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ONE Cable Beach Developer ‘Belief in Bahamas Remains Solid’ Multimillion Project to go Ahead, All Buyers to Date Re-affirm Interest

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Bahamas, 03 Jul 2015 – A multimillion project of luxury residences just steps away from Baha Mar confirmed today that it will continue full steam ahead despite news that the neighbouring $3.5 billion Baha Mar resort project filed for Chapter 11 bankruptcy protection June 29.

“ONE Cable Beach will definitely move ahead as planned,” Aristo Development President & CEO Jason Kinsale said. “Like everyone else, we were caught off guard, shocked and saddened by the halting of the Baha Mar project, which we trust is temporary, but we immediately got on the phone, shared the news with those clients who purchased residences pre-construction, and were very relieved to hear that, like us, their belief in The Bahamas and the future of this country remained firm.”

According to Kinsale, none of the purchasers requested a refund.

“Quite the contrary,” he said. “Most saw it as a hiccup and looked at the broader picture. Both local and international investors felt they got in at the best available price in a location that is going to remain highly sought after because it is one of the last pieces of oceanfront on the northern coast of New Providence. Whether you call it the Bahamian Riviera or Cable Beach, the reality is that it is a spectacular piece of shoreline that is hard to match anywhere in the world – close to conveniences and far from boring.”

The $40 million development, located almost immediately west of Melia, will be seven stories and is defined by its striking architecture that includes curving balconies that almost appear to float. It’s a design that Kinsale, who also developed the popular community of Balmoral, calls dynamic and inviting.

“There is almost an organic, free-floating feel,” he said. “Even looking at the design gives you an almost palpable sense of freedom, inspiration and pleasure.”

With nearly 70 residences ranging in price from $555,000 for a one-bedroom to $3 million for the 3,900 square foot, 3-bedroom penthouse facing the sea, ONE Cable Beach features ocean and garden views, swimming pool, fitness centre, security, storm-rated windows and oversized doors, high ceilings, and quality construction with the finest in finishing details. In late June, dozens turned out for an open house in late June and interest has been evenly divided between local and international clients, according to the developer.

Site preparation is underway and construction has started even ahead of the official groundbreaking ceremony that is expected to be announced shortly. Some 200 construction jobs are anticipated during the building of ONE Cable Beach that should be complete in less than two years.

“We all hope that Baha Mar will soon be back on track,” said Kinsale. “But we are pleased to share some good news that ONE Cable Beach will make many good jobs and opportunities available and provide a solid, serious boost to the Bahamian economy.”

Magnetic Media is a Telly Award winning multi-media company specializing in creating compelling and socially uplifting TV and Radio broadcast programming as a means for advertising and public relations exposure for its clients.

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InvestTCI facilitates the Development Agreement Between TCIG and Molo Hotel Group 

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Providenciales, Turks and Caicos Islands – May 14th, 2024 – The Turks and Caicos Islands Government and Molo Hotel Group reached a pivotal juncture on Monday, May 13th, 2024, with the ceremonial signing of a development agreement at the Premier’s Office on Providenciales. The agreement, which received official Cabinet approval on March 13th, 2024, signifies a steadfast commitment to advancing the economic landscape of the Turks and Caicos Islands.

Molo Hotel Group is a family-owned business, renowned for its distinguished portfolio of high-quality hotels worldwide. The development initiative encompasses the construction of three distinct IHG branded hotels: InterContinental Turks and Caicos, Kimpton Turks and Caicos and Hotel Indigo Turks and Caicos. Scheduled for completion by 2027, each resort boasts a distinctive design from luxury to laidback sophistication spanning across the shores of Grace Bay Beach.

Kimpton Turks and Caicos – an epitome of luxury lifestyle living, will feature 192 guest rooms including three outdoor pools, a luxury spa and a fitness center. Additionally, seven dining options ranging from a beachfront restaurant to a rooftop bar.

Adjacent to the Kimpton, InterContinental Turks and Caicos will offer 59 classic luxury suites with panoramic ocean views. Mirroring its counterpart, this resort will offer an array of dining options and upscale facilities.

Steps away from the Intercontinental and Kimpton resorts, Hotel Indigo Turks and Caicos will embrace a sense of community and contemporary elegance, offering 56 bedrooms. The resort will feature an onsite restaurant, lobby bar, outdoor pool, and fitness room.

Beyond the realm of hospitality, this development agreement underscores the government’s commitment to fostering economic growth and enhancing employment opportunities in the Turks and Caicos Islands. Molo is partnering with the Turks and Caicos Islands Community College (TCICC) to actively promote hospitality as a career choice and support in developing training programs, career fairs, seminars, workshops, and events to raise awareness about hospitality careers. Molo has committed to provide employment and apprentice opportunities to TCICC students and provide mentoring and practical on property training to students.

The signing event was graced by Hon. Charles Washington Missick, Premier of the Turks and Caicos Islands, Hon. Jamell Robinson, Deputy Premier, Hon. Kyle Knowles, Minister of Public Safety and Utilities, Hon. Rachel Taylor, Minister of Education, Youth, Sports and Culture, Łukasz and Marcin Slominski, Owners of Molo, Ross Morrow, Managing Director Molo, Arik Kono, Vice President Upscale Development for IHG, Dr. Candice Williams, President and CEO of the Turks and Caicos Islands Community College, Angela Musgrove, InvestTCI CEO, Dr. Barbara Ambrister, Chairperson of the Turks and Caicos Islands Community College, Dr. Delores Stapleton- Harris, Vice President of Academic, Vocational and Student Affairs for the Turks and Caicos Islands Community College, Mr. Kevin Baxter, Dean of Technical Vocational Education Training (TVET) and Sheryl McLaughlin, InvestTCI Investment Services Executive.

Commenting on the development agreement, Premier, Hon. Misick, stated “The Memorandum of Understanding (MOU) signing of IHG/Molo Hotels is a significant step towards a sustainable future for hospitality in the Turks and Caicos Islands. Three hotels, Kimpton, Intercontinental, and Hotel Indigo, will be introduced, enhancing our tourism product and creating employment opportunities.”

He further added, “Partnerships with the Turks and Caicos Islands Community College and Turks and Caicos Islands Sports Commission are underway, demonstrating the Government’s commitment to developing human capital and elevating tourism offerings. This project will bring economic growth, embrace local talent, and enrich our economy.”

Additionally, Mrs. Angela Musgrove, CEO of Invest Turks and Caicos Islands, emphasized “This collaboration confirms our commitment to fostering economic growth and prosperity within our country. We have worked closely with Molo Hotel Group, and we are confident that this transformative project will further position the Turks and Caicos Islands as a premier destination for travel and investment. Much to our delight, it will also provide opportunities for engagement with our Community College and small business community.”

The Government of the Turks and Caicos Islands, operating through its primary Investment Promotion

Agency, Invest Turks and Caicos Islands, remains committed to attracting and facilitating Foreign Direct Investments to the country by providing a comprehensive suite of services. Through strategic initiatives and targeted promotion, the agency catalyzes sustainable development, driving innovation and small business opportunities across various sectors of the economy.

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Crime

Male Charged with Robbery

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#TurksandCaicos, May 13, 2024 – Detectives of the Serious Crime Unit of the Royal Turks and Caicos Islands Police Force have charged a man who allegedly stole a vehicle.

The accused, DANVANTE  BRISCO, 30,  of  Kew Town, Providenciales, was charged with:

  • One Count: Robbery
  • One Count: Taking Motor Vehicle Without Authority
  • One Count: Using Offensive Weapon to cause fear

Mr. BRISCO appeared in court today (May 13 ) and was granted bail of $7500.00 with one surety.

The matter was adjourned to July 05 for a Sufficiency Hearing.

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Crime

Dock Yard Male Charged  

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#TurksandCaicos, May 13, 2024 – A 20-year-old Dock Yard male appeared in court today (May 13th) charged with a series of firearm-related offences.

The accused, JAMES SIMON, was denied bail and remanded into custody pending a Sufficiency Hearing scheduled for July 05th, 2024.

Mr. SIMON faces the following charges: 

  • One Count: Robbery;
  • One Count: Gang Membership
  • One Count: Possession of a Firearm for the Benefit of a Gang
  • One Count: Possession of Ammunition for the Benefit of a Gang.

The charges against Mr. Simon followed investigations by officers of the Royal Turks and Caicos Islands Police Force into a robbery at the parking lot of a Casino where three males robbed a victim.

Additionally, Mr. Simon is charged with the following offences, having been arrested on May 02nd, 2024, along South Dock Road.

  • One Count: Possession of a Firearm
  • One Count: Possession of Ammunition
  • One Count: Unlawful Entry

Officers also charged a teenage minor who was in the company of  Mr. Simon on May 02nd with One Count of UNLAWFUL ENTRY. 

The accused, seventeen and from Kew Town, Providenciales, pleaded guilty and will be sentenced on May 20th.

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