The Residence at Secret Bay
IMI Official Partner
The Residences at Secret Bay, Dominica’s crown jewel development and only six-star, all-villa resort, reports it has paid US $1.5 million in returns to investors and surpassed 150 investors. The globally-recognised Citizenship by Investment (CBI) project, which is part of the award-winning resort Secret Bay, also released year-over-year results between the period of the first quarter of 2022 and the first quarter of 2023.
During this period, The Residences has outperformed expectations related to CBI investor growth, return on investment payout, total sales, ADR, occupancy rate, and resort employee growth. Additionally, the team delivered on-scheduled new villas and new amenities. This success cements Secret Bay as the gold standard when it comes to CBI real estate investment opportunities.
Year-over-year growth successes include:
- Between the period of the first quarter of 2022 and the first quarter of 2023, The Residences at Secret Bay grew from 86 CBI investors to 159. A nearly 85% increase.
- Between the first quarter of 2022 and the first quarter of 2023, The Residences at Secret Bay’s operating occupancy rate jumped from an average of 80% to 91%.
- Between the first quarter of 2022 and the first quarter of 2023, the Average Daily Rate (ADR) moved up from $1,117 to over $1,196.
- The Residences at Secret Bay is the only CBI project in the entire Caribbean region paying a consistent return on investment to its investors. From the fourth quarter of 2019 to the second quarter of 2023 the total US Dollar amount was over US $1.5 Million.
- From the fourth quarter of 2019 to the second quarter of 2023, the average ROI percent paid out was 3% and 4% when adjusted for operating days.
- From the first quarter of 2022 to the first quarter of 2023 the number of employees grew from 91 to 110, a 21% increase.
“The underlying value of Secret Bay from a real estate and resort perspective is further confirmed by these year-over-year results,” said Gregor Nassief, proprietor of Secret Bay and The Residences at Secret Bay, and CEO of GEMS Holdings Limited.
“We’re truly grateful to our investors, and appreciate the commitment of our resort management and development team that have allowed Secret Bay to continue to achieve this level of performance and growth. We are hopeful and excited about the future and will continue to focus on the long term success of the business.”
In addition to having extraordinary performance and growth over the past five years, this year Secret Bay is also unveiling an array of new amenities, including a hillside funicular, garden-to-fork chef’s table experience, elevated decks, art gallery and a kombucha brewery.
The new villas, Clifftop enclave, and amenities are being introduced as part of the award-winning resorts’ multi-year master plan. This evolution – spread over 40+ acres of coastal land – allows for an array of new amenities, more private villas and the for-sale residence program, all while lowering the resort’s overall density and granting guests the utmost in the luxury of time and space.
Last month, The Residences at Secret Bay was named the #1 Resort in the Caribbean, Bermuda and the Bahamas in Travel + Leisure’s 2023 ‘World’s Best Awards,’ as well as the #25 hotel in the world in the publication’s ‘100 Favorite Hotels.’ This is the third time in four years the region’s leading resort that offers a coveted CBI real estate investment opportunity tops the list.
Further, Secret Bay has been consistently recognised not only for its impressive offering, but its most coveted amenity — second citizenship — by such global travel and lifestyle publications as Architectural Digest,Departures, Luxury Magazine, New York Post, Ocean Home Magazine, Robb Report, Wall Street Journal and Wealth Magazine, among others. The property is the first and only property in Dominica to be affiliated with the elite luxury brand, Relais & Châteaux.
Whole ownership at The Residences starts at US $1.39 million. Fractional ownership is also available, starting at US $212k. Both ownership models have the option to include Citizenship by Investment. To learn more about The Residences at Secret Bay, please email email@example.com.