they place a burden on public services. But they do contribute significantly to the local economy and give generously to local charities and community events. People like these should be welcomed to these shores: TCI should be encouraging them to plan for an extended hassle-free stay.”

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Villa Renaissance – Suite 103 – Price to Sell at $695,000

Monday, May 10th, 2010

Villa Renaissance – Suite 103 – Price to Sell at $695,000

The powdery white sand is soft with every step…the crystal turquoise ocean is the only backdrop to this magnificent encounter….Villa Renaissance. Not just a hotel or resort, but Providenciales only Grand Villa Retreat. Welcome to Turks and Caicos’ beachfront sensation!

Experience tranquility and the pure beauty of Grace Bay beach in this beach level suite. The classical two bedroom floorplan (1,582 sq. ft.) feels like a home directly on the beach with wonderful ocean views and lush landscaping surrounding the Juliet Balcony. Outdoor and indoor living areas are integrated with disappearing pocket sliding doors. This suite offers all the comforts of fine Island living to its owners and posts a successful track record in the property`s rental program.

Link to Property: Villa Renaissance – Suite 103

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Grace Bay Club Villa B203 – Reduced to $1,050,000 – Priced to Sell!!

Monday, May 10th, 2010

Grace Bay Club Villa B203 – Reduced to $1,050,000 – Priced to Sell!!

The Villas are far from just another beachfront condominium project. This is ownership completely integrated into the Grace Bay Club, providing owners with full use of all five-star amenities and services as well as the benefit of international management expertise. Ownership in the Villas provides residents with the ultimate in beachfront living within an established and award-winning resort.

The property boasts multiple oceanfront fine and casual dining venues, Anani Spa, fitness, business center, and adult and family friendly pools. An affiliate of Leading Small Hotels of the World and American Express Fine Hotels & Resorts, Grace Bay Club is known for excellent service, luxury accommodations, solid room rates, steady occupancy, and easy access from major cities in North America. This gives owners peace of mind that, not only will their residences be managed well when they are not using them, but will also have strong potential for revenue, and have excellent track record in the resort’s successful rental program.

These sought after residences split up into two separate beachfront units including a lockout “Junior Suite” ideal for optimum rental income. Designer furnishings make this a unique offering as owners can enjoy Grace Bay Club’s renowned services and amenities combined with the privacy of a beachfront home.

Link to this property: Grace Bay Villa B203

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The Government of Turks & Caicos Announces Reduced Stamp Duty

Monday, April 26th, 2010

The Government of Turks & Caicos Announces Reduced Stamp Duty
April 26, 2010

The new fees apply to all islands except North Caicos, Middle Caicos, East Caicos, South Caicos, Grand Turk and Salt Cay, which are 50 percent of the following rates:

Less than $25,000—no duty.
$25,000-500,000 — 4%
3.6% — one payment
1% — four payments

$500,000-1.5 million — 6%
5.4% — one payment
1.5% — four payments

$1.5-3 million — 8%
7.2% — one payment
2% — four payments

More than $3 million —10%
9% — one payment
2.5% — four payments

“The new stamp duty schedule is welcome news to the real estate industry and for the TCI economy. The combination of significantly lower rates at all but the uppermost tier, and the ability to pay the stamp duty either up front at a 10% discount, or over 4 years at the full rate, will provide much needed stimulus for buyers in the short, mid and long term. It reflects forward thinking on part of the TCI government, and is the result of effective communication amongst the Turks and Real Estate Association, The Council of Business Associations and the TCI Government”.

Joe Zahm
President / Broker
Turks & Caicos Sotheby’s International Realty

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A VIBRANT SEASON

Tuesday, February 23rd, 2010

This winter season has brought vital new energy to the market place.

Hotels, restaurants and airlines are busy, busy and realtors are busier than at any time in the past two years, with lots of sales activity, contracts and scheduled closings.

This renewed activity, in my view, is a result of better buyer confidence, increased tourism business in TCI, and attractive price points.

We are seeing most of our traffic in the $500,000 to $1M range but are now setting markers at 1.5M and beyond as luxury buyers creep back into the market.

A few years ago, I remember driving down the street, and exclaiming to my partner that “TCI is an unstoppable force”. 2009 was a real confidence – shaker, but now that we are well into 2010, I clearly see a better dynamic and psychology, and feel once again that, Turks & Caicos is indeed an unstoppable force that will now re-commence growth at a healthier sustainable pace.

Joe Zahm
President / Broker
Turks & Caicos Sotheby’s International Realty

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GRACE BAY RESORTS SETS NEW FULLY-INCLUSIVE STANDARD IN TURKS AND CAICOS WITH OPENING OF THE VERANDA RESORT ON PROVIDENCIALES

Tuesday, February 2nd, 2010

February 2010

Five Star Fully-Inclusive Resort Features Inspired Caribbean Décor, Two Oceanfront Restaurants and the Only Private Beachfront Cottages in Turks and Caicos

(Providenciales, Turks & Caicos) – Grace Bay Resorts, the company behind the celebrated Grace Bay Club (www.gracebayclub.com) in Turks and Caicos, has once again raised the bar among distinctive resorts in the region with the opening of The Veranda Resort (www.verandatci.com) in Providenciales on February 1, 2010. The five star fully-inclusive 123-room residence-style resort features oversized home-like accommodation in addition to eight private oceanfront cottages, two beachfront dining experiences, unprecedented services and amenities, three separate private pools with one reserved for adults only and breathtaking views of Grace Bay beach at every turn.

“There is a growing demand for value-added product in the luxury marketplace today and we feel The Veranda’s five star fully-inclusive program fills a much needed niche within the luxury sector of Turks and Caicos,” says Nikheel Advani, Chief Operating Officer of Grace Bay Resorts. “We have gathered some of the finest hospitality talent to ensure this property is operated at a five star level. Once a guest steps foot on this property they will recognize the familiar fingerprint of our impeccable service and personalized standards that have come to define the Grace Bay Resorts experience.”

The Veranda is being managed by Grace Bay Resorts, the 15-year old luxury hospitality brand. All 123-units including the eight beachfront cottages are available for private purchase with Turks & Caicos Sotheby’s International Realty. Prices range from USD$335,000 to USD$2,950,000.

“Representing an investment of over $80 million, The Veranda Resort is one of very few new resorts to open in the Caribbean this year,” says Mark Durliat, CEO of Grace Bay Resorts. “The successful completion of this project is further proof that the Turks & Caicos, despite the global economic turndown, remains an attractive destination for foreign investment in the leisure sector.”

FULLY-INCLUSIVE DEFINED
The Veranda Resort’s fully-inclusive concept is redefining the five star travel experience for the new value-conscious traveler seeking a boutique luxury resort experience with all expenses determined upfront. Rates at The Veranda are structured on a per night/per person basis and include all meals, premium beverages, on-site children’s programs and non-motorized water sports. A la carte dining is available at all on-site restaurants in addition to the Bar at Marin and Sky Lounge serving a selection of premium alcohol from Grey Goose vodka to the elite Kim Crawford Pinot Noir from New Zealand. In addition to the aforementioned amenities, guests of The Veranda enjoy added services including concierge and in certain suite categories personal butler service, in-room chef, dining service, pre-arrival provisioning of groceries, shopping and delivery throughout stay, childcare services and daily housekeeping including dry-cleaning and laundry. Added touches for all room categories such as in-room Espresso machines stocked with premium Illy coffee, Sony Playstation 3 Videogame consoles, Egyptian cotton linens, IPod Docking Stations and a selection of Elemis Spa Amenities further reinforce the resort’s five-star status. Guests are encouraged to experience complimentary on-site daily activities including yoga classes, movie nights and sailing, kayaking and beach volleyball.

THE OVERSIZED ROOMS
Perched on 11 acres, The Veranda Resort occupies approximately 800 feet of beachfront along the famed 12-mile-long sugar-white sand of Grace Bay. Inspired by British Caribbean architecture, the vibrant community-style resort is divided into three types of accommodation: the four-storey Veranda House, a collection of 2-storey Veranda Townhouses located along the Veranda’s picturesque walkways, gardens and pools and eight freestanding Beachfront Cottages with private plunge pools and direct beach access. All buildings feature Caribbean chic architectural styles and furnishings inspired by the legendary coastal destinations of Nantucket and Key West. Each residence features flat screen televisions, a BOSE Sound Dock entertainment system, wireless internet and a custom fully-stocked in-room kitchen and bar facilities with stainless steel appliances and full washer/dryer. Each bathroom environment is decadent with marble floors, stone vanities, deep soaking tubs, and glass enclosed rain showers.

The Veranda House is located at the heart of the resort and is comprised of studios (up to 594sqft), one bedroom (up to 956 sqft) and two bedroom (up to 2198sqft) layouts. Perched on the top floor of the Veranda House is a collection of unique two-story loft style two-bedroom residences with entry foyer, master and guest bedrooms, 17 foot ceilings and private balconies that offer stunning views of Grace Bay.

Located along The Veranda’s picturesque walkways, gardens and pools are the multi storey one-, two- and three- bedroom Veranda Townhouses ranging in size from 687 sqft to 2,996 sqft. All residences feature spacious outdoor verandas and viewing decks.

The eight freestanding three- and four-bedroom Beachfront Cottages at The Veranda are surrounded by lush landscaping for privacy and boast direct access to Grace Bay beach. All cottages come equipped with the amenities and services you would expect from a five star resort including: private plunge pools, concierge and butler services, private chef, dining service, pre-arrival provisioning of groceries, shopping and delivery throughout the stay, childcare services, daily housekeeping services, laundry services and much more.

DINING
Marin
At the heart of the property is Marin, the resort’s signature beachfront restaurant and bar perched alongside the Linear Pool and white sand beaches of Grace Bay. Marin provides dramatic ocean views and gourmet cuisine infused with local and Caribbean influences for an unexpected dining experience. Fresh seafood is the primary focus with an extensive wine list of over 120 selections stored within a contemporary glass wine wall. Long sommelier tables decorate the interior space for larger parties, while intimate clusters of beachfront dining provide more private retreats along the shore and pool. Blue glass tiles decorate the adjoining Bar at Marin inspired by Keith Hobb’s neighboring Infiniti Bar at Grace Bay Club, complete with outdoor fireplace and four egg-shaped swinging chairs. The bar will provide an additional 40 seats and serve a collection of Caribbean inspired tapas. Bar service will begin at 11am. Marin boasts 200 seats and will be open for breakfast, lunch and dinner.

Grill Bleu
The perfect setting for a light meal, this alfresco venue overlooks Grace Bay Beach. Boasting the only Tandoori Oven in Turks and Caicos, the menu offers a continental blend of grilled favorites and tropical libations. Contemporary in design, the space seats 100 for breakfast, lunch and dinner. Natural sand colors with bright blue accents keep the focus on the surrounding environment while colorful flavors are prepared in a striking open-air kitchen.

Courtyard Café
Experience homemade favorites including a range of gelato and specialty coffees in an intimate Courtyard setting surrounded by colorful Caribbean fountains and lush tropical gardens. Fresh pastries and sandwiches are made daily in addition to frozen drinks and smoothies. Open for breakfast, lunch and light dinner fare.

RELAXATION
Sabai Spa & Wellness Center
Sitting across a tropical water garden, the new two-story Sabai Spa beckons guests with pampering and wellness programs and an extensive fitness center offering yoga, state-of-the-art equipment, Lit Nova surface tennis court and personal training/nutrition counseling. The Asian-inspired style design incorporates natural elements such as wood and stone, providing a fresh and soothing setting for guests to indulge in the ultimate pampering and beauty services. The eight treatment rooms feature a mix of single and couples rooms as well as separate, secluded private suites. A full menu of Elemis spa services such as massages, facials, body treatments and four manicure/pedicure stations are available to guests in addition to full his/hers facilities with steam rooms, outdoor showers and relaxation areas.

For more information, visit www.verandatci.com or call 877-945-5757.

About The Veranda Resort & Residences
The Veranda is developed by owned Faez Ltd., a Turks & Caicos company controlled by UK entrepreneur Andre Serruys. The property development team consists of Ronald D. Sutherland, president of The Hemisphere Group and Jeffery A. Lee, architect and senior partner of Lee & Astwood Architects. Both have extensive experience with some of the finest resort and residential properties in the Caribbean basin.

About Grace Bay Resorts
Grace Bay Resorts is a boutique developer and operator of high-end, luxury resorts and branded residences, founded from its flagship property Grace Bay Club in Turks and Caicos which opened in 1993. Led by Mark Durliat and Nikheel Advani, the developers and hoteliers behind this renowned resort, and Michael Brewster, Managing Partner of Denver-based SV Capital Partners, Grace Bay Resorts provides development, branding and management for its brand and is expanding its award-winning services into other Caribbean destinations and Latin America, with a target of 10 properties in the next few years.

About Turks & Caicos Sotheby’s International Realty
Turks & Caicos Sotheby’s International Realty is the leading luxury real estate brokerage firm in the Turks and Caicos Islands. Joe Zahm, President of Turks & Caicos Sotheby’s International Realty, and Mark Durliat CEO of Grace Bay Resorts, joined forces in 2003 prior to the launching of the highly successful residential program at Grace Bay Club. This relationship has been a fruitful one, with well over 100M in real estate sales sold at The Villas and the Estate at Grace Bay Club. Mr. Zahm and Nina Siegenthaler, VP of TSCIR, have worked hand in hand with Mr. Durliat’s operating group (led by COO Nikheel Advani) to create a dynamic sales program that has forged a market leadership position in the Turks & Caicos Islands.
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Media Contacts:
Caitlin Austin/Amanda Schinder, Susan Magrino Agency
641 Lexington Avenue, 28th Floor
New York, NY 10022
212.957.3005, Caitlin.Austin#@smapr.com / Amanda.Schinder@smapr.com

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