News

Launch of Aristo’s Newest Project

Published

9 years ago

October 21, 2015

The Bahamas, 19 Oct 2015 – They came. They saw. They bought. It was a glitzy, glamorous residential real estate investment launch that met with such positive response it even took developers by surprise.

The launch, held poolside at Graycliff with flowing champagne, soft music and a night lit with a million stars, was designed to introduce the public to the first video views of Aristo Development’s latest foray into the luxury condominium market, THIRTY|SIX, a 38-unit ultra-chic complex on Bayview Drive, Paradise Island. Thirty percent of the residences were sold prior to the invitation-only event.

“We were overwhelmed by the positive response,” said Aristo President Jason Kinsale. “By the time the evening ended, we had even more reservations on units and by the next day, we were 50% sold-out with construction not due to start for another several months.”

John Christie, whose real estate firm HG Christie has the exclusive on the Paradise Island project, said both the turn-out and the results pleased but did not surprise him.

“Paradise Island is one of those rare gems that continues to shine regardless of temporary shifts in the global economy because for those who can afford it, there is no place quite like it,” said Christie. HG Christie broker Ryan Knowles agrees. “Where else can you go where you have instant access to all the amenities of a world-class resort like Atlantis two minutes from your doorstep yet retain all the privileges and privacy of your own luxury residence with 24-hour concierge service?” he asks.

According to Aristo Sales & Marketing Director Matthew Marco, the appeal of Paradise Island accounts in part for the success, but a large part is a reflection of Aristo’s reputation and a distinctive sense of style.
“This is Aristo’s fourth project and its first on Paradise Island,” said Marco. “So whether people are buying for their own residence or for investment, they can look at the track record and see that Aristo does not just promise, it is a developer that delivers.” Marco points to The Balmoral, a sprawling, well-landscaped and thought-out townhome and single-family residential community in Nassau that is completely sold out with the exception of two homes that are just being completed. “Last week there were three left, now there are two. Next time we speak in a few days there may be none,” he told the writer. “We had so much interest for townhomes at The Balmoral that we recently acquired 12 additional acres adjoining the development and are thrilled to announce a new and final phase with luxury townhomes starting in the $400’s.” Aristo’s first project, Hampton Ridge, was also a 100% sell-out with condos delivered on schedule.

And ONE Cable Beach, currently under construction is 45% sold at a point when underground and site work have just been completed and the bones of the building with its organic, flowing lines are hardly out of the ground. “The style of that building has just wowed the public,” said Marco. “There’s nothing like it anywhere in The Bahamas and I doubt anywhere in the region.”

THIRTY|SIX is the first project that has teamed Aristo with the equally successful Sterling Financial Group, an integrated private equity, real estate investment and development firm based in Nassau. Sterling’s Chairman and Paradise Island resident, David Kosoy, has said that the market is “hungry for an offering with the sophisticated style and quality construction of THIRTY|SIX.”

“Am I surprised at the early sales reports of 50% sold with start of construction a few months away? Not at all. I looked at the plans, the location, the amenities and I just knew this was a winner which is why I chose to become an equity partner,” said the man who with others has developed more than $2 billion worth of real estate in the North American market.

Of the 38 condominiums in the block-long striking, contemporary building that will feature walls of glass, extensive landscaping draping from roof to ground floor, fitness centre, elevators and underground parking as well as 24-hour concierge service, only two-bedroom units ranging from $675,000 to $1.3 million remain available. All the studio and one-bedroom units sold and nearly all the two-bedroom corner units have been reserved.

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News

InvestTCI facilitates the Development Agreement Between TCIG and Molo Hotel Group

Published

4 days ago

May 14, 2024

Deandrea Hamilton

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.

Crime

Male Charged with Robbery

Published

5 days ago

May 13, 2024

Deandrea Hamilton

#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.

Crime

Dock Yard Male Charged

Published

6 days ago

May 13, 2024

Deandrea Hamilton

#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 05^th, 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 02^nd, 2024, along South Dock Road.