Turks and Caicos signs development agreement for new multi-million dollar resort in Grace Bay
A development agreement has been signed by the Turks and Caicos Islands government and Desarrollos Hotel Group for the construction of a brand new $224 million hotel, resort, casino and spa complex in Turks and Caicos. The resort will be situated the famous Grace Bay beach on the island of Providenciales and work is expected to commence this November.
Desarrollos Hotel Group and the Turks and Caicos Islands government have signed a development agreement to build a brand new multi-million dollar resort.
The $224 million hotel, resort, casino and spa will be built in Grace Bay on the island of Providenciales and it will be managed by Ritz-Carlton Hotels Company.
Dr. Rufus Ewing, the Premier of Turks and Caicos, said of the new ambitious project:
"This European Plan style hotel development provides a welcome diversification to the TCI tourism sector as it is more of a traditional hotel, rather than the previously prevalent condominium model in the TCI,”
“At the same time, it further develops the luxury tourism offering in this destination with the addition of such an important luxury brand in Ritz Carlton."
The luxury resort will have 124 hotel guest rooms, penthouses, resort residences, and an array of luxury facilities including a lavish spa and a casino.
The Turks and Caicos government said construction work was expected to start this November and the project will take approximately three years to complete.
The Desarrollos Hotel Group has experience in developing luxury hotels in the Caribbean, and one of its most recent properties includes the Ritz-Carlton Aruba. The company also own owns four Marriott hotels in the Caribbean.
Turks and Caicos is a twin-island nation located in the West Indies, north of the Dominican Republic and Haiti and to the southeast of The Bahamas.
The Caribbean country has 40 islands and cays, of which only eight are inhabited, and these are all positioned just 90 minutes from Miami in the United States.
The tropical island of Providenciales is the most developed in the Turks and Caicos archipelago. It spans 38 miles and is home to stunning natural landscapes including the famous beautiful Grace Bay beach; the naturally-formed limestone opening called The Hole, and Chalk Sound; a long coral reef, which is thriving with marine species; and a large lake with cobalt water and a collection of small cays.
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