By Vivian Tyson, Senior SUN Editor

• Mon, Jan 07, 2013

The SUN has learnt that Dolmen Import and Export Ltd, the construction company which carried out construction of the Our Lady of Devine Providence Roman Catholic Church in Providenciales may be awarded the contract to undertake the second phase of the Providenciales International Airport expansion.

However, Government is saying that no official award has made, and that it is unlikely that one would be made before the New Year. 

Dolmen Import and Export Limited is a joint venture between a Turks and Caicos Islander and a company from the Dominican Republic.

Tender for the project went out about two months ago. A preliminary bidding was held and the number was weeded down to four – Jaca TCI, Dolmen, Turquoise Construction and North Star Ltd. The preliminary process looked at, among other things, the bidder’s capacity and the ability to successfully carry out the job. It is understood that from the four, Dolmen was the lowest competing bidder.

When contacted, a source at Dolmen told The SUN that, while the award was not official, they have reason to believe that they have the recipient. 

When contacted, the Airports Authority confirmed that the process had run its course, but declined to state whether or not a preferred bidder was chosen, rather, referring us to the relevant minister of government for a comment. 

When contacted, Premier for the Turks and Caicos Islands Dr. Rufus Ewing noted: “No official awarding of tender was made. They went through the tender process but no official award was made. There are few things that need to come to the House. And more than likely an award may not be granted before the New Year.”

Airports Authority said at the launch of phase two back in the summer that the terminal expansion project would not only offer better facilities for passengers, also but provide it with the room to expand over the next 15 years.

The second phase is a US$10m redevelopment of passenger facilities there. The announcement for the commencement of that segment of work was made on Tuesday, 31 July this year. It will include the expansion of existing terminal building and the construction of a larger car park.

On completion, according to the Turks and Caicos Islands Airports Authority, passengers will be able to enjoy expanded check in counter areas and self check in facilities, additional bathroom facilities, larger retail space for shops and restaurants, and improved medical amenities. 

The entity disclosed that, the expansion will nearly double the size of the terminal to better accommodate the 500,000 passengers who pass through the airport each year, since the expansion in capacity will increase from 51,462 to 92,321 sq ft.

The second phase of work will be done in three phases. The first will include the construction of a new traffic circulation system, an extension to the existing west car park, and extension of the departure Lounge.The second phase will continue with the extension on the international check in area, security check point as well as the arrivals hall. 

The third and final phase will include the domestic departures and arrivals area, completion of car park and aesthetics, including water features.

Recent Real Estate Numbers Show A Strong Increase In Sales.

Regency International Estates - The Exclusive Affiliates of Christie's International Real Estate, continues its responsibility of providing their clients, investors, buyers and sellers, with an in-depth, 3rd Quarter "State of the Market Report" containing current and detailed information on the real estate market 

As noted by Katherine Baryluk, Owner and Broker, "We can see that there is significant movement in high level, prime properties, and impressive forward movement in the islands' key infrastructure. This in contrary to an economic trend that has seen islands in the Caribbean put many important projects on hold. The last few months have translated into a considerable increase in investor confidence, and a desire by significant parties to enter and/or return to the TCI."

Katherine continued, " Property prices are up, sales are up, and tourism has increased, but great value and opportunity still remains.  Our clients are looking for a tangible investment, detaching themselves from thefragility of their own markets, and unknown changes in their political and taxation structures. 

They are providing themselves and their loved ones a legacy purchase, not just a smart investment for the future, but one that can be enjoyed today."

This is the perfect time for buyers to invest in Turks and Caicos real estate.

Beachfront at the West Bay Club. Some of the Best Real Estate in the Caribbean.

A perfect vacation and investment property on one of the worlds best beaches. Located on the 4th floor, this stunning fully furnished 2 bedroom, Beachfront unit is a popular and desired layout in one of the most beautiful and sleek Condo resorts on Grace Bay beach. This 1,850 sq. ft. suite has a layout that splits into two rental units allowing you to maximize your rental income when not in residence. This unit has a positive rental income for 2011 YTD. The architecture of the West Bay Club is reminiscent of some of the finest Caribbean properties with its use of cedar shingle roofs, coral render, aged woods and white washed walls. The Resort features a full restaurant and bar with a unique self-service BBQ area right on the beachfront. A modern fitness center and professional spa service add to the West Bay Clubs amenities, highlighted by a sprawling pool that meanders through a lush & luxurious landscape.

West Bay Club.
2 Bedroom.
2 Full Bath.
1 Half Bath.
1,850 Square Feet.
Income Producing.
List:$880,000USD.

Best Beach in the World.

Virtual Property Tour:

Momentum Continues

The Turks and Caicos continues to gain momentum through the Second Quarter of 2012, something that emerged in 2011, strengthening through Q1 of this year.

We have also seen several substantial sales of tourism/hotel related properties, lending itself to future new development for the TCI.

As Robert Greenwood, Broker and Owner of Regency International Estates, the exclusive affiliates of Christie's International Real Estate says, " We can see that there is significant movement in higher level properties, therefore an increase in confidence and a desire by significant investors to enter the TCI".

Along with new development, there has been significant movement toward the handful of projects that fell foul of the economic downturn, being revitalized and ultimately completed.

Robert also noted, " This is the perfect time for buyers to pull the trigger in the TCI, we are off the bottom and moving in the right direction, a major indicator for any investor. However, we are by no means at the top, with luxury properties offered at reduced prices. If you ever regretted not buying before, then this is the time !".

View State of the Market Report here:

Real Estate Sales for the First Quarter of 2012 Enjoyed a Significant Increase.

The number of properties sold in the Turks and Caicos increased by over 80 percent in the first quarter of 2012 over the same period in 2011.

This is according to a Market Analysis recently completed by Regency International Estates - The Exclusive Affiliates of Christies International Real Estate,  and figures from the Turks and Caicos Real Estate Association (TCREA). 

As can be seen from this market report, around $50 million of real estate has been sold in the first three months of 2012, almost three time that of the same period for 2011. Whilst significant by itself, the TCI has also seen the average sale price almost double for the same period.

We have also seen a significant increase in high value sales, with individual properties being acquired in the $6 million to $12.5 million range. Whilst many of these high value sales represent the private condo and villa sectors,  we have now seen tourist related development properties change hands.  This is extremely significant as this may result in new hotel projects for the Turks and caicos Islands,  possibly as soon as 2013.

MARKET SNAPSHOT

FULL STATISTICS CAN BE FOUND IN OUR NEW BLOG "TURKS AND CAICOS ISLANDS MARKET REPORT" 

Toys Of The Caribbean...

Not only does the TCI have some of the worlds best beaches and turquoise waters, all fit for an unriveled lifestyle but we have cool too.

If you love Divng, we have the best, If you love fishing, we have the best, if love boating, we have the best, and with the emerging Kiteboarding and Windsurfing Mecca on Long Bay Beach, we again have the best.

Now, if it's adrenaline your after, then this is definately for you... 

Crossed between an exotic sports car, speed boat, submarine, jet plane, and Shark, the Seabraecher is the ULTIMATE DIVING MACHINE.

This little toy belongs to a great friend of ours and is one of the most amazingly exciting adventures you can experiance on, in, or under the water. And with the crytal clear turquoise waters found in the Turks and Caicos Islands it just adds to the experiance.

So if your sailing along on a beautiful Caribbean day, daydreaming about what it would be like to live this life all year round, and this pops up, DON'T PANIC, its probably me

Long Bay Beach

Caribbean Elegance Awaits.

Conjuring feelings of Caribbean cool and Tropical elegance through the legacy of an iconic master.

Christies International Real Estate

Exquisite craftsmanship, attention to detail, a taste of adventure and an amazing sense of texture create this 6000 square foot highly stylized architectural masterpiece that is The Shore Clubs new Estate Villa on Long Bay. Adorned as if a quintessential Barbadian Estate from a bygone era, it is the purest distillation of Caribbean chic.
Subtle arches deliver classical symmetry while Coral Stone Doric Colonnades, open balconies and decoratively terraced walkways clad in tropical foliage add charm, authenticity, depth and a sense of mood, securely rooted in a tropical, oceanfront lifestyle.

Enter a truly bespoke and exclusive resort residence, perfectly designed to offer unsurpassed views, tranquility, and the ultimate in privacy, all sweeping across 820 feet of pristine beach and azure waters.

The villas have been designed by creating strong lines and a magically defined connection between the villa, tropical landscape and ocean settings. Subtle proscenium arches act as focal points, capturing majestic views and framing scenic vistas, creating splendid botanical and turquoise ocean backdrops against which your life inside is played out, melting divisions between interior and exterior spaces, engaging your imagination in completing the scene, as if adding a final brush stroke to a timeless masterpiece.

In a world were every gaze settles upon a natural masterpiece, the true measure of design is to frame its splendor from the inside out, toward the theatre of nature, or from outside in, exposing an elegance of design, as if one was melting into the other…

As carefully crafted as its cool Caribbean architecture is the human element offered at The Shore Club. Truly subtle and understated, you will enjoy a lifestyle made easy with a personal butler. Welcoming you home, easing you into a state of relaxation from the moment you arrive.

The villa will enjoy all amenities of the Shore Club including the award-winning Hartling Group as Management Company for leasing as an option, concierge, reception, spa, retail boutique, fine dining, the grand colonnade pool and oceanfront pool and bar areas.

For further Details on the Shore Club please visit Christies International Real Estate 

The Real Estate market in the Turks and Caicos is like no other… so many factors contribute to the “Value” of our islands real estate, most of which are well outside of what many would ever consider when buying a property in their own hometown. In the beginning they are continually banging away on their calculators in a futile effort to compare a property they may have seen in the Bahamas, Florida, or even worse, back home.

Quality of life is not measured by the “Price per square foot” formula it doesn’t exactly translate to “value per square foot”.

On every showing, with every client, I share the same statement, and do the same exact thing. If you can imagine standing on a beautiful balcony, I direct their gaze through the palm trees and out onto the powder soft white sandy beach, and turquoise waters beyond the infinity pools and say:

“You know, you can buy four walls, marble tiled floors, and cascading bathroom fixtures anywhere in the world, but that,” (pointing to the ocean) “that you can’t get just buy anywhere”. 

This one-statement helps them put into perspective exactly what it is they are doing. It’s not just a new property they are looking at, but also a new lifestyle. 

However, that’s just scratching the surface. The Turks and Caicos Islands offer so much more than just a great new lifestyle; it offers an investment opportunity that is felt to be unrivalled throughout most of the Caribbean. 

With an attractive Tax Haven Status with no annual property, income, inheritance and capital gains tax, stable government, no restrictions on foreign ownership and property ownership guaranteed by the British Crown, the islands instil a level of confidence rarely found in the Caribbean.

When you roll all of this in with the TCI’s convenient and great location - just a 90 minute flight from the US mainland, a mere 3.5 hour direct flight from Canada, and the fact that it is English Speaking, with U.S. Dollar as the local currency and has a very low crime rate, these islands offer a treasure trove of benefits that add value to every property in the Turks and Caicos Islands. 

This level of understanding takes time, and is usually something we can pass onto to our clients within a reasonable showing period of a day or two. It’s at this point that they put away their calculators and see the big picture. The myriad of benefits briefly we briefly touched on is the true value of the property you will inevitably buy in the beautiful Turks and Caicos Islands.

Turks and Caicos Weekly News

Saturday December 3rd, 2011

A consortium of local and overseas investors have acquired 45 acres of Crown Land on a 99-year lease to plunge $15 million into construction of a private jet terminal with a hangar for parking 50 to 60 jets, that opens by the next tourist season.
Termed a Fixed Base Operation (FBO) and private aircraft terminal the facility at Providenciales will is expected to boost the luxury travel market to the Turks and Caicos Islands when it opens next year, investors and the government stated.

In a joint government and investor media release distributed at a press conference Thursday, December 01, it was stated that the new state-of-the-art FBO will feature generous parking and hangar space for large and small private aircraft, modern lounge and crew facilities, integrated customs and immigration as well as full servicing of private aircraft. 

According to the release the investing consortium, M Aviation, is a Turks and Caicos-based company owned and operated by investors who have already made significant tourism related investments developing a leading luxury resort in Turks and Caicos.
Lead person in the investment group, Michele Neuteling, told the media during the briefing at the Providenciales Airport International Lounge that M Aviation comprises fewer than 10 persons.
“TCI-based M Aviation Limited, Turks and Caicos Islands Authority (TCIAA) and the TCI Government have agreed on a commitment to develop the new FBO adjacent to Provo’s International Airport, tripling the private airport capacity at the airport,” the release stated, and continued: “Over one-third of aircraft movements at the airport already comes from private aircraft, despite accounting for only three per cent of passenger traffic.”
They say it will be ready in approximately 12 months time for the 2012/13 tourist season and will support 50 construction jobs during the build period and employ up to 20 personnel once operational. M Aviation has committed to adopt a minimum of 70 per cent local employment.
Governor Ric Todd added: “Such a significant investment commitment by a local company into our infrastructure shows that business confidence is building across the Turks and Caicos. The new facility will allow our islands to keep pace with other Caribbean destinations and play a key role in supporting our exclusive resorts.”
John Smith, Chief Executive of the TCIAA, commented that: “The private aviation market is showing tremendous growth as more and more affluent travelers wish to take advantage of the privacy, flexibility and convenience of traveling on a private plane. A second FBO facility in Turks & Caicos will position us well as a luxury destination for the future.”
M Aviation acquired the land on government’s lease principles taking inflation into account.

Starting on February 16, 2012, Air Canada will be offering another direct flight from Halifax into Providenciales, Turks and Caicos. Canadian tourists, who accounted for more than 12% of all arrivals to TCI in the first half of 2011, are sure to be pleased that Air Canada is offering a four hour non-stop flight to warmer temperatures during the cold winter season. 

In the first half of 2011, an influx of U.S. tourists caused arrivals at Providenciales International Airport (PLS) to increase by 23% compared to the same time period in 2010. New Continental flights from New Jersey and new JetBlue flights from New York and Boston accounted for two-thirds of those visits, and a new weekly service from Halifax, Nova Scotia (YHZ) will give more Canadian tourists the opportunity to fly directly to Providenciales.

Outbound Air Canada flights will depart from Halifax, NS on Thursdays at 1:45pm and will arrive into Providenciales at 5:30pm. The new extended runway at Provo International Airrport will welcome many larger, long-haul flights from Canada and Europe.

The inaugural Air Canada flight from Halifax to Providenciales is scheduled to depart on February 16, 2012.

Canadian visitors accounted for twelve percent of all arrivals in the first six months of 2011, and now that people living in Nova Scotia have direct access to the soft, white beaches of Grace Bay, those numbers are bound to go up.