Update: Phase 1 Nears Sellout, CBI Investor ROI Payments Continue and New Villas to be Completed this November
The coronavirus pandemic has slowed many aspects of the real estate market, globally, except for real estate opportunities connected to Citizenship by Investment programmes.
The Residences at Secret Bay — Dominica’s acclaimed six-star all villa resort — has seen sales grow amid COVID-19 and now reports that only a few shares remain in its Phase 1 launch. Initial investors, which include buyers from across the Middle East, North Africa, Asia and North America, who obtained citizenship through purchasing built villas at The Residences at Secret Bay, were recently presented with their second return on investment checks.
“Prior to the global pandemic, and now even more so, we continue to see interest from astute investors who understand the value of investing in a development with ready product, a proven operating and financial performance and a competitive exit strategy with a robust market for resale,” said Gregor Nassief, proprietor of Secret Bay and Chairman and CEO of GEMS Holdings Limited. “We’re also hearing from buyers the desire for freestanding residences each with their own parcel of land offering seclusion and privacy, like what Secret Bay offers, over the traditional clustered hotel room structures with shared amenities and public spaces.”
With Phase 1 nearly sold out, Secret Bay is now poised for Phase 2 and reports that construction is nearing completion on four new Hillside Ti-Fèy Villas, which are expected to be completed this November 2020. Unique to these new Ti-Fey VIllas, and all offerings at Secret Bay, is that each villa is freestanding and not the traditional multi-room hotel structure. They are architectural masterpieces perched on a hillside overlooking the sweeping sea, mountain and rainforest views. The two-story design with a private plunge pool, an outdoor rain shower cantilevered off the second floor, floor-to-ceiling glass walls, gourmet kitchens and every modern amenity one could desire. With one-bedroom and two-bathrooms set amidst 1,356 square feet of seamless indoor-outdoor living space, these villas offer the idyllic retreat for quiet contemplation and total relaxation.
“Built product and proven returns have led to Secret Bay’s success and these four new villas are sure to be in high demand,” shares Nassief.
In other news, Secret Bay’s parent company, GEMs Holdings Limited, along with Secret Bay’s Executive Chef Grant Lynott, recently completed “Koudmen Kitchen,” a program launched in April designed to supply COVID-19 frontline workers and healthcare professionals with 50 no-cost meals a day at four locations across the island. Over the course of 30 days they provided more than 1,454 meals to critical COVID-19 professionals.
Chef Grant and Secret Bay were recently featured in Forbes for being a leader in environmentally regenerative gastronomy. The article points out: “As Dominica works to become the world’s first climate resilient nation through renewable energy, organic agriculture and sustainable infrastructure, Secret Bay is doing its part to innovate and support government initiatives while also creating its own sustainable ecosystem.”
This recognition comes on the heels of additional global attention, including: Architectural Digest, Brides, Cosmopolitan, CNN, Fortune, National Geographic, Outside, the cover of Travel + Leisure, The Telegraph and many more, garnering six billion impressions.
The Residences at Secret Bay is the only government-approved real estate project in Dominica offering purchase options to both vacation home buyers and citizenship investors. With strong demand for ownership by vacation home buyers, The Residences at Secret Bay grants citizenship investors unmatched access to the vacation home market for resale.