Turks and Caicos – Three Luxury Hotels Planned for Grace Bay

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Venezuelan hotel developer Desarrollos Hotelco Group has signed an agreement with the Turks and Caicos Islands government to build three luxury hotels on Grace Bay at a cost of $500 million, government announced Oct. 30.The first 400-room hotel is planned for the 10.5-acre site adjacent to the Seven Stars Resort on Providenciales. Desarrollos Hotelco also plans to build two more hotels with a total of 500 rooms on property west of the Sands that was formerly planned for a development called Mandalay, also on Providenciales.

None of the buildings will be taller than 96 feet, which is the height of the Seven Stars. The development is not related to the proposed 28-story proposal by Skyline Development Co.

The brands of the proposed hotels have not been disclosed, but the developer owns three hotels in Venezuela managed by Marriott, and it has developed a Ritz-Carlton resort on Aruba.

“We were attracted to TCI because it is a high-end tourism destination with great potential, friendly and welcoming people, and an excellent investment climate,” said Pedro Vera of Desarrollos Hotelco. “We look forward to investing in TCI and being a participant in bringing luxury resort brands to these islands.”

Desarrollos Hotelco first visited the TCI in March 2011 and has been working with the government’s Investment Unit, which set up meetings with the Planning Department and Airports Authority to help ensure the sustainable and supported growth of the island’s infrastructure needs and airlift capacity.

Consultancy firm KPMG TCI has been employed by the developer to complete a full social and economic impact study for the properties.
“This is the best possible vindication of the new TCI Inward Investment Policy, management structure and approach to attracting inward investment on the best terms for the taxpayers of the TCI,” said His Excellency the Gov. Ric Todd.

“This confirms that major international investors are impressed by the reforms that we have made over the past three years and, despite global economic difficulties, see the Turks and Caicos Islands as a great place in which to invest and to do business.”

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Written by Turks & Caicos Free Press Staff

Turks & Caicos Islands Shines in Conde Nast Traveler – Readers’ Choice Awards 2012

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Condé Nast Traveler Readers’ Choice Awards where readers participate online in awarding properties and destinations by rating them in several categories.  We are pleased that Turks & Caicos continues to shine as a tourist destination with the following list of awards:

Turks & Caicos Islands – Top 10 Islands in the Caribbean & Atlantic Region 2012

Parrot Cay Resort – World’s Best Places to Stay Gold List 2012, Top 30 Hotels in Caribbean & Atlantic 2012, Top 25 Spas in Caribbean & Atlantic 2012

Amanyara Resort – World’s Best Places to Stay Gold List 2012, Top 30 Hotels in Caribbean & Atlantic 2012

Grace Bay Club – World’s Best Places to Stay Gold List 2012, Top 30 Hotels in Caribbean & Atlantic 2012

Seven Stars Resort – Top 15 Hotels & Resorts in Caribbean 2012, Top 12 Resorts in Atlantic Ocean 2012

The Regent Palms – Top 12 Resorts in Atlantic Ocean 2012, Top 25 Spas in Caribbean & Atlantic 2012

Gansevoort Turks & Caicos – Top 30 Hotels in Caribbean & Atlantic 2012

The Sands on Grace Bay – Top 30 Hotels in Caribbean & Atlantic 2012

Congratulations to all the hotels and resorts for your continued efforts in serving and pampering your guests who clearly enjoy travelling to our beautiful islands and resorts.

Click on this link for further information on the Condé Nast Traveler Readers’ Choice Awards.

Turks & Caicos Real Estate Market Report – 3rd Quarter 2012

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We are pleased to inform you that the overall real estate market is up nearly 70% over the same year to date period in 2011.  The $12.5M sale of the 11 acre parcel next to Seven Stars has led the way along with a number of significant sales made by Turks & Caicos Sotheby’s International Realty.  Click on link to read more.

Link to Market Report

Joe Zahm, President, Turks & Caicos Sotheby’s International Realty

joe@tcsothebysrealty.com  p 649.946.4474  c 649.231.6188

Turks & Caicos Sotheby’s International Launches State of the Art Website

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FOR IMMEDIATE RELEASE

Providenciales, Turks & Caicos BWI (September 27, 2012) – Turks & Caicos Sotheby’s International Realty, the area’s leading luxury real estate firm, launched its new web site www.turksandcaicossir.com, which is integrated with the acclaimed Sotheby’s International Realty site (www.SIR.com). This means that most enhancements made and new features added to www.SIR.com will also be available on www.turksandcaicossir.com. This “cascading platform” technology allows Turks & Caicos Sotheby’s International Realty clients and website visitors premiere access to cutting-edge real estate tools on a global scale. Adding to the buzz is the recently launched iPad application that gives iPad users a tablet-optimized experience when searching and viewing properties.

States Broker Joe Zahm, “When I first saw the presentation for the new cascading web platform, I was enormously impressed and felt that it was way ahead of the rest of the industry, so I liaised with Denise Douglas, our Marketing Manager, to plan the new site. Denise, with the recent success of our signature magazine, The Finest Collection, managed and coordinated the content (in concert with the developer, Gabriel Solutions), to complete the site to a very high standard. Its aesthetic, functionality and imbedded SEO are outstanding, and we are thrilled with the end result”.

Adds Wendy Purvey, chief marketing officer, Sotheby’s International Realty Affiliates LLC: “The Sotheby’s International Realty brand has redefined the way consumers search for real estate.  Our home page notably displays a rotation of some of our network’s most striking homes.  When users mouse over the image, interactive boxes with additional information about the property appear. In the case of Turks and Caicos Sotheby’s International Realty, we have already showcased three of their listings on our global www.sir.com home page, which is a testament to the quality of their listings and photography, and how they look to give their upscale listings every possible advantage. Incidentally, all three of these listings sold this past year!”  Purvey continues: “Each listing features a video “slide show” that allows viewers to listen to a narration in their preferred language.  Also, the property list price is displayed in dozens of currencies, all updated daily with the latest exchange rates”.

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About Turks & Caicos Sotheby’ International Realty

Turks & Caicos Sotheby’s International Realty is the leading luxury real estate firm in Turks and Caicos and enjoys a commensurate market share position. A major force in the concept, design, launch and completion of many prestigious resorts and villas, our international team of local experts, combined with the iconic Sotheby’s International Realty brand and its vast marketing and referral network, including the venerable Sotheby’s auction house, provides a unique and powerful advantage to buyers, sellers, developers and investors. TCSIR benefits locally from an educated diverse team of agents and well located sales centers, highlighted by the Signature Venture House office on Grace Bay Road, along with an office at the acclaimed Grace Bay Club, and distribution at Seven Stars Resort.

CONTACT:  Denise Douglas – 649.946.4474 – denise@tcsothebysrealty.com

Turks & Caicos Sotheby’s International Realty – Top Producing Agents – Sept. 2011 to 2012

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According to the Turks & Caicos Real Estate Association “Top Producer Agent Report”, Turks & Caicos Sotheby’s International Realty boasts 6 of the top 10 producing sales agents in the Turks & Caicos Islands.

States President Joe Zahm:   “We are fortunate to have a terrific, international team of sales agents who truly are local experts with worldwide reach, through our Sotheby’s International Realty network.  We continue to be the market leader with a 40% market share in sold listings, and 60% in the luxury market (over $1.5M), with more than a few Significant Sales. This Top Producer report demonstrates the level of commitment by our sales agents to deliver quality service and results to our clients.”

Going Above and Beyond

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Going Above & Beyond
Our President, Joe Zahm, scoping out real estate via helicopter for prospective clients.

TURKS & CAICOS SOTHEBY’S INTERNATIONAL REALTY PARTICPATES IN LUXURY REAL ESTATE CONFERENCE

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PROVIDENCIALES, Turks & Caicos (Sept. 13, 2012) – Turks & Caicos Sotheby’s International Realty, a luxury real estate firm based in Providenciales, Turks & Caicos, recently participated in the 2012 Sotheby’s International Realty® Leadership Forum, which brought together more than 220 network members worldwide.

This dynamic, three-day event, which was held Sept. 10 to 12 at The InterContinental Chicago Magnificent Mile in Chicago, provided a unique opportunity for Sotheby’s International Realty brokers, owners and managers to network and share best practices. 

“The annual Leadership Forum provides fantastic value to our firm,” said Joe Zahm, President/Broker, Turks & Caicos Sotheby’s International Realty. “It offered the opportunity to network with some of Sotheby’s International Realty’s most talented real estate professionals, gain insight on how to continue to grow our company and learn more about the industry and the Sotheby’s International Realty brand’s vision for the future.  Further, it provides us with global perspective, power and resources, and we continue to increase our referral business as our international network learns more about Turks & Caicos.”

Turks & Caicos Sotheby’s International Realty, which has offices in Providenciales, offers exclusive Sotheby’s International Realty marketing, advertising and referral services designed to attract well-qualified buyers to the firm’s property listings. In addition, the firm and its clients benefit from an association with the Sotheby’s auction house, which promotes real estate referral opportunities with auction house clientele.

As a Sotheby’s International Realty affiliate, the firm also has the unique ability to refer its real estate clientele to the auction house for jewelry, art, unique furniture and collectible appraisal services. Property listings from Turks & Caicos Sotheby’s International Realty also are marketed on the sothebysrealty.com global website, as well as on the firm’s local website, turksandcaicossir.com.

“The Leadership Forum brings together our network members from all over the world with the common goal of sharing their own unique experiences,” said Michael R. Good, chief executive officer, Sotheby’s International Realty Affiliates LLC. “This year’s conference provided attendees with an overview of the exciting results of the brand’s exclusive global marketing relationships, highlighted the power of the network as evidenced by its strong referral system and offered presentations from owners and operators worldwide on how to create stronger company cultures with the ultimate goal of building organizations with the highest level of quality service available.  The event also provided insights from some of our most successful owners into recruiting strategies, growing through mergers and acquisitions and leveraging the unique relationship with the Sotheby’s Auction House.”

Turks & Caicos Sotheby’s International Realty is located at Venture House in Grace Bay, Providenciales.  For additional information, please contact 649.946.4474. The Sotheby’s International Realty network currently has more than 12,000 sales associates located in approximately 625 offices in 44 countries and territories worldwide. 

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CONTACT:

Denise Douglas

t 649.946.4474

e denise@tcsothebysrealty.com

Turks & Caicos Real Estate Market Report – 2nd Quarter 2012

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“The second quarter of 2012 continues to build off the momentum of 2011 and the first quarter of 2012, with all trends continuing upward.  In addition to this encouraging market news, institutional and private equity is finding its way back to TCI, and we anticipate good news later in the year with regard to a few projects that were put on hold post 2008”. States Joe Zahm, President / Broker, Turks & Caicos Sotheby’s International Realty.  Click on link to read more.

Link to Market Report

Joe Zahm, President, Turks & Caicos Sotheby’s International Realty

joe@tcsothebysrealty.com  p 649.946.4474  c 649.231.6188

Turks & Caicos Real Estate Market Report – 1st Quarter 2012

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TURKS & CAICOS REAL ESTATE MARKET REPORT 1st QUARTER 2012

In the first quarter of 2012, Turks & Caicos Sotheby’s International Realty enjoyed a sizeable market share, in a rapidly expanding market, with dominant share in the Condominium and Home/Villa sectors. Our overall average price is 63% higher than the jurisdiction average for the quarter, a testament to our luxury positioning and brand. We also procured another Significant Sale with the sale of the Estate at Grace Bay Club Penthouse, $7.1M.  As the market rises and the high end solidifies, TCSIR is uniquely positioned and qualified to help buyers and sellers achieve their real estate goals with our combination of local expertise and international marketing and brand power.

Joe Zahm, President, Turks & Caicos Sotheby’s International Realty

Link to Market Report

Turks & Caicos Sotheby’s International Realty Announces Top Network Sale

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FOR IMMEDIATE RELEASE

 Turks & Caicos Sotheby’s International Realty Announces Top Network Sale

Providenciales, Turks & Caicos (Apr 25, 2012) – Turks & Caicos Sotheby’s International Realty today announced it was recognized by the Sotheby’s International Realty® brand for having one of the top sales in its network for the month of January 2012.

 The firm earned the recognition for the sale of The Estate Penthouse in Providenciales, Turks & Caicos for $7,100,000, and was included in the brand’s monthly Significant Sales brochure featuring several of the top sales in its network.

On the sixth level this one-of-a-kind single floor Penthouse, measuring over 6,800 sq ft and boasting 125 feet of ocean frontage provides exclusivity and privacy at the highest level. Stunning ocean views, impeccable details, bespoke designer furnishings and grand entertaining spaces with the feel of intimate living. The incredible view is the pièce de résistance in this height of luxury. This Penthouse includes 4 oceanfront bedrooms, 4 1/2 bathrooms, ocean front office and media room. Through its affiliation with Grace Bay Club, The Estate enjoys 1,050 of ocean frontage and use of all the amenities offered at Grace Bay Club Resort. The Estate owners enjoy a private oceanfront pool featuring multiple levels, Jacuzzi tub, and a 25 meter lap pool. The Poolside Cabanas allow for private in-cabana Spa treatments or private dining. 

Listing Agent:  Joe Zahm   Selling Agent:  Nina Siegenthaler

“Significant Sales provide a halo effect over the entire real estate industry.  Purchasers, vendors, brokers and agents, and a broader base in the tourism, development and financial sectors gain confidence in markets where significant properties sell, and are publicized.  This adds energy and value to the marketplace, and provides momentum for growth.  So when people ask what the biggest difference is between this year and the past two, I tell them it is the re-emergence of the luxury market, for all the aforementioned reasons.”  Joe Zahm, President of Turks & Caicos Sotheby’s International Realty.

Turks & Caicos Sotheby’s International Realty is the leading luxury brokerage in the Turks & Caicos Islands and enjoys a commensurate market share position. TCSIR is the acknowledged leader in the luxury condominium industry and luxury real estate market, and has been a major force in the concept, design, launch and completion of many prestigious resorts on Grace Bay. Our international team of local experts, combined with the iconic brand of Sotheby’s International Realty and its vast international marketing and referral network provides a unique and powerful advantage to buyers, sellers and investors in Turks & Caicos Real Estate.

 Turks & Caicos Sotheby’s International Realty, Venture House, Grace Bay, Providenciales

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CONTACT

 NAME:  Denise Douglas

TITLE:  Office & Marketing Manager

PHONE:  649.946.4474

E-MAIL:  denise@tcsothebysrealty.com