Despite a global pandemic, The Residences at Secret Bay—the Caribbean’s most anticipated Citizenship by Investment real estate opportunity—has reached the 50% sold milestone of its built villas, with the most recent sale transacting last week.
With initial sales of the acclaimed resort’s existing residences, including its deluxe Zabuco Villas and Ti-Fèy Villa—each a fully operating asset—the initial investors who obtained citizenship through purchasing at The Residences at Secret Bay have now been presented with their first return checks and are on track to receive their next quarterly returns to be presented on May 15, 2020.
“We’re seeing strong demand from the Middle East, Africa and Asia, and receiving increasing interest from the US market seeking a ‘Plan B’,” said Gregor Nassief, proprietor of Secret Bay and Chairman and CEO of GEMS Holdings Limited.
“As I last shared with IMI Daily about why investors should invest in Secret Bay, and the trend for ownership beyond citizenship, Secret Bay has demonstrated its value equation of having proven financial performance and a competitive exit strategy with a robust market for resale.”
With construction deemed essential in Dominica, Secret Bay continues building its next phase of new residences and has announced that five new Hillside Ti-Fèy Villas are set to be completed this November 2020. Entirely immersed in the sights, sounds, and aromas of nature, the architectural masterpieces are perched on a hillside overlooking the sweeping sea, mountain and rainforest views.
“We’re excited to expand our existing product inventory with the introduction of these five new real estate offerings for CBI investors, which each feature a two-story floor plan, a private pool, an outdoor rain shower cantilevered off the second floor, floor-to-ceiling glass walls and an abundance of space for residents to enjoy an intimate tropical island experience,” added Nassief. “By continuously offering completed villas, buyers have the opportunity to invest in an already-operating product that yields immediate returns.”
While travel to the island is halted at this time, Secret Bay continues to earn praise, most recently via Robb Report, which featured the resort in its story about “12 Hotels that Embrace the Power of Solitude,” building on the global attention it’s received over the past year including: Architectural Digest, Brides, Cosmopolitan, CNN, Fortune, National Geographic, Outside, the cover of Travel + Leisure, The Telegraph and many more, garnering six billion impressions.
One of The Residences’ pillars is a commitment to Dominica, and as an entity that has had long-term success supporting and enabling the community, this is paramount. This month, the GEMs family of brands, including Secret Bay and Fort Young Hotel & Dive Resort, responded to the world’s COVID-19 crisis by remaining fully operational and reorganizing their staff to launch “Koudmen Kitchen,” an initiative designed to supply COVID-19 frontline workers and healthcare professionals with 50 no-cost meals a day at four locations across the island. To date, they have provided more than 600 meals.
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.
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Christian Henrik Nesheim is the founder and editor of Investment Migration Insider, the #1 magazine – online or offline – for residency and citizenship by investment. He is an internationally recognized expert, speaker, documentary producer, and writer on the subject of investment migration, whose work is cited in the Economist, Bloomberg, Fortune, Forbes, Newsweek, and Business Insider. Norwegian by birth, Christian has spent the last 14 years in the United States, China, and Spain.