Our Community Star!! Bianca Harvey-Joseph aka “Queen B” received much deserved recognition at this year’s Humanitarian Awards dinner, held at The Shore Club, for her outstanding contribution in the community of Providenciales. . Congratulations Queen B! You are an incredible role model for everyone and generous supporter of all those in need!
Pictured here with Manfred Smith, friend, supporter, co-worker, and real estate advisor with our office. @turksandcaicossir
Congratulations to all Humanitarian Award recipients and those individuals who may not have been recognized – you brighten the lives of all those you have touched!
The annual awards gala, hosted by the TCI Human Rights Commission, is in its fifth year.
The Turks and Caicos Hotel and Tourism Association – Mission Statement:
Through involvement and cooperation with our Tourism partners the Turks and Caicos Hotel and Tourism Association (TCHTA) is dedicated to the achievement of sustainable growth in Tourism for the benefit of its members and the wider community, while protecting and enhancing the unique character and environment of the Turks and Caicos Islands.
Turks & Caicos Sotheby’s International Realty is proud to be a member of the TCHTA since it’s inception with our President Joe Zahm one of the founding members. The TCI has a strong and resilient island community with an inviting landscape and inviting people. We look forward to welcoming you to our beautiful by nature islands.
2022 Turks and Caicos Real Estate – 3rd Quarter Year-To-Date Comparison
With the exception of 2021, the 3rd Quarter is historically our quietest quarter due to the back-to-school and hurricane seasons, to be followed by a significant uptick in 4th Quarter as we gear up for our busy season. As such, Q3 2022 is proving to be more in line with previous years’ activity and still in line with pre–covid peaks.
As illustrated in this report, real estate sales are still holding steady alongside an exceptional 2021. For this 3rd Quarter 2022, the overall graph has been broken down into sales volume by quarter for each of the past four years, indicating the ebb and flow of volume through each quarter. Pending deals that are slated to close out at year-end 2022 currently place the real estate market 38% ahead of 2019 year-end sales volume which was a record year itself. Considering the pending sales on the MLS, projected 2022 year-end sales volume will be very close to $500M and represents another record year in the making.
Within the 2nd Quarter report, we mentioned that several developers have exciting projects on the forefront which will be launched very soon that will help bridge the gap to sustain our market’s decade-long momentum. We are happy to present these new developments in the pages of our report which include a mix of pre-construction offerings. New Development is essential in real estate and we are entering a new wave of extremely high-quality projects from legacy developers, including ARC and NIVA from Windward Developments (Blue Cay, South Bank), a re-imagined Villas at Blue Mountain by Hartling Group, and the soon-to-be announced Grace Bay Resorts project next door to Point Grace.
On the community front: The “Footsteps 4 Good” Charitable Event kicked off on October 21st. The event is a 224-mile circumnavigation of the beautiful by nature Turks and Caicos Islands over 13 days, touching 24 islands and cays. The water wading, swimming, walking, running, biking, kayaking and rowing island-hopping charitable event is hosted under the patronage of Mrs. Mandy Dakin, wife of His Excellency Governor Nigel Dakin. The charitable event was started by Jill Beckingham, wife of previous governor, Peter Beckingham. Mandy Dakin promised to restart the venture but with an ambitious twist covering the full length of the Islands: Providenciales through to North, Middle, East and South Caicos, then crossing to Grand Turk, Salt Cay, and finally completing the circle back to Providenciales via Sand Cay, Ambergris Cay, French Cay, and West Caicos. “The event builds on community spirit. United we are all stronger and can achieve amazing results. Not everyone is a marathon runner, but everyone knows how to walk. What could be better, raising money for our favourite charities whilst improving our health and fitness.” Stated Mandy Dakin in a recent article on The SunTCI. For more detail link to The Sun TCI News article here. You can also follow the progress of this amazing journey on Instragram @footsteps4goodtci
We are thankful as always for the support of our clients and community and look forward to welcoming you to our shores this fall and festive season.
Download the full report with one of the links below.
Footsteps 4 Good, the water wading, swimming, walking, running, biking, kayaking and rowing island-hopping charitable event hosted under the patronage of Mrs. Mandy Dakin, wife of His Excellency Governor Nigel Dakin, is set to take place beginning October 21st, 2022.
Footsteps4Good is a 224-mile circumnavigation of the beautiful by nature Turks and Caicos Islands over 13 days, touching 24 islands and cays.
The charitable event was started by Jill Beckingham, wife of previous governor, Peter Beckingham. Mandy Dakin told The SUN after meeting Jill in 2019, she promised to restart the venture but with an ambitious twist.
“After meeting Jill in 2019, I promised to restart the venture but with an ambitious twist. John Galleymore #OneTCI, a seasoned explorer of the Turks and Caicos Islands who has a wealth of experience and adventures walking, rowing, and camping throughout the islands, mapped a challenging route to allow everyone and anyone to participate in this fantastic opportunity to do as much or little as they wish. The trip covers the full length of the Caicos Islands: Providenciales through to North, Middle, East and South Caicos, then crossing to Grand Turk, Salt Cay, and finally completing the circle back to Providenciales via Sand, Ambergris, French Cays, and West Caicos,” she said.
Community walks will be taking place on all of the family islands and persons are asked to come out in full force.
Mandy Dakin said she is so excited to host this year’s event, adding that it could not be done without the help of all of their partners.
“I am really excited and without the help of our partners the Provo Roadrunners, the Red Cross and Interhealth Canada it would not be so easy. So many people have made this event possible. The district commissioners on every island have been tirelessly organising, sponsors have come forward to help with every aspect of the event and of course our police and ambulance service are always on standby to keep us safe. I can’t wait to get going and see how many adults and children will join us on our walk and row through the islands and remember you can do as much or as little as you wish,” she added.
“However, I know what is coming and I know it is going to be gruelling. I remember the blisters on my feet, on my hands and the hours of walking in sand and heat and the sea not always playing ball as we tried to row from island to island. Whilst those memories play out in my mind I do remember the amazing community spirit and support, the opportunity to see nature in all its glory from the sun rising to the sun setting and that is unforgettable. Myself, John Galleymore and Sharon Weil Hornstien will walk the islands being supported along the way by the communities.”
Asked why it is so important to host an event such as this, Dakin said she believes that charity starts at home, and it is important to put others less fortunate, first.
“So if you can spare $1 to help that’s a good thing. We also live in the most beautiful and diverse group of islands where nature is abundant and so many of us have never experienced more than one or two of the islands. It is an opportunity to highlight our, history and environment.”
Dakin said not everyone is a marathon runner, but everyone knows how to walk and that’s a start.
“The event builds on community spirit. United we are all stronger and can achieve amazing results. Not everyone is a marathon runner, but everyone knows how to walk. What could be better, raising money for our favourite charities whilst improving our health and fitness.”
Dakin said last year through everyone’s generosity they managed to raise $47,000 and this year they want to smash that total.
“Entry is $20 to the over 18’s and includes a t-shirt (whilst stocks last), If you prefer to make a donation try the Isle Help App and find Footsteps 4 Good any large donations email fs4gevent@gmail.com and find out how,” she said.
Footsteps 4 Good aims to raise much-needed funds for over 30 local charities focused on the vulnerable and hungry; chronic illness; youth development and empowerment; environment, heritage, special needs and animal welfare.
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.
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.
Climate Change Message from the Turks & Caicos Islands Minister of Tourism, Hon. Josephine Connolly. Spotlight Productions captured the Minister of Tourism’s Climate Change message leading up to the Turks & Caicos Islands’ first Climate Change Summit.
The Climate Change Summit, entitled “Only One Earth – Invest In Our Planet”, was a full day event with guest speakers and information presented as TCI Government Officials, visiting nations such as Bermuda and BVI and community members were in attendance. During the summit, the signing of the TCI Climate Change Charter took place which involved the Minister of Tourism, Hon. Josephine Connolly, and representatives from Fortis, The Reef Fund, TCIHTA and Provo Water Company. As a nation we are proud to see the private and public sectors come together to take action with this roadmap as a guide to help protect and safeguard our environmental assets.
The Edward Gartland Youth Centre hosts its 7th Evening of Art. A star studded charity art auction featuring highly talented local and international artist. Event will take place 2nd April 2022 at The Shore Club Resort. Join us for an unforgettable night of art and entertainment in collaboration with our sponsors: •The Shore Club •Turks & Caicos Sotheby’s International Realty •The Wine Cellar •Finishing Touch
All proceeds to benefit the Edward Gartland Youth Centre. Open bar, canapes, food stations, & live entertainment included! 𝗚𝗲𝘁 𝘆𝗼𝘂𝗿 𝘁𝗶𝗰𝗸𝗲𝘁𝘀 𝘁𝗼𝗱𝗮𝘆 𝗮𝘁 𝘁𝗵𝗲 𝗳𝗼𝗹𝗹𝗼𝘄𝗶𝗻𝗴 𝗹𝗼𝗰𝗮𝘁𝗶𝗼𝗻𝘀 Edward Gartland Youth Centre •The Wine Cellar •Turks & Caicos Sotheby’s International Realty •Unicorn Bookstore • Isle Help App
Saturday, April 2nd, 2022 – 7 to 10:30 p.m.
The Shore Club, Long Bay
With our very own
Bianca Harvey-Joseph aka Queen Bee
Auctioneer for the event!
Special Guest
Anne Scardino, Author of “A Tangled Affair”, From Philadelphia to Turks & Caicos. A fiction novel filled with suspense and intrigue. Copies for sale at the event with all proceeds to benefit the EGYC. Thank you Anne and to all of the Artists for sharing your passion by donating your valued time, talent and effort to this worthy cause. Enjoy the ‘Meet the Artists’ video above!
International Artist, Bradley Theodore
On the LIVE Auction will be Bradley’s most recent collaboration. The LEGO Dots campaign, a limited edition series of bottles for HAIG Whisky and David Beckham. Thank you Bradley!!
Turks & Caicos Real Estate | Caribbean 