Turks & Caicos Sotheby’s International Realty is named exclusive Sales Agent for The Veranda Resort

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(Providenciales, Turks & Caicos – BWI – September 18, 2009)
Turks & Caicos Sotheby’s International Realty is pleased to announce it has been named exclusive Sales Agent for The Veranda Resort and Residences, a residential resort condominium development fronting Grace Bay. Veranda is being developed by FAEZ Ltd., a Turks & Caicos Islands company, and is being managed by Grace Bay Resorts, who own and operate the award winning five – star Grace Bay Resort.

As the Caribbean’s only beachfront residential resort community of its kind, The Veranda Resort & Residences features architectural styles inspired from legendary coastal destinations such as Nantucket and Key West. The development blends the distinctive low rise architectural style with tropical colors, lush landscaping and inviting walkways. The accommodations, restaurants, swimming pools, and peaceful spots, are all steps from world-famous Grace Bay Beach. The Veranda has all the amenities you would expect of a new luxury Caribbean resort, fronting the world’s most fabulous 12-mile-long, sugar-white sand beach. The community has 123 residential villas and 8 beach front residences, each with private plunge pools, ranging in price from around US $400,000 to under $3.9 Million. The Veranda has a signature beach restaurant and bar with a unique roof top terrace, a separate beach grill, three swimming pools, spa & fitness center, gift shop, wedding and special events planning and catering services, room service, conference facilities, a children’s program and many more special services.

Sales efforts will commence in October, with the on – site Sales Centre opening in December, to coincide with the opening of the resort. States Joe Zahm, President of Turks & Caicos Sotheby’s International Realty: “We are thrilled to be representing this truly unique project, as the only low density – scale development on Grace Bay, creating a warm and inviting community environment. It also represents the best price / value product to come along since the beginning of the decade, with a variety of terrific product types – from Studios in Veranda House to four bedroom single family residences along the beach. Adds Veranda’s Managing Director Ron Sutherland, “We feel that Turks & Caicos Sotheby’s International Realty is a great fit for The Veranda Resort & Residences since Joe Zahm and his team have successfully represented not only the highly successful Grace Bay Club projects, but other high profile developments on Grace Bay over the past for several years. The international reach of the Sotheby’s brand and the firm’s and local market presence will be a significant additional source of coverage in our sales program”.
For Further Sales Information: Contact Turks & Caicos Sotheby’s International Realty at 946-4474 or visit www.verandatci.com .

ACCOMDATIONS TAX INCREASES BY 1%

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FOR IMMEDIATE RELEASE FROM:

THE TURKS AND CAICOS ISLANDS GOVERNMENT INFORMATION SERVICE (TCI-GIS)

Office of Public Service Management
Grand Turk,
Turks and Caicos Islands
Tel: (649) 946-2801
Web: www.tcgov.tc

GRAND TURK, Turks and Caicos Islands; Monday, October 19th, 2009 – On 20th July 2009, as part of the revised revenue generating measures, the Cabinet agreed to the introduction of an additional 1% hotel and restaurant tax. This was due to come to into force on 1st August 2009.

Due to unforeseen circumstances, the introduction of this measure was delayed and subsequently gazetted to come into force 1st October 2009. However, following representation made by industry stakeholders, the tax rise will be effective from 1st November 2009.

Turks and Caicos Sotheby’s International Realty Merges with Connolly Zahm Properties Ltd

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PRESS RELEASE

JUNE 22, 2009 – Connolly Zahm Properties Ltd. (CZP) today announced it has merged with Turks and Caicos Sotheby’s International Realty to form the Turks & Caicos’s most dynamic luxury real estate brand.
The combined firm will operate as Turks and Caicos Sotheby’s International Realty.

CZP, which recently celebrated its 10th Anniversary, has held the dominant market share position in the expanding TCI luxury condominium sector for the past several years, posting sales in excess of $400,000,000 since its inception. Its CZP Collection has become highly-respected in the TCI, and has included properties such as The Villas and Estate at renowned Grace Bay Club, Seven Stars, West Bay Club, Villa Renaissance, Le Vele, West Bay Club, and Gansevoort, as well as HAB Group’s newly launched The Vellagio.

“The merger of these two fine firms creates one of the most dynamic and successful luxury real estate companies in the Caribbean,” said Michael R. Good, president and chief executive officer, Sotheby’s International Realty Affiliates LLC. “The Turks and Caicos market is a significant attraction for the Sotheby’s International Realty® clientele, and I am very excited about how this newly-created organization will be able to serve them even more effectively.”

New Turks & Caicos Sotheby’s International Realty’s president and broker Joe Zahm explains, “CZP has had a great run over the past decade, and in looking forward we felt our clients would benefit from the iconic Sotheby’s International Realty brand, which in the Turks and Caicos has had a wonderfully diverse portfolio, including land and villas throughout the archipelago.”

“The Sotheby’s International Realty brand really is commensurate with the caliber of world-class properties we represent,” adds vice president Nina Siegenthaler – Borges. “And we’re confident its international reach and unparalleled marketing support will optimize our success in a great long-term market.”

Director / sales executive Karen Biker remarks, “We saw the opportunity to become the preferred luxury brokerage in the Turks & Caicos by merging with CZP and are excited about the prospects for the future. Our general brokerage experience combined with CZP’s track record in luxury resorts and condominiums will create a potent combination for many years to come.”

The Turks & Caicos Sotheby International Realty’s flagship office, designed by SWA, is ideally located at Venture House on the prestigious Grace Bay strip at the corner of Grace Bay Road and Ventura Boulevard. Enter the classic Bermudian-style building and the 20’-high vaulted ceiling creates an airy space that welcomes prospective buyers, while more intimate conference rooms allow for thoughtful client development. Turks & Caicos Sotheby’s International Realty will also maintain onsite offices at the acclaimed Grace Bay Club and Seven Stars.

The Sotheby’s International Realty network currently has more than 10,200 sales associates located in nearly 500 offices in 39 countries and territories worldwide. Turks and Caicos Sotheby’s International Realty listings will be marketed on the sothebysrealty.com global Web site. In addition to the referral opportunities and widened exposure generated from this source, the firm’s brokers and clients benefit from an association with the Sotheby’s auction house and worldwide Sotheby’s International Realty marketing programs.

Contact: Joe Zahm, President
Phone: 649.946.4474
Email: info@tcsothebysrealty.com
Website: www.turksandcaicossothebys.com