Where When How — May/June 2017
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Real Estate & Development The Real Estate Market Waterfront Playground

THE TURKS & CAICOS ISLANDS OFFER A UNIQUE

combination of some of the world’s most beautiful waters, and a diverse and intimate group of islands and cays. The islands are as diverse as its people, from the cosmopolitan centre of Providenciales to the quiet, tranquil, sleepy islands of north and Middle Caicos, south Caicos and salt Cay, and the historic capital of TCI, Grand Turk. Each of the Turks and Caicos Islands has a unique character offering a different experience, but year round they all offer great weather, beautiful beaches and an abundance of watersport activities. Everywhere you travel within the islands benefits from proximity the waterfront, whether it be beachfront, dramatic iron-shore, or traversing through mangroves on a paddle board or kayak.

After astronaut John Glen landed in TCI waters near Grand Turk in 1962, development soon followed in 1966, with the construction of an airstrip, roadways and the historic Third Turtle Inn in Providenciales. Each decade has brought a new dimension to the Turks and Caicos, with the snowball effect driving growth and development. The 1980s and 90s brought an array of infrastructure, including the financial district, utility companies, small hotels and inns, the first condominium projects, daily service from Miami on American Airlines, and the country’s only golf club, Provo Golf Club. At the start of the 2nd millennium the Turks & Caicos Real Estate Association (TCREA) was formed. In addition, the decade brought an astounding 13 new condominium developments to the Grace Bay waterfront, which opened the doors for tourism including increased air service from multiple destinations. In 2009 real estate development took a brief pause and infrastructure and utility upgrades were implemented to keep up with the demand.

Over the past five years the resilient Turks & Caicos real estate market, and tourism, has seen steady growth. The cre-ation of managed villa communities was a result of villa rental demand, marking a shift to low-density development. Managed villa communities are emerging throughout the islands with developers taking the waterfront landscape and producing effectual site-plans to make the most of the acreage, while providing private homes with shared waterfront. The Residences and The Dunes by Grace Bay Resorts, Beach Enclave North Shore, Sailrock Resort in South Caicos, as well as Sunset Beach Villas, have all been fully completed. Managed villas operate within their rental management programs. Managed villa developments under construction, include Beach Enclave Long Bay, Gansevoort Villas, The Shore Club Villas and Blue Cay Estate, which will be managed by Grace Bay Resorts. Pre-construction offerings are available for Beach Enclave Grace Bay, and the newly introduced Rock House by Grace Bay Resorts.

The friendly people of the Turks & Caicos Islands fused with the laidback Caribbean lifestyle, plays a large part in the return of loyal guests. Our community spirit welcomes everyone with open arms, from sport professionals to culinary professionals and artists, who graciously share their knowledge and valuable time to enhance and educate our children. Festivals, fundraisers, workshop seminars and other events are examples of contributions to the community occurring throughout the year. Local companies regularly fund charities and support the many sports, cultural and educational facilities throughout the islands.

The growth and development of our waterfront playground is not just about landscape and structural changes, but growth of both the people and community. Living in the Turks & Caicos Islands is a superb lifestyle that anyone can enjoy, whether it’s for a seasonal adventure or short term holiday. TCI is easier than ever before to get to, with flights operating from a multitude of destinations including Miami, Ft. Lauderdale, Atlanta, NYC, Chicago and London (see page 18 for full flight details).

Article provided by: Turks & Caicos Sotheby’s
International Realty
Venture House, Grace Bay Road,
Providenciales
t. 649.946.4474 f. 649.946.4433
turksandcaicosSIR.com
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