Turks & Caicos Real Estate Development Reports Record Sales

The Shore Club Turks and Caicos, the newest luxury resort now under construction on Providenciales, enjoyed record sales for first quarter 2015.

Hartling Group CEO and Shore Club developer Stan Hartling reported that approximately $12 million in condo sales and $11 million in villa reservations were achieved at his third beachfront resort project, which is located on Long Bay beach.

“With construction on schedule to deliver condos to owners by the end of 2015, and Turks & Caicos enjoying a banner year in terms of the performance of its tourism industry and general economy, it’s not surprising to see the heightened interest in Turks and Caicos real estate.  We’re in a great position to respond to this surge in market demand, as we have the only new beach condos currently under construction in the market, and the only luxury beach villas that are part of a full service resort.”

Hartling points out that the project’s official broker, Turks & Caicos Sotheby’s International Realty, is also reporting positive first quarter results for Providenciales.  “TCSIR recently released their first quarter report for 2015 which states that the luxury segment continues to lead market performance and condos are representing 40% of market volume sales.  2015 is currently on track to exceed 2014’s $210 million in closed transactions.  This level of sales is quite incredible for a destination of this size.”

In addition to the improved performance of the global economy, Hartling suggests that the boost in sales can be attributed to the numerous awards and accolades that have been bestowed on Turks and Caicos this year, which is in turn generating more awareness of the destination with prospective buyers. “It certainly helps the sales process when you can state that Providenciales was recently voted the #1 island in the world by TripAdvisor, and that our very own Long Bay beach was recognized by Conde Nast Traveler readers as one of the top 10 island beaches in the world.” People come to see if the destination warrants the accolades…and then of course they get here and find out the answer is a resounding yes!”

While the accolades attract prospective Turks and Caicos real estate buyers to Providenciales, the concept for the Shore Club is what ultimately closes the sale. “We have created something very special here at The Shore Club,” states Hartling. “Our project offers the privileges that go with owning a luxury vacation home offshore, with the convenience of condo living.  Our owners will be able to enjoy an incredible lifestyle at our low-density resort on Long Bay, and when they are not in residence, we’ll place their condo in a rental program.  Our project also qualifies for those seeking to apply for a permanent residence certificate.  The Shore Club really does provide an intelligent solution for those buyers seeking a secure real estate purchase in the Caribbean.”

In addition to real estate buyers, the vision for The Shore Club also appealed to Decco, a privately owned company based in the Cayman Islands that is part of the Dart group of companies.

Decco is providing construction financing and management for the Shore Club. It is the first project in which they have been involved in Turks & Caicos Islands. Examples of projects completed by Decco in Cayman Islands include Camana Bay, a 600-acre master planned community developed following the principles of New Urbanism with 600,000 square feet of office, retail, restaurant, residential and educational space.

The Shore Club is a nine acre resort development located on 820 feet of Long Bay beach.  The first commercial project to be constructed on the 2.5 mile stretch of otherwise undeveloped shoreline, the $100 million project is now under construction and scheduled for occupancy by the end of 2015.  Once completed, the resort will feature 38 condos in two low rise buildings, six luxury beach villas, three swimming pools, dining and retail outlets, a spa, and tennis courts.  Prices start from $1.65 million for condos and $5.5 million for villas.

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