Taking its prominent position at the gateway to South Bank, Arc rises from the sculpted, sheltered resort beach and offers all-encompassing views from its 17 exceptional Sky Villas. Each with seamlessly connected landscaped Air Gardens, these new residences offer a secluded lifestyle experience of sky, sea, nature and space. At home in their dramatic setting, the Sky Villas welcome all-encompassing views of the Caicos Bank and the ever-changing scene of the vibrant South Bank ocean lifestyle.
A Rare Lifestyle Experience
Wellness, nature, and adventure form the very essence of the experiences at South Bank. Arc features a restaurant and bar, gym, two pools, jacuzzi, owner’s lounge, board room, garden firepits and a boardwalk leading to the cabanas on the pier. Within the main resort, Arc residents also benefit from the lagoon-side rejuvenating spa and gym, effortless boat concierge service and Clubhouse restaurant and bar. With owner and guest service and facilities expertly provided by Grace Bay Resorts, every day will be an experience to treasure. Experience Caribbean waterfront living at its best, delivered by one of the leading hospitality experts in the Caribbean.
Meet The Architects
Piero Lissoni, Founder and Design Principal at Lissoni®, brings his mastery of contemporary design to South Bank with the unveiling of Arc and its Sky Villas. With offices in Milan and New York, Lissoni® has a thirty-year history in developing international projects. Inspired by a sense of rigor and simplicity, his designs are characterized by a regard for detail, coherence, and elegance. The ideal fit for the South Bank vision. Meet the renowned architect behind the Sky Villas at Arc, as he explains his vision for this inspired reimagining of elevated beachfront living.
A lot has happened at The Strand in Cooper Jack Bay since the ceremonial Groundbreaking on March 25th, 2022. We recently published a video in social media (https://www.instagram.com/p/CfhEpytqBY5/) revealing that Cooper Jack Bay Road is now entirely paved. Road paving, as we witnessed in Turtle Tail (paved in 2016), is pivotal to increases in land and property values, with the most recent oceanfront land and oceanfront villa sales garnering a 30+% increase as compared to sale prices of recent years. The completion of Cooper Jack Bay Road was spearheaded by the Developers of The Strand, an ultra-luxury development which will bring tremendous added value to the surrounding neighborhood of Cooper Jack.
The Strand Luxury Residences
As for the construction updates at The Strand, Luxury Residence R3 is now at roof level with doors and windows being installed and Luxury Residences R2 and R7 are beginning the foundation stage. Of the six Luxury Residences, R8 is reserved leaving only one residence remaining available, R9 priced from $8.95M. There are three Grand Residences available priced from $10.5M. The Villas – Building A, is almost fully sold out and will begin construction imminently. The Villas are priced from $2.495M for a 2-bedroom and $3.1M for a 3-bedroom. Other construction milestones will be in the works in the coming months, including the reception building and resort beachfront area. We are excited about construction progress and sales momentum as we look forward to the future of The Strand and the quality lifestyle it will provide.
Our sales agents joined the development team at The Strand site yesterday to get a close up look on the incredible progress of Luxury Residence R3.
Luxury Residence R3 BeachfrontResidences and Villas will have stunning views of Cooper Jack Bay.
An exclusive, sophisticated hideaway in a relaxed coastal setting, The Strand is the first of its kind on the Island with a limited collection of luxury beachfront villas, custom residences, and homesites, alongside access to vibrant community programming and full resort amenities and services. The Beach Club flows into the centerpiece resort-style swimming pool, surrounded by native limestone, and the dramatic water’s edge restaurant and bar. Amenities include access to The Strand’s own Club Boats with a private captain, catamarans, kayaks, and paddleboards, as well as a tennis court, two pickle ball courts, and a state-of-the-art fitness center with a secluded yoga deck. Additionally, a la carte club services include in-home spa services, housekeeping, pre-arrival shopping, private chef and catering, airport transportation, landscape maintenance, an artist in residence program and security. In addition to the beachfront setting, the site offers 1,400 feet of canal and marina frontage, with a full marina and slips for owners, as well as several community yachts slips. The Strand is built from the ground up in the most sustainable way possible. In partnership with Renu Energy TCI, a local leader in solar home integration, The Strand offers solar packages on all its villas, making this development one of the first ultra-luxury community with this level of sustainability in the Caribbean.
As we read through the headlines of each market report, since the tipping point at the end of 2011, one can sense how the momentum has escalated throughout the past decade. Turks & Caicos Islands is no longer a secret and has become the luxury standard for investors and vacation homeowners. These yearly successes have helped our country overcome the odds, firstly in 2017 with Hurricane Irma and then in 2020 with the Pandemic. We remained cautiously optimistic during both of those occasions and now look back with pride for our community, private sector and the TCI Government and the good guidance and support provided by all throughout.
So how does a real estate market follow such a monumental year in sales? We can look to the financial advisors for their analysis such as the Baker Tilly report, within our Caribbean region, with recent headlines of “Investors Bullish on Caribbean Tourism Boom”. The newly published survey for 2022 is a robust report that shows several indicators that both Banks and Non-Bank Lenders are confident that the Caribbean real estate and tourism growth will continue for the next 12 to 18 months. Link to Baker Tilly Survey Here. What does this mean for Turks & Caicos Islands? Thankfully, several developers have exciting projects on the forefront which will be launched very soon. New developments and emerging re-sale inventory will help bridge the gap to sustain our market’s decade-long momentum. The fast-paced sales cycles witnessed in 2021 and first quarter of 2022 have tapered off in some areas positioning buyers for a hopeful replenishment in depleted inventory.
Another indicator of our sustained and continued growth is Standard & Poor’s affirmation of our country’s sovereign credit rating for long-term bonds, denominated in both domestic and foreign currency, of BBB+. Furthermore, S&P believes the TCI will continue to adhere to prudent financial management and limit borrowing, and that fiscal reserve balances will increase during the next two years. Link to TCI Weekly News Article.
The gauge where real estate agents have our finger on the pulse is with our clients and owners of TCI real estate. This is the barometer that is at the core and best defines the health and sustained growth of our market. With 85% of TCI real estate owners from North America, we can sense the ebb and flow with investor confidence within our market which is historically linked directly to the USA and NA.
Now for our current market report for the first half of 2022, the market stats are holding up quite well to last year’s historic run. Condominium sales continue to be strong with a sales volume increase of 42.54%, led by the Rock House completion, Ritz Carlton sales completions carryover and robust condominium re-sales. In 2021, buyers were focused on single family villas until inventory depleted, and now in 2022 they are concentrating on condominiums at all price ranges. The Overall Market finished a mere 10.5 % down over last years’ Q2 with $327,501,259 in total sales.
Even in the face of world events and economic shock waves led by inflation, TCI continues to see steady demand for quality real estate, though certainly a bit less frenetic than in 2021. Q3 and Q4 will see the launch of significant blue chip new developments, which bodes well for future inventory and our evolving luxury tourism product.
We welcome you to view the full report for new listings and market graphs illustrating the decade long momentum. Download the full report with one of the links below.
Rock House is the next generation luxury resort and residential development in Grace Bay Resorts’ family of successful hospitality brands. The operations team enthusiastically prepared for the opening of the resort with trial stays for owners and select guests to support the training phase and to put the finishing touches in place for the first vacation guests to arrive. Rock House is experiencing vast interest from the luxury travel market with advance bookings ahead of forecast. Guests will experience the 5-star luxury from the initial welcome to the beautifully furnished suites and full-scale amenities provided. The center of attraction at Rock House is its dramatic, secluded beach, and the iconic 100 ft infinity pool sitting proudly upon an oceanfront cliff, lined with sophisticated daybeds, built in cabanas and poolside sanctuaries that will feature food and beverage service and a signature stone lounge set on the waters edge. Upon the hilltop overlooking it all is the restaurant and bar, spa, fitness center and arrival pavilions, each offering a 180-degree view of the Atlantic Ocean and Providenciales.
Take a sneak peak at the newly opened Rock House Turks & Caicos!
Turks & Caicos Real Estate continues to soar as 2022 is shaping up to be another strong year with buyer demand remaining solid in a fast-paced market with a lot of moving targets. Competition for desired properties is high with many listing agents managing multiple offers and off market properties selling without coming to market. Buyers know what they want, and sales agents are digging deep to find an appropriate investment or vacation home for their clients and customers.
Construction throughout Providenciales, even without large scale vertical development, at this time, is at an all-time high with new homes coming out of the ground in all community areas and stretching to the out islands. The biggest issue for builders and developers is trying to contain ever increasing construction costs hit hard by supply chain and inflationary issues.
In the forefront with new construction is the implementation of renewable energy which seems to be a top selling feature for new developments on island. Notable developers are on board with Renu Energy TCI, a renewable energy company that has also experience tremendous growth over the past three years with the installation of solar panels, tesla power walls and electric vehicles and accessories.
Fortis TCI has also been at work transforming the TCI energy landscape with the introduction of solar power programs to take advantage of this ample resource, C.O.R.E (Customer Owned Renewable Energy) and U.O.R.E. (Utility Owned Renewable Energy), with the latter program contracting several companies. The EV and charging station pilot project which was introduced in 2018 has started to catch on with several electric cars in use throughout and charging stations popping up across the island.
Leading the way in energy efficiency and various forms of renewable energy in Turks & Caicos was Green Revolution which was established in 2011. Since their formation the company has completed many projects both residential and commercial in scale, throughout the region. These projects are saving residents of the Caribbean hundreds of thousands of dollars each year.
With sustainability on peoples’ minds and in the news, we are proud that our country has embraced the importance of these initiatives and developed a plan for our beautiful by nature islands. The recent signing of the TCI Climate Change Charter which took place on Earth Day this past Friday, April 22nd during the 1st Annual Climate Change Summit entitled “Only One Earth – Invest In Our Planet”, the private and public sectors came together to take action with this roadmap as a guide to help protect and safeguard our environmental assets.
To continue reading, download the full report with one of the links below.
The Strand, Cooper Jack Bay – The Villa Pool Deck View
February 3.2022 – Providenciales, Turks & Caicos Islands
The Strand, Turks and Caicos, an exclusive residential resort community located on 2,230 feet of pristine shore frontage on Cooper Jack Bay, today announced the start of construction. Following the announcement of the new development in late 2020 and a very successful sales launch in 2021, the developers have received all permits and approvals and are underway building out single-family homes and several community amenities, including the marina and Beach Club. The project is expected to be complete by 2025.
With over $45 million in reservations and contracts to date, The Strand has seen incredible demand and is poised to sell half of its inventory by the end of spring 2022, positioning the property to become the premier private community in the Caribbean. Interest has been especially strong from young families who are looking for a second home in a safe and accessible destination with full-service amenities and five-star service. With rich airlift and a low tax environment, Turks and Caicos is an ideal choice for those seeking a second home island paradise.
With such strong demand coming from owners with young families, The Strand has also pivoted its residential design concepts to introduce three-bedroom managed villas, appealing to the needs of today’s buyers striving for flexibility and relaxed, resort-style living for their families. Priced at $3 million and situated directly on the water, these three-bedroom residences also increase rental opportunities for owners, solidifying The Strand as one of the best villa rental accommodations on the Island.
“The Caribbean, and Turks and Caicos in particular, now more than ever is seeing an influx of interest from a younger demographic, who are craving a special legacy home that can be passed down through generations,” said John Fair, managing director of The Strand. “The Strand is appealing to these active families due to the collection of shared sport and socializing amenities, such as access to the Beach and Racquet Club, a concept which does not currently exist in Turks and Caicos, and further creates opportunity for connectivity among owners and guests.”
Joe Zahm & Nina Siegenthaler Visit the Construction Site with Developer John Fair
An exclusive, sophisticated hideaway in a relaxed coastal setting, The Strand is the first of its kind on the Island with a limited collection of 46 luxury beachfront villas, custom residences, and homesites, alongside access to vibrant community programming and full resort amenities and services. The Beach Club flows into the centerpiece resort-style swimming pool, surrounded by native limestone, and the dramatic water’s edge restaurant and bar. Amenities include access to The Strand’s own Club Boats with a private captain, catamarans, kayaks, and paddleboards, as well as a tennis court, two pickle ball courts, and a state-of-the-art fitness center with a secluded yoga deck. Additionally, a la carte club services include in-home spa services, housekeeping, pre-arrival shopping, private chef and catering, airport transportation, landscape maintenance, an artist in residence program and security. In addition to the beachfront setting, the site offers 1,400 feet of canal and marina frontage, with a full marina and slips for owners, as well as several community yachts slips.
Conveniently located on an undeveloped, unspoiled stretch of coastline on the protected south side of Providenciales, The Strand is built from the ground up in the most sustainable way possible. In partnership with Renu Energy TCI, a local leader in solar home integration, The Strand offers solar packages on all its villas, making this development one of the first ultra-luxury community with this level of sustainability in the Caribbean.
Each of the residences is perched oceanside with direct access to the water below and ocean-facing bedrooms with uninterrupted views. The design-forward residences—in collaboration with RAD Architecture, Inc. and Modus Operandi interior design—are carefully hand-crafted to celebrate the island’s laidback lifestyle. Current residential offerings include:
New three-bedroom Villas have been introduced priced at $3 million. Each villa is capable of renting as three separate lock-off suites – each complete with three oceanfront bedroom suites directly overlooking the ocean with magnificent views. These dramatic villas offer the best in carefree island living while maximizing rental income. Each villa has a private plunge pool, outdoor shower and two-person soaking tub.
Turn-key two-bedroom Villas are designed with lock-off units on separate levels, offering one and two-bedroom layouts. Each exotic villa has its own plunge pool and outdoor shower and soaking tub. An optional rooftop terrace includes an open-air kitchen, bar, and dining space. The Villas have more than 3,000 square feet of indoor-outdoor living space and are priced at $2.45 million.
Elegant four- and five-bedroom Luxury Residences feature a dramatic two-story great room overlooking the pool and the Caicos Banks. The main house has four oceanfront en-suite bedrooms, a handcrafted infinity pool, and a lush courtyard with outdoor kitchen. Certain lots include a courtyard plunge pool and spa, one-bedroom guest house, and family/flex room. Each residence has a built-in overlook at the iron shore edge and a grotto beach. Luxury Residences start at approximately 8,300 square feet of indoor-outdoor living space and are priced from $6.8 million.
Six-bedroom, seven-bathroom Grand Residences are the largest and most luxurious residences with 14,000 square feet of indoor-outdoor living space. The main house boasts five oceanfront en-suite bedrooms, including a spectacular second-floor master suite. An expansive great room opens to a formal outdoor terrace and handcrafted infinity pool with endless ocean views. The courtyard features a plunge pool and spa, outdoor kitchen, family/flex room, and one-bedroom guest house. Residences offer a built-in overlook at the shore’s edge and a grotto beach. Owners will be able to fully customize the home and landscaping. There are three Grand Residences priced from $10 million.
Six oceanfront lots are set aside for custom homes. Starting at $3.5 million, each has more than 100 linear feet of Cooper Jack Bay coastline to the front and 100-foot yacht slip in the rear, making these lots—ranging from 0.7 to 1.28 acres—among the most unique offerings in the Caribbean.
2021 Turks & Caicos Real Estate – Exceeding Wildest Aspirations!
The headline for our 2020 Year End Report read: “2020 Turks & Caicos Real Estate Market Closes Like a Champ”. Then, with each quarterly report throughout this past year, we witnessed record breaking sales and it became clear that we were heading for a historic year. And what to say about a supernova year where our annual sales volume increased 158.5% from $290M to $751M!! Where Single Family Homes accounted for a whopping $369M, up 137% over last year’s $155M, with average prices up 30%, from $1.72M to $2.25M. And where Condominium sales, led by the completion of The Ritz-Carlton, improved by 282%, from $59M to $225M, with a 33.5% increase in average price from $1.03M to $1.38M! With regard to the Condominium sector, we went well over a decade without a new Grace Bay vertical development, so The Ritz-Carlton fulfilled a huge gap in the market. With other projects in the pipeline, including Point Grace Phase 2 by Grace Bay Resorts, The St. Regis by the developer of The Ritz-Carlton and perhaps the long-awaited Andaz Residences, we should see some consistent Grace Bay condominium development. Demand continues to be frenetic for quality upper-level beachfront units with owners holding dear to their places. Days on market are short with high elasticity in price for the better inventory. The new projects will help to fulfill over a decade of pent-up demand and increase its share of all sales beyond the existing 30%. From Trophy properties to managed and stand-alone villas, Single Family Homes owned the day, accounting for 49% of the total market. Significant sales included Turtle Tail Estate at $20.25M, Coral Pavilion at $15M, Beach Enclave Grace Bay at $10.2M, Villa Chill at $10M (all Listed and Sold by TCSIR) and Villa Salacia at $16M (Sold by TCSIR). Several off market properties, at significant price points, transacted that were not recorded on MLS. New Development sales posted on MLS accounted for only 18% of gross sales volume in this segment, with most New Development sales still pending as the aforementioned figures do not account for the $460,000,000 in Pending and Conditional transactions on our MLS, led by South Bank, Rock House and The Strand. Raw Land sales also fared well, with a 115% year-on-year improvement, from $63.7M to $137M and a 54% increase in average price from $370,807 to $573,009. So, what to say, beyond wow! The colossal numbers aside, TCI continues to enjoy the excellent fundamentals we so often have written about, where quality, ease of access and use, freedom of movement and open outdoor space are treasured. We envision a strong 2022 ahead, albeit with some inventory restrictions, featuring a healthy balance of new development condominiums and villas, and perhaps some traction on our private islands. As always, we thank our team, clients, customers, industry colleagues, and the broader private and public sectors for their amazing adaptability, tenacity, and grace in navigating the Covid world. We never dreamed that through all of the significant challenges, we would exceed our wildest aspirations in 2021.
We have been quietly busy at The Strand getting ready for groundbreaking. The entitlement process through COVID has been grueling but we are finally at the end of the process and ready to start building. In that light we wanted to update you on the progress:
~ Excavation of the Marina is underway and we will start building the road base for paving Cooper Jack Road within the next week or two. ~ Water and Power has been brought to the site and distributed along Cooper Jack Road and Seaview Drive. All of the transformers have been ordered. ~ Building permits for the Luxury and Grand Residences should be delivered this week with earthwork and construction starting immediately thereafter. ~ Building permits for the Villas A and B buildings, the amenities and infrastructure including the beach creation are expected by the end of the year. ~ We have approximately $50 million under reservation and contract and land sales will be starting within the next week. This is right where we wanted to be for the start of construction, between 20% and 25% pre-sales on a dollar value basis. Now that we are ready to start and have a strong handle on our costs, we will be very aggressive selling through the upcoming season and our current sales activity is the strongest it’s ever been.
Come and visit to see the progress firsthand. We always enjoy showing the property so come on down and have a glass of wine on the sales deck or view the property from the water on The Strand’s Boston Whaler!
Warm regards, John Fair Developer & Managing Director
Building on the record breaking first half of the year, Q3, historically our slowest quarter, gained a whopping 319% over Q3 last year ($158,905,323 vs. $37,891,750), with year-to-date sales volume up over 150% over the first three quarters of last year ($496,710,829 vs. $198,330,657). These numbers represent historic events, of course, and with Canada and other countries now open for travel, we expect a strong fourth quarter with the caveat that all this great sales volume is resulting in constriction of inventory.
Led by a slew of trophy sales, and luxury villas (managed and standalone), single family homes have accounted for 56% of the total market y-t-d ($280,874,064 with an average price of $2,246,993) up 161% and 17% respectively. Condos account for 19.8% of the total market ($98,745,262) up 196% y-t-d). This number will normalize as new development condos at Ritz Carlton Grace Bay and Rock House are posted as closed. Raw land sales also displayed strong performance and have accounted for 21% of the total market and is up 123% year-on-year with an increase of 45% in average price from $397,363 to $576,371. Significant sales in Q3 included Coral Pavilion $15M, Footprints on the Beach $8.1M, Beach Enclave North Shore V4 $5.5M, Beach Enclave Long Bay V6 $5.45 and Hawk’s Nest Villa $2.77M.
Turks & Caicos Real Estate Sales Continue at a Breakneck Pace!
The TCI real estate market is seemingly ‘too hot to handle’ as we witness yet another record-breaking quarter in sales volume along with pending/under construction sales not recorded within this amount! This first half of the year has just closed out with a staggering $328M in sales volume which is normally TCI’s yearly sales volume – in a very strong year! That’s a 105% increase over last years 2nd Quarter with an average price increase of 26%. All segments of the market saw increases contributing to this incredible spike in sales. Significant sales noted in this 2ndQ were, Turtle Tail Estate $20.25M, Villa Salacia $16M, Casa Tremer $7.995M, and The Estate at Grace Bay Club G504 $5M.
The tourism industry is also witnessing record numbers in occupancy during this time as Turks & Caicos continues to flourish and to fulfill its destiny as a leading and premiere upscale destination in the Caribbean. The resilient Turks & Caicos real estate and tourism market has sustained economic growth and real estate sales for the past eight years, and we expect to see continued growth, with new and exciting projects in the pipeline. To continue reading, click link to download full report.
Turks & Caicos Real Estate | Caribbean 