The Residences at Secret Bay
Sponsor
The Residences at Secret Bay, the crown jewel development and only six-star, all-villa resort in Dominica, reports it has paid out US $2.7 million in returns to more than 185 global investors.
The internationally recognized Citizenship by Investment (CBI) project, which is part of the award-winning resort Secret Bay, also released year-over-year results between the first quarter of 2023 and the first quarter of 2024.
During this period, The Residences has outperformed expectations related to investor growth, return on investment payout, total sales, ADR, and more. Additionally, the team delivered new villas and new amenities on schedule. This success cements Secret Bay as the gold standard when it comes to CBI real estate investment opportunities.
Year-over-year growth successes include:
- The Residences at Secret Bay has been paying its investors a consistent return on investment. From the fourth quarter of 2019 to the first quarter of 2024, the total US Dollar amount was over US $2.7 Million.
- Between the first quarter of 2023 and the first quarter of 2024, The Residences at Secret Bay grew from 147 investors to 188, a nearly 28% increase.
- Between the first quarter of 2023 and the first quarter of 2024, The Residences at Secret Bay’s operating occupancy rate remained consistent, averaging over 65%. The Average Daily Rate(ADR) increased by 45% during this same period.
- The number of villas has nearly quadrupled, from six in 2019 to 20 in 2023.
These year-over-year results highlight our growth and the rising interest in this type of product and investment,” said Marvlyn James, Director of Sales and Marketing of The Residences at Secret Bay.
“Additionally, with global interest remaining strong and steady and having reached the 50% mark on allocated fractional shares, we are confident that our sales and construction cycles will continue to be in sync, delivering an incredible lifestyle and real estate product to our investors”
In addition to its growth trajectory across the board, the resort continues to experience high demand and consistent interest from guests, reflecting positively on its overall performance even with expanded villa inventory.
These performance markers come on the heels of The Residences of Secret Bay seeing a notable increase in investment interest from North America in the first quarter of 2024.
Out of the total investors in Secret Bay during this period, a remarkable 35% hailed from North America, a significant jump from the same period last year when only 5% of investors came from North America.
Out of the total investors for Q1 2024, 40% were lifestyle clients and non-CBI clients, with an impressive 80% of those clients originating from North America.
As part of its ongoing growth and commitment to offering completed villas, Secret Bay recently unveiled its first Ti-Fèy+ Villas, available for stays beginning November 1, 2024.
The three-story, two-and-a-half-bedroom villas were designed with families, multi-generational travel, and groups in mind. The addition of these villas increases the resort’s inventory to 23. The villas are available for fractional ownership, starting at $216,000, with the opportunity to secure today’s most coveted amenity – a second passport.
Situated in Secret Bay’s Hillside enclave, the ultra-luxe and private Ti-Fèy+ Villas are fashionable treehouses boasting up to 2,799 square feet, floor-to-ceiling glass walls, and a three-story design with a private plunge pool, outdoor rain shower cantilevered off the top floor, state-of-the-art open-plan chef’s kitchen with granite countertops and every modern amenity imaginable.
This design creates an idyllic under-the-radar hideaway. The villas are accessible by a newly launched funicular, connecting guests and owners from the Mouben Welcome House to Clifftop and Hillside enclaves.
The Resort & Residences recently launched its newest amenity – Bwa Denn – an immersive cultural experience featuring food, art, retail & kombucha brewery.
The modern minimalist two-level structure features a contemporary Caribbean and Latin American art collection of over 100+ distinct pieces, a commercial art gallery celebrating local artists, as well as a casual gourmet restaurant on the ground floor, a full-service bar, a hip microbrewery, conference space, a mini theater, cutting-edge wine cellar and more.
The rooftop lounge and fine dining space with extensive ocean vistas will be home to the resort’s signature “no menu” concept, while the kombucha brewery will specialize in fermented local teas infused with fresh fruits.
Heralded by top publications across the globe, Secret Bay and The Residences continue to be featured in top international publications and earn merit awards.
For the fourth time in five years, Secret Bay was named Travel + Leisure’s #1 Resort Hotel in the Caribbean, Bermuda, and the Bahamas. Secret Bay also made Conde Nast Traveler’s list of best Caribbean resorts.
Other features included Secret Bay being named one of Caribbean Journal’s best luxury boutique hotels in the Caribbean, The Times UK spotlighting it as one of the coolest hotels in the Caribbean, and Fodor’s showcasing it as a spectacular hotel.
The Wall Street Journal, the most discerning global business publication, featured The Residences’ highest-priced offering, a $10.3 million compound, and citizenship as an amenity. The Residences were also front and center in United Airlines’ in-flight magazine, Hemispheres, and across multiple UK publications, including GQ and Vogue, all highlighting it as a desirable vacation home offering.
See all the Resort & Residences press and accolade highlights here. The property is Dominica’s first and only property affiliated with the elite luxury brand Relais & Châteaux.
For more information, visit: https://secretbay.dm/residences/ or email residences@secretbay.dm.
