Latitude 22, Developers of Ridgeview and Karaya Blue, in collaboration with Turks & Caicos Sotheby’s International Realty are delighted to present a first hand perspective on this remarkable residential development.
About Turks & Caicos Sotheby’s International Realty Turks & Caicos Sotheby’s International Realty (TCSIR) is the premier luxury real estate brokerage firm in Turks & Caicos. Boasting a profound track record and significant foothold in all market segments, particularly new development and trophy properties, TCSIR is the go-to resource for developers, investors, home-buyers and sellers in this highly sought-after destination. With strong leadership backed by the world’s greatest international luxury real estate brand, and a diverse array of international agents representing 15 countries, TCSIR is influential in both the local community as well as the greater real estate industry worldwide. The firm’s signature office is ideally located in uptown Grace Bay with satellite offices at Grace Bay Club, The Palms and Point Grace. For more information please visit http://www.turksandcaicossir.com.
Turks & Caicos Sotheby’s International Realty, Venture House, Grace Bay Road, Providenciales | info@tcsothebysrealty.com | 1.649.946.4474
Blondel Cove is a one-of-a-kind 6-bedroom villa in the exclusive Blue Cay Estate community developed by Windward within the desirable Leeward neighborhood on Providenciales. Boasting the ultimate in privacy on its own pristine stretch of 260’ of beach and ocean frontage, the unique site spans 1.34 acres and the best combination of tranquil beach and 400’ of dock and canal frontage with its own boat lift, with ample room for an array of watercraft and boats.
Completed in 2019, Blondel Cove is the only property within Blue Cay Estate to span two original channel-front lots for total privacy. Designed by Blee Halligan architects, high design is featured throughout this custom home’s exterior and interior spaces, from the gated entrance tucked in at the cul-de-sac, ocean views lead you into the 4-bedroom Main House over the entry walkways over reflection pools and through the dramatic foyer to the vast great room and pool terrace beyond.
The bespoke wet bar area off the great room, chef’s kitchen, screened outdoor dining and lounge terrace and ample indoor and outdoor lounge spaces afford a full array of entertainment possibilities. A signature illuminated onyx staircase leads up to the second level with its grand primary suite and second bedroom. The primary bathroom features dramatic black and cream quartz floor to ceiling. Jaw-dropping views abound from both levels through full height glass and top-of-the-line sliding glass doors.
A secluded large media room is set apart from the home’s main living areas. The fire-pit and beach lounges or Blondel Cove’s water pavilion at the end of its jetty, are perfect places to cap off the day. The gracious two-bedroom guest house flanks the dock and canal area, offering a discrete retreat from the main house. The fully equipped stand-alone oceanfront gym and tennis court, half basketball court, and golf net round out the exceptional amenities.
About Turks & Caicos Sotheby’s International Realty Turks & Caicos Sotheby’s International Realty (TCSIR) is the premier luxury real estate brokerage firm in Turks & Caicos. Boasting a profound track record and significant foothold in all market segments, particularly new development and trophy properties, TCSIR is the go-to resource for developers, investors, home-buyers and sellers in this highly sought-after destination. With strong leadership backed by the world’s greatest international luxury real estate brand, and a diverse array of international agents representing 15 countries, TCSIR is influential in both the local community as well as the greater real estate industry worldwide. The firm’s signature office is ideally located in uptown Grace Bay with satellite offices at Grace Bay Club, The Palms and Point Grace. For more information please visit http://www.turksandcaicossir.com.
Turks & Caicos Sotheby’s International Realty, Venture House, Grace Bay Road, Providenciales | info@tcsothebysrealty.com | 1.649.946.4474
Led by Significant Sales, 2023 Market Puts Exclamation Point on Happy New Year!
Wherever you were for the festive holiday and New Year’s Eve celebrations we all had plenty to celebrate and be grateful for. The fireworks along the beach closed out 2023 in fine form with a celebration on Grace Bay and beyond that was the best we have ever seen! We look forward to 2024 as we take a brief look back in this report at our successful results within our real estate market.
Of notable mention are two significant sales, one a TCI record of $88.75M for a 36-acre commercial parcel on Grace Bay known as Cotton Bay which is set to be developed into a new resort property. Details to come later this year. The other highly significant sale was a residential record of $33.5M for Sole E Mare by our own Nina Siegenthaler. Both sales helped lead the market to a new record in 2023 of $782,412,342, slightly surpassing our previous 2021 high of $768,737,714. Another contributing factor to the high sales volume was the posting of completed new developments which are defined below and within the charts and graphs in the full report.
In the Single Family Home Sector, the completion of numerous high-end villas at Emerald Estate, South Bank and Beach Enclave North Shore, many of which transacted in 2021, along with very strong new sales at The Strand, led to a whopping 104% annual increase in dollar volume ($488M vs. $238M) and a 128% increase in average price ($3,642,014 vs. $1,590,987). Of course, the record resale of Sol E Mare sale didn’t hurt! The significantly higher average price signals a new day for luxury single-family residences attached to outstanding luxury brands. With other luxury and super-luxury villas in the pipeline and under development, along with occasional re-sales, we should continue to see this average price point hold steady and establish a new normal.
The Condominium Sector, with limited existing resale inventory, decreased by 37% in dollar volume (from $182,337,530 to $114,353,700) and in unit sales by 38% (151 to 93), with average price points remaining steady in the $1.2M range. We are, though, seeing some record $/SF sales of up to $1,500 per SF for prime re-sales, often with competing bids. It appears that condo life is again highly attractive as everyone tends to enjoy having resort amenities at their fingertips. Owners are also finding that rental returns and operational standards are excellent in this sector. We have new development launches at St. Regis, The Loren and others, along with strong pending business with ARC Sky Villas at South Bank and The Point by Grace Bay Resorts and we expect both projects to break ground in the first half of 2024, on the heels of the upcoming completion of the Reserve Villas at Rock House, the second phase of this already widely acclaimed new resort.
The Land Sector was propelled by the $88.75M sale of Cotton Bay exceeding 2022 numbers by 15% ($166,507, 799 vs. $144,375,399) with average price up 70% (from $575,241 to $979,458). Another one or two significant land parcels could potentially transact in 2024 maintaining this new normal for land sales volume. Purchasers and investors remain thirsty for all forms of vacant land, from beach and waterfront, ocean view, canal front, near beachfront, and commercial, with momentum building in activity on our out-islands such as North, Middle and South Caicos.
On a macro level, the end of 2023 signals a close to the “Covid Era”, where we have experienced unprecedented growth in the luxury tourism and real estate sectors and normalized at significantly higher levels of activity and values than ever before. Watch for our 30-year review next month as we examine the past three decades of development in the TCI and analyze data for clues to potentially forecasting future trends.
Special thanks to our valued industry and community partners. We look forward to the season ahead more immediately to our 9th Annual Art Auction for the Ed Gartland Youth Center, to be held Saturday, January 27th at The Shore Club. Please contact us if you would like tickets. We hope to see you there!
We also look forward to welcoming you to our new groundbreaking IMMERSION THEATRE ™, where all our amazing developments and properties can be viewed in virtual realty on a 9’ x 16’ wall screen. We will be providing further information on this game-changing technology later this month.
Happy New Year from all of us at Turks and Caicos Sotheby’s International Realty.
Do not hesitate to reach out to your sales professional to have a conversation about our market, and to assess purchase and selling opportunities!
Find Turks & Caicos Sotheby’s International Realty past Market Reports link here.
About Turks & Caicos Sotheby’s International Realty Turks & Caicos Sotheby’s International Realty (TCSIR) is the premier luxury real estate brokerage firm in Turks & Caicos. Boasting a profound track record and significant foothold in all market segments, particularly new development and trophy properties, TCSIR is the go-to resource for developers, investors, home-buyers and sellers in this highly sought-after destination. With strong leadership backed by the world’s greatest international luxury real estate brand, and a diverse array of international agents representing 15 countries, TCSIR is influential in both the local community as well as the greater real estate industry worldwide. The firm’s signature office is ideally located in uptown Grace Bay with satellite offices at Grace Bay Club, The Palms and Point Grace. For more information please visit http://www.turksandcaicossir.com.
Turks & Caicos Sotheby’s International Realty, Venture House, Grace Bay Road, Providenciales | info@tcsothebysrealty.com | 1.649.946.4474
An Oceanfront Pool Studio at Rock House, operated by GRACE BAY RESORTS
Sitting at the Cave Bar at Rock House, on the Turks & Caicos Islands’ main island Providenciales, it’s easy to think that you’re on an island in the Cyclades: the resort is hilltop; built into a 75 foot limestone cliff; overlooking turquoise water and surrounded by walls composed of chiseled white stones. Mark Durliat, CEO of Grace Bay Resorts, of which this resort is a part, and his wife honeymooned in Greece, apparently, and transferred the romantic ambience (and Mediterranean cuisine) they encountered there to this nearly two year old resort. And it’s working: I checked in at the same time as a newlywed couple from New York and every day other couples were lined up by the pool, in the hideaway hillside terraces and on the 130 foot jetty decked out with loungers.
Mostly, though, they were in the water. This British Overseas Territory composed of two island groups 575 miles southeast of Miami is known for its beaches, perfectly clear turquoise water and teeming underwater life courtesy of a wrap around coral reef. The marquee beach is three mile long, powdery white sand Grace Bay Beach on the island’s north coast, regularly named as one of the best in the world. Rock House’s beach is to the west of that, smaller but very private in keeping with the overall secluded tone and intimate scale of the resort—46 rooms in individual cottages with several new one-five bedroom Reserve Villas opening March 1st.
The Lagoon Villas at South Bank: Long Bay
On the other side of the island, the more residential south coast, Grace Bay Resorts has a management project on a much larger scale set to open in May. South Bank, situated on 31 acres near Long Bay, is a combination residential ownership community/resort split into different neighborhoods with varying amenities; all, however, are populated with striking contemporary architecture containing sleek interior design, top of the line appliances and uninterrupted water views over the vivid blues of the Caicos Banks.
Boat owners will likely be drawn to the section The Launch featuring 2,077 square foot two bedroom and 2,839 square foot three bedroom Boathouses along the marina waterfront, each with its own private dock that can accommodate up to a 26 foot boat. Lagoon Villas are 3,982 square foot three bedroom and 4,295 square foot four bedroom residences situated along the beach of a manmade lagoon. Ocean Estates oceanfront houses range from 3,150 square foot, three bedroom Reef Villas to 7,683 square foot, six bedroom Dune Villa beach houses. All will be privately owned with many placed in the guest rental pool. A forthcoming building ARC will debut in 2026 with 17 Sky Villas designed by famed Italian architect Piero Lissoni; these will be only owned, not rented. Other facilities open to both property owners and guests: a lagoon front spa and fitness center; a Clubhouse with a bar and restaurant; a fully equipped marina and hard courts for racquet sports.
Luxury Residences, The Strand: COOPER JACK BAY
Also on the south coast, overlooking Cooper Jack Bay 10 miles away, The Strand is another luxe community development set to combine villa ownership with guest rentals but with a difference: in one category, the two and three bedroom Villas, floors can be locked off as separate units to be rented on their own as well as the option of a complete house rental. The design is also contemporary but with natural elements providing a warm counterpoint to the modern lines: etched limestone from the Dominican Republic, European oak cabinets and millwork. There’s also a strong sustainability element: owners can opt for solar energy and there are chargers for electric cars in the house’s garage.
Houses range from two bedroom, 2,740 square foot Villas to six bedroom Estate Residences with 7,312 square feet of interior space and nearly 7,000 additional in exterior space with beach frontage on one side and canal frontage in the back for a private boat slip. Facilities and services include a spa and fitness center, tennis and pickleball courts, excursions for bone fishing and snorkeling among other water sports and a Mediterranean/Mexican restaurant. The property opens in November.
Elite High School is an exceptional institution that refuses to dwell on students’ backgrounds, legal status, economic situations and social standings. Since 2016, Elite High School has been making significant changes in the lives of hundreds of Haitian and Dominican children. Their motto, “Striving against adversity,” perfectly encapsulates this daily dedication as they aim to overcome all social barriers.
Despite limited resources and minimal support from the local government, the principal, teachers and other faculty members are tirelessly working against all odds to provide each student with a platform for a quality education.
Turks & Caicos Sotheby’s International Realty Intervention
On the 5th of June, Richard Sankar, Broker and Director of Turks & Caicos Sotheby’s International Realty attended Elite High School’s annual career day. Richard, who spoke to the entire school was moved by the sheer radiant and optimism of the students. This was the beginning of the journey_ a remarkable journey where both Richard together with Turks & Caicos Sotheby’s International Realty are commited to supporting the school so that they can be better equipped to educate their students.
The Turks & Caicos Sotheby’s International Realty successfully raised over $10,000 for the school. This collaborative endeavor marks the beginning of our meaningful relationship with the institution. If you would like to help, please feel free to contact Richard Sankar or the office. Your support will go a long way.
Richard Sankar I richard@tcsothebysrealty.com I +1 649 231 62 11
About Turks & Caicos Sotheby’s International Realty Turks & Caicos Sotheby’s International Realty (TCSIR) is the premier luxury real estate brokerage firm in Turks & Caicos. Boasting a profound track record and significant foothold in all market segments, particularly new development and trophy properties, TCSIR is the go-to resource for developers, investors, home-buyers and sellers in this highly sought-after destination. With strong leadership backed by the world’s greatest international luxury real estate brand, and a diverse array of international agents representing 15 countries, TCSIR is influential in both the local community as well as the greater real estate industry worldwide. The firm’s signature office is ideally located in uptown Grace Bay with satellite offices at Grace Bay Club, The Palms and Point Grace. For more information please visit http://www.turksandcaicossir.com.
Turks & Caicos Sotheby’s International Realty, Venture House, Grace Bay Road, Providenciales info@tcsothebysrealty.com | 1.649.946.4474
In a span of just 10 months, the Turks and Caicos Islands have welcomed over one million visitors, encompassing both air and cruise arrivals. The Ministry of Tourism recently released these statistics, and Tourism Minister Hon Josephine Connolly expressed her satisfaction with the growing influx of visitors and the enhanced offerings for tourists across the islands.
Renowned for its pristine turquoise waters, white sand beaches, world-class resorts, culinary diversity, cultural experiences, and natural beauty, often referred to as ‘Beautiful By Nature,’ the Turks and Caicos Islands continue to attract visitors seeking barefoot luxury and unique experiences.
The increased visitation serves as a testament to the destination’s appeal, prompting Minister Connolly to highlight the country’s efforts to diversify the product experience. She emphasized encouraging visitors to explore the culture, heritage, and various activities available for both day tours and overnight stays beyond Providenciales.
Long Bay Beach: The Shore Club
For the period spanning January to October 2023, the Turks and Caicos Islands witnessed 535,893 visitors arriving by air and 677,943 via cruise. Air arrivals for this period marked a 4.8 percent increase over 2022, representing 18 percent growth compared to the figures from 2019. Cruise arrivals, totaling 677,943, indicated a significant 30.5 percent increase compared to the same period in 2022.
Maintaining a consistent trend, the United States continued to be the leading source market, contributing 434,343 arrivals in the ten-month period. The Canadian market saw 35,606 arrivals, and the United Kingdom contributed 8,541 arrivals. Minister Connolly anticipates further increases from the UK and Europe with the introduction of Virgin Atlantic flights.
Stacy Cox, CEO of the Turks and Caicos Hotel and Tourism Association (TCHTA), emphasized that the growth across all source markets bodes well for the destination, especially leading into the US Thanksgiving holiday, as evident in the current week’s visitor arrivals.
Notably, esteemed travel and lifestyle publications such as Travel + Leisure and Conde Nast Traveler have listed the Turks and Caicos Islands among the must-visit destinations for 2024. This recognition further supports the expectation of surpassing visitation figures from both 2019 and 2022.
While most market followers focus on Closed transactions when evaluating real estate markets, brokers, consultants, and developers take an even closer look at Conditional and Pending transactions. Conditional transactions are Accepted Offers not yet Under Contract (Pendings) and both are really a harbinger of things to come.
Quarter 3 (usually our slowest quarter) outperformed expectations and further indicates that we are increasingly a year-round market and less of a seasonal market insofar as real estate activity is concerned. Led by Single Family performance, Conditional dollar volume is up a whopping 443.65% Q3 2023 over Q3 2022 ($124,223,600) vs. ($22,850,000). Pending transactions are up 8.13% ($136,524,800 vs. $126,257,357).
This sharp rise is a real eye-opener during our typically slowest quarter, so let’s examine why: Many of these Conditional transactions are on the strength of our New Development projects led by Arc, South Bank, The Strand, The Loren, with The Point by Grace Bay Resorts and St. Regis soon to be substantially adding to the mix when their listings officially come to market. So, we should continue to see substantial rises in our Conditional Sales as our big projects pre-sell and start construction in 2024, with the Hyatt Andaz just breaking ground. This leads to our biggest differentiator in times of scarcity of (existing) inventory, and that is our awesome New Development pipeline, which promulgates our sustainable growth and satisfies a market hungry for luxury properties in TCI.
Regarding Closed transactions across all segments of the TCI market, our Q3, Y.T.D. numbers are up 10% over 2022 ($526,828,182 vs. $475,699,009), with Average prices up 49.76% ($1,572,621 vs. $1,050,009) and up 130% in the Single–Family segment ($3,492,489 vs. $1,492,127)! This is another “wow” moment and can be best explained next time you take a ride over to South Bank, The Strand, Peninsula Estate, Beach Enclave North Shore Ph 2 and others and see so many gorgeous new villas either just completed or nearing completion which have contributed to the closed numbers.
With strong demand and very scarce existing condo inventory, this aspect of the market continues to struggle (sales volume down 43.62% Y.T.D.), as there is very little re-sale activity and owners are holding on with a tight grip. When we do see quality re-sales come up, they sell quite quickly and often at record numbers. Two recent Shore Club sales are illustrative, as they each sold for over 25% higher than prior markers. However, as discussed above, these numbers should normalize as our new projects reach critical mass and start the construction and completion cycles.
As we continue to shepherd our new projects and succeed in all aspects of the market, we look forward to welcoming you back as we approach the holidays, and…introducing you to the Future of Real Estate in November.
Find Turks & Caicos Sotheby’s International Realty past Market Reports link here.
About Turks & Caicos Sotheby’s International Realty Turks & Caicos Sotheby’s International Realty (TCSIR) is the premier luxury real estate brokerage firm in Turks & Caicos. Boasting a profound track record and significant foothold in all market segments, particularly new development and trophy properties, TCSIR is the go-to resource for developers, investors, home-buyers and sellers in this highly sought-after destination. With strong leadership backed by the world’s greatest international luxury real estate brand, and a diverse array of international agents representing 15 countries, TCSIR is influential in both the local community as well as the greater real estate industry worldwide. The firm’s signature office is ideally located in uptown Grace Bay with satellite offices at Grace Bay Club, The Palms and Point Grace. For more information please visit http://www.turksandcaicossir.com.
Turks & Caicos Sotheby’s International Realty, Venture House, Grace Bay Road, Providenciales | info@tcsothebysrealty.com | 1.649.946.4474
Turtle Tail, Providenciales, Turks and Caicos Islands
Real Estate investment historically has proven to be a very profitable venture in the Caribbean and particularly in the Turks and Caicos Islands.
Profitability can be realized through the generation of rental income, providing a positive cashflow or when selling an appreciated property at a profit. Whether you are a savvy venture capitalist or a discerning individual investor, real estate is a smart way to diversify your investment portfolio. However, identifying the ideal investment property and the right investment model, long term versus short term, are key factors when making a real estate investment decision.
Why investing in the Turks and Caicos Islands?
There are several benefits for investing in the Turks and Caicos Islands. The islands offer a unique combination of some of the world’s most beautiful waters, a diverse and intimate group of islands and cays, a historically low tax environment, high quality properties and wonderful accessibility from the United States and Canada, as well as one-stop flights from London. Here are some investment and lifestyle benefits:
No Income Taxes on revenue generated from property
Steady increase over the past decade and is a top destination for travelers with many repeat visitors
Read more on the Turks & Caicos Sotheby’s International Realty latest Buyer’s Guide.
Active land listing on Providenciales
Providenciales is the most well-known of the Turks and Caicos Islands and is at the heart of economic activity, with a wide range of businesses as well as world class hotels, restaurants, retail outlets, golf, tennis and other sports facilities. The island offers residents, businesses and investors state of the art technological services, cable television, high speed internet as well as banks, legal and accounting firms and off-shore finance specialists. The national parks, secluded beaches, marinas and typical Caribbean settlements offer alternative tourism and other business opportunities in addition to the world-famous Grace Bay, seat of most of the tourism infrastructure. We’ve narrowed down six active listings for you. Please see below.
Prime Grace Bay Beachfront
Representing the only beachfront land available on the entire stretch of Grace Bay beach for private villa or hotel and tourism development, this nearly 3 acre-site boasts best-in-class pristine beachfront. With the surrounding precedents of single family residences, it is ideally slated for a low-density tourism related opportunity. There is no other land offering on the entire northern shore of Providenciales like this! Surrounded by high-end luxury residences and walking distance to Turtle Cove to the west and Wymara and West Bay Club and Grace Bay hotels and restaurants to the east. Full listing here.
2.9 Acres
286 Ft Ocean Frontage
$19.5M
Turtle Tail Beachfront
Turtle Tail Beachfront Introducing a rare opportunity to own a beachfront paradise in the coveted Turtle Tail, Turks & Caicos. Embrace the breathtaking vistas of the Caribbean Sea from your doorstep and create your dream haven on this pristine canvas. With direct access to the powdery white sands and crystalline waters, indulge in a lifestyle of tranquility and luxury. This exclusive beachfront gem presents an unrivaled chance to experience the best of island living in one of the world’s most sought-after destinations. Full listing here.
0.77 Acres
110 Ft Ocean Frontage
$2.1M
Elevated Turtle Tail Oceanfront Lot
Discover the majestic shoreline of Ocean Drive within this prestigious and exclusive Turtle Tail neighborhood. Elevations are over 40’ of elevation. Lot 58 is a rare and generously sized 1.11 acres, with magnificent 145’ of linear ocean frontage. Surrounded by significant homes and embracing jaw-dropping views of the southern shoreline and endless Caicos banks at all times of day, the site is slated for an exquisite home and site with ample opportunity to create one’s idyllic island lifestyle. Full listing here.
1.11 Acres
145 Ft Frontage
$2.33M
Turtle Tail Oceanfront
This coveted location provides commanding vistas of the resplendent turquoise waters spanning the Caicos Banks. The area has become a focal point of burgeoning demand and escalating value as discerning purchasers actively vie for opulent assets within this prized setting. Noteworthy is that the most substantial estate transaction within the vicinity has already exceeded the benchmark of $20 million. Full listing here.
0.83 Acres
160 Ft Frontage
$1.6M
Leeward Canal Font
Canal front land with expansive frontage located in the prestigious Leeward Development. Close to school, shopping, golf course, restaurants, grocery and Grace Bay. All utilities to lot line. Leeward Gardens host to 56 canal lots. Excellent for the boating enthusiasts. Full listing here.
0.61 Acres
200 Ft Frontage
1.59M
Long Bay Hills Oceanview
This beautiful ocean view lot located in Long Bay is a short distance to Long Bay Beach, neighboring multi-million dollar villas and the new Southbank development and marina. With its low-density residential zoning and high-end residential character this lot would be the perfect site for you to build your own peaceful oasis or a luxurious vacation rental, just a short drive to all amenities in Grace Bay including shopping, professional services, supermarket, banks, watersports, and an array of 5 star and casual dining restaurants. Full listing here.
3.1 Acres
Oceanview
$1.25M
Invest Turks and Caicos is dedicated to providing free and confidential advice and support, including: information on the local business climate; facilitating the investment process through liaison with key Government Departments; advice on Government incentives and concessions to investors; introductions to local service providers/suppliers; advice on immigration matters, including permanent residence certificates; and specific ongoing support following the set up of a business. Find out more on www.investturksandcaicos.tc
Click on the video above to watch the latest construction update
Turks & Caicos Sotheby’s International Realty is once again delighted to bring you the latest construction updates for The Strand. The four months since our last construction update marked a significant journey with the completion of the first Luxury Residence, others nearing completion and palpable excitement surrounding the commencement of the beach and groin works.
The unique essence of The Strand has always been its unparalleled location, design and of course, quality. An authentic architectural marvel, The Strand elegantly boasts a geometric design that seamlessly blurs the boundaries between indoor and outdoor living spaces. This design philosophy harmonizes flawlessly with old world craftsmanship, creating an environment where sophisticated luxury is ever-present. Rising from the beautiful Copper Jack, The Strand is reshaping the coastline as it brings forth a new paradigm of beachfront living.
Prioritizing a commitment to quality sometimes means taking extra time to ensure every intricate detail meets our high standards. In the end, the outcome is nothing short of spectacular, as John Fair, the esteemed Managing Director, Developer & Project Manager remarked, “The completed R3 Luxury Residence is one of the finest homes I have ever been a part of.”
Despite labor demands and supply chain challenges, delays have been kept under control and minimized, Broker Richard Sankar revealed. “The project is progressing smoothly and is in line with the projected plan,” adds President Joe Zahm. “John and his team have been laser focused since the outset, and have been undeterred by COVID delays and other obstacles as they march towards completion with will and skill,” Joe completed.
About Turks & Caicos Sotheby’s International Realty
Turks & Caicos Sotheby’s International Realty is the premier luxury real estate brokerage firm in Turks and Caicos. Boasting a profound track record and significant foothold in all market segments, particularly new development and trophy properties, the firm is the go-to resource for developers, investors, homebuyers and sellers in this highly sought-after destination. With strong leadership backed by the world’s greatest international luxury real estate brand, and a diverse array of international agents representing 15 countries, Turks and Caicos Sotheby’s International Realty is influential in both the local community as well as the greater real estate industry worldwide. The firm’s signature office is ideally located in uptown Grace Bay with satellite offices at Grace Bay Club, The Palms and Point Grace. For more information please visit www.turksandcaicossir.com.
The month of August in the Turks and Caicos Islands holds cultural significance for two reasons. We celebrate Emancipation Day, the official end and liberation of slavery throughout the Caribbean, and it also marks another reason to celebrate – the arrival of the lobster season for the important fishery trades.
The Turks and Caicos Island Government announced on July the 26th that the opening of The Lobster Season would commence on Monday, August 1st 2023 through the 31 March, 2024.
Fishermen, restaurants, tourists and the local community at large can now look towards an exciting seven months with this fine local delicatessen being back on the menu.
South Caicos, being the lobster capital of Turks and Caicos rejoices each year for the new lobster season, for local fishermen throughout this sleepy island can now catch, process and export spiny lobster at last.
The official name for the local lobster is Panulirus argus. It is also sometimes referred to as rock lobster and sea crayfish. Spiny lobster differs from its northern cousin, Maine lobster, in two ways. First, the meat is only edible in the tail of a spiny lobster, whereas the meat is edible in Maine lobster in the claws, body and tail. Secondly, the spiny lobster meat tends to be coarse and dry in comparison to Maine lobster meat. Despite the contrast in texture, a South Caicos lobster on the open flame, is sure to produce a wonderful grill lobster.
Most South Caicos lobster is harvested from the East Harbour Lobster and Conch Reserve, located near the coastline of East Bay Resort. Lobster is caught by trapping and hooking. Trapping involves use of lobster traps, whereas hooking is done by free diving (holding breath while diving). Free divers will use snorkel gear and a three foot long pole with a barbed hook end. Experienced divers will typically catch three lobsters per dive. Catching lobster by free diving can be risky, as spiny lobsters have long, stiff antennae over their eyes which can inflict serious wounds, as can their tails.
It is estimated that up to 75% of the South Caicos population is employed in the fishing industry. The opening of lobster season is known locally as, “The Big Grab”, when 30% to 40% of the lobster harvested for the entire season is caught. If having an abundant supply of fresh South Caicos lobster on your vacation is important, it is best to visit South Caicos at the start of lobster season in Turks and Caicos.
The local government instills strict rules and regulations to maintain the longevity of the indigenous lobster. The Department of Marine Fisheries and Resource Management appeals to citizens, residents and visitors in the Turks & Caicos Islands, to familiarize themselves with and to uphold the Fisheries Regulations, and urges all responsible citizens to report any violations.
The Turks & Caicos Sotheby’s International Realty wishes you a lovely 2023 lobster season.
Turks & Caicos Real Estate | Caribbean 