Providenciales, 06 Apr 2014 – The Turks and Caicos Islands (TCI) Government has signed a Memorandum of Understanding with the Cooper Jack Development Limited to build a $220 million dollar hotel, spa and residences today, April 2, 2015.
The proposed development will consist of a mixed-use, 281-bedroom resort consisting of a five-star stand-alone hotel of 100 bedrooms and suites, 76 condominium units and 3 luxury villas. The total project site area is situated along 20.92 acres in the Cooper Jack area of Providenciales.
“This new luxury hotel development is indeed indicative of the confidence investors have in the TCI economy and we welcome yet another group that is keen to invest in the TCI ” said TCI Premier Dr. Rufus Ewing.
“Additionally, a new hotel development in the Cooper Jack area now brings about a new frontier of luxury resorts in yet another location away from the Grace Bay area, which means further diversity not only in the sector itself but also in real estate market”.
Minister of Finance, Washington Misick stated; “This new development speaks directly to the investment climate in the country and also its attractiveness to high end developments. This is an exciting time in the TCI and we welcome this new development”.
The construction work is expected to begin in the 3rd quarter of 2015 and last for approximately 2 years.