Bargain Possibilities for Developers
Because of the immense turmoil in the markets over the last few years, Turks and
Caicos Islands have had some of their most spectacular condominium developments be
put on hold or abandoned as the financing needed was no longer forthcoming.
Some of the unfinished projects have gone to auction and others are still
contracting new financing or finding new partners for their developments.
Dellis Cay, a private island (560 acres) was being transformed with architects from London, Milan, Tokyo and Singapore who are designing homes and condos on the beaches and over the water. It was planned tol have private residences, villas, spa, marina and a resort hotel managed by the Mandarin Oriental Hotel Group. Ultra luxury living under the Caribbean sun. A hop and a step away from North Caicos and a short boat ride to Providenciales. See Brochure and Mandarin Oriental description of this magnificent unfinished project.
West Caicos - Molassis Reef (Ritz-Carlton)
(There are currently developers with financing working out final details with the government and most likely they will start work again on this project very soon.)
The Lehman Brothers had been financing the Molasses Ritz Carlton and in the fall of
2008 declared bankruptcy which put the whole resort on hold until another financial
institution could bring in financing to complete the project. It could take some
time to find a proper fit between the Ritz Carlton project and a financial
institution. See planned project at West Caicos -
Malassis Reef.
Toscana Grace Bay
This project is standing partially finished on a incrediblly beautiful part of
Grace Bay Beach.....no one has made a successful bid for finishing the project and
this parcel will likely go for a great price...talk to Peter.
Toscana was planned on a wonderful part of North Shore in Providenciales beside
Coral Gardens. Developers are still looking for financing or new partners to finish
this beautifully designed resort. See: Toscana Grace
Bay.
Third Turtle Club
Third Turtle Club.
Royal Reef
Resort - North Caicos
On Hold
Sailview on Grand Turk
On Hold
If you are looking for investment opportunities from small boutique hotel to larger resort development, ask Peter for details about some of the unfinished projects .
More to come.
