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TCI Realtors sell over $290 Million despite COVID-bust to tourism

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#TurksandCaicos, February 8, 2021 – In reviewing the past decade of a buoyant real estate industry; 2020 surged ahead of 2018 as second best, according to the Market Report Year in Review Comparison published by Turks and Caicos Sotheby’s International Realty and it meant realtors banked an impressive $290,223,626 in sales despite the dismal impact of Covid-19 on travel.

“The 2020 TCI real estate market performed better than we ever could have hoped for in the context of COVID–19, a four-month country-wide shut down and stringent travel requirements,” informed the Market Report circulated in mid-January 2021, which added, “With airports and resorts closed, and most commercial planes not flying, the luxury market was, quite urgently, seeking out real estate!”

Resulting in record vacant land sales and multi-million dollar closes on signature properties in the British  overseas territory, the Report attributes the banner year to a reduction in stamp duty. 

The reduction was one of the Government’s revenue raising measures as the coronavirus pandemic robbed the country of critical tourism earnings.

“Quarter two, (led by the sale of a couple of a trophy properties and several new development villa sales) was also assisted by welcomed stimulus from the TCI Government with a concession halving stamp duty for the second quarter. This helped us close sales during this torturous time for our hotel, resort and villa rental partners grappling with the border’s closures. And this is really the first time in our history that our real estate industry has not been so directly tethered to tourism flow,” informed the Market Report.

The report, fueled by statistics from the Turks and Caicos Real Estate Association, (TCREA) informs that 323 listings brought in a whopping $290,223,626 in sales; an average of $898,525 per close.

Showcased as the most significant, big pay day sales for 2020 were:  Emerald Pavilion sold for $13 million; Bajacau sold for $18.8 million; Amanyara Villa 16 sold for $6.75 million; Dream Big Villa sold for $5.75 million; Long Bay House sold for $5.825 million and Cerulean for $4.8 million.

Land sales in 2020 topped 2019; the fourth best performance for Turks and Caicos in the past decade. 

The Turks and Caicos Market Report illustrated that over $63.2 million in vacant lots was earned from 168 listings.

It was a 4.4 percent increase over the year prior.

“Within the 168 sales there were 14 land sales over $1M and the overall average price, as noted on the graph, has experienced a slight increase. Nine beachfront parcels, three in Leeward and six in Long Bay transacted in 2020. The Bight experienced an uptick in sales which were predominantly along Leeward Highway. Leeward’s growth continues with construction throughout and continued land sales as noted below. Discovery Bay shows steady land sales and we predict this will increase with the plans for road pavement along with the recently launched new development, The Strand, in Cooper Jack. Long Bay was the winner again this year posting 42 land sales. The outer-islands recorded land sales in North, Middle, West Caicos, Grand Turk & Ambergris Cay.”

The Ministry of Finance reported increases as well for the public purse due to stamp duty. 

“Stamp Duty on Land Transactions for the quarter was $2.2 million and totaled $12.8 million at the end of the second quarter which was $3.4 million ahead of the estimates,” reported Premier Sharlene Robinson, TCI Minister of Finance in an October 27, 2020 update to the nation.

The 2020 Stamp Duty Waiver for real estate purchases was available from September 20th through to December 20th, and was offered in three tiers, namely:  a 75 percent reduction of stamp duty on property valued up to $2 million, made between September 21st and October 20th; a 50 percent reduction of stamp duty on property valued up to $2 million, made between October 21st and November 20th and a 25 percent reduction of stamp duty on property valued up to $2 million, made between November 21st and December 20th.

Fifty-seven condominiums were sold to top 2019; leading the sales were luxury condos at Grace Bay Club; The Palms;  Ocean Club; The Regent Grand and the Shore Club.

“Condominium sales performance finished the year end with a slight increase after the significant drop in sales volume last year. The average price increased by 37 percent due to the sale of several luxury re-sale condominiums. The sale-to-list ratio remained high at 92 percent and the overall-average price per square foot increased slightly to $488. The price per square foot for condominiums over $1M was $661 and over $3M was $780.”

Condo sales volume boomed by 15 percent after a review of 2020.

Interest continues to abound in 2021 for the alluring alternative life Turks and Caicos real estate listings offer, despite the end to stamp duty concessions. 

The Report explained the remarkable performance is due to these truths:  “They want quality, the ease-of-use and access and security, and are less motivated by rental income opting for personal use and long-term capital appreciation. As a Hamptons real estate agent said in early summer, “life plans changed in a weekend”, and while that may be an overstatement for this market, it is clear that buyers (and most existing TCI property owners) have put their umbrellas in the sand with a clear intention: They really want to be here!”

In Y2020, 93 private homes were sold; more than 16 of them sold for $3 million dollars and nearly 30 percent of those single family homes were in the villa development category.

Independent writer

A Turks and Caicos we can all be proud of

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What’s on my mind is a Turks and Caicos that deserves to be celebrated, not reshaped into something unrecognizable.

Yes, Providenciales has grown. It has welcomed businesses, ideas, and people from all over the world, and in many ways it reflects the beauty of a melting pot. But growth should not mean erasure. Progress should not require us to trade away the very soul of who we are.

There is a moment we are standing in right now that calls for intention. Stop. Pause. Preserve. Think ahead for the generations to come. All is not lost, but it can be, if we do not choose wisely.

Each Islander is unique to the island they are from. Even our dialogue carries the imprint of where we come from. Our accents, expressions, rhythms, and ways of telling stories quietly reveal our home islands. That is our power. That is our beauty. The true richness of Turks and Caicos lives in its people as much as in its landscapes. Exploring and preserving our islands must also mean exploring and preserving their inhabitants, their knowledge, their traditions, and their ways of life. We are not here to invent something foreign. We are here to shape and mold what we have already been given. God has already provided the blueprint. We only need to slow down long enough to see what is right in front of us.

No one knows your country or your product better than you who have lived it. Why try to be something we are not? Each time we attempt to imitate another place, we lose a piece of our own lifestyle. A lived experience is what gives us the authority to shape our present and our future.

I envision the marketing and development of our family islands not as replicas of somewhere else, but as island treasures. Places where businesses rise from culturally focused initiatives, designed first with residents in mind, and where visitors are welcomed into an authentic haven that reflects what Turks and Caicos truly represents.

North Caicos as a living sanctuary. Lush, green, and respected. A place for nature trails, wildlife exploration, farming traditions, and environmental exhibitions, where development works with the land, not against it.

Middle Caicos safeguarded for its history and natural wonders. Its caves protected not only as attractions, but as classrooms. Its flamingos preserved as symbols of the fragile beauty we are responsible for protecting.

South Caicos honored as the salt and fishing capital. The rhythm of boats, salt ponds, and sea life forming the heart of its identity. A working island where maritime culture and sustainable fishing are supported, celebrated, and passed down.

Grand Turk restored and respected as a cultural and historical anchor. Front Street with its light and British flare revived with intention. The return of a strong public library and cultural spaces for those who adore history, storytelling, and research.

Salt Cay protected in its quiet uniqueness. A picturesque island lifestyle centered on stillness, craftsmanship, heritage, and community.

The heart of this vision is not tourism alone. It is our people.

Celebrate our island cultures. Create small businesses that allow islanders to thrive with dignity, love, and respect. Build economies that sustain us without displacing us. Let development work in service of community, not the other way around.

Teach our youth the trades, the arts, the skills, and the stories while our elders are still here to pass them on. Boat building, straw work, farming, fishing, cooking, music, storytelling, herbal knowledge, construction, and design. These are not relics. They are foundations.

From this, innovation is born. When young people are rooted, they can modernize tradition without losing it. They can bridge yesterday and today. They can create futures that honor the past instead of replacing it.

We do not need to become a concrete jungle to be successful. We do not need to mirror other places to be worthy. We do not need to sacrifice our identity to attract the world.

What we need is the courage to protect what is left, the wisdom to shape what is coming, and the commitment to ensure that being a Turks and Caicos Islander is not just a title, but a living experience our people can still feel, recognize, and pass on.

 

From Alicia Swann

Turks and Caicos Islander

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Beaches Turks and Caicos sets the Benchmark for Biodiversity in the TCI

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Volunteers from the Sandals Foundation and Great Shape 1000 Smiles dental programme complete an oral health presentation at the Ashley Learning Centre took time out to share in a photo opportunity with some students and teachers

PROVIDENCIALES, Turks & Caicos Islands: — Beaches Turks & Caicos continues to lead the way in sustainability by cultivating a culture of environmental stewardship across the Turks and Caicos Islands. Through the introduction of biodegradable alternatives, agricultural education and community partnerships, the resort is setting a new standard for eco-conscious hospitality.                                                                                                                                                                  As part of its ongoing sustainability mission, the resort has replaced single-use plastics and certain chemicals with compostable, biodegradable products derived from natural sources, to reduce pollution and minimize the resort’s carbon footprint.

At Beaches Turks & Caicos, sustainability is woven into every part of the guest experience,” said Managing Director, James McAnally. “From the products we use to the relationships we nurture, our goal is to make responsible environmental choices that benefit our guests, team members and the wider Turks and Caicos community.”

The resort also practices on-site composting, recycling fruit and vegetable waste from its kitchens to enrich soil and sustain its lush landscaping. This closed-loop system reduces waste and promotes biodiversity across the property.

Beyond the resort, Beaches collaborates with local partners including schools, government agencies and NGOs to extend green education into the wider community. Through the Sandals Foundation, the resort supports projects such as the installation of water filtration systems, tree-planting activities and biodegradable workshops. Schools like Enid Capron Primary have expanded their farming projects and integrated agricultural science into their curriculum thanks to this partnership.                                                                                                                                                                                 Beaches also leads regular coastal cleanups and reforestation drives which inspires residents and students to play an active role in protecting their environment. “The Earth Guardian volunteers take pride in giving back to our schools and the communities we serve,” noted Public Relations Manager, Orville Morgan. “These initiatives create a sense of shared responsibility that strengthens both our communities and our natural resources.”

With its commitment to biodegradable innovation, sustainable education and environmental action, Beaches Turks & Caicos continues to set the benchmark for biodiversity and sustainability in the Turks and Caicos Islands.

Photo Captions

1st insert:  Beaches Turks and Caicos and the Sandals Foundation celebrate with students at the Enid Capron Primary School in a Reading Road Trip experience where guests and students get to experience a cultural melting pot of activity.


2nd insert: Beaches Turks and Caicos resort Simone Woodfine from the Bar Department prepares to plant a tree at one of our schools to celebrate the mission of providing a healthier environment for the Turks and Caicos Islands

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Turks and Caicos Corporate Community Join Beaches Resort to Raise Funds for Jamaica’s Hurricane Melissa Relief

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Some members of the local media fraternity who were present to share in the experience

Turks and Caicos Islands, December 17, 2025 – Corporate partners in and around Providenciales recently joined Beaches Turks and Caicos Resort raising over US $54,000 to support Jamaica’s Hurricane Melissa Relief effort.  The fundraising dinner, aptly titled, ‘One Caribbean, One Family, One Love’ saw over eighteen companies gather on Friday, December 12 to support the recovery of families and the rebuilding of communities affected by the category 5 storm.

“When our Caribbean family calls, we will respond with love,” said Deryk Meany, General Manager of the Beaches Turks and Caicos resort. “Today it is Jamaica that is affected, but tomorrow, it could be the Turks and Caicos or another neighbouring island. We are committed to serving our brothers and sisters and are deeply grateful to everyone who have donated to the cause.”

Since the passage of Hurricane Melissa in Jamaica on October 28, the Sandals Foundation has been working around the clock with local agencies and international partners to provide shelter essentials, food, and clean water, restore schools, and provide medical support to hospitals. Funds raised at the recent benefit dinner will help bolster the next phase of the philanthropic organisation’s support to rebuild schools and livelihoods in affected communities.

“As we continue to provide essential first-relief support, we have already begun our long-term recovery response,” says Patrice Gilpin, Public Relations Manager at Sandals Foundation. “Many schools, which are the cornerstone of stability, learning, and emotional support for our young ones, require urgent attention. This donation will go a far way in restoring a sense of normalcy in the lives of our youngest and most vulnerable.”

The One Caribbean, One Family, One Love fundraising dinner featured, amongst other things a silent auction of Sandals and Beaches Resort stays, airline tickets, spa services, catamaran cruise, and private chef dinner. The night’s four course meal was also spearheaded by the TCI’s 2025 Taste of the Caribbean silver medalist culinary team- all of whom volunteered for the event.

Managing Director of the Northern Caribbean and Curaçao, James McAnally expressed delight at the outcome noting, “The success of this event is indicative of the power of partnerships to effect real change. We are grateful to the TCI business community, resort guests and our resort team for coming together and making this moment count.”

Photo Captions

1st insert:  Sandals Foundation Public Relations Manager Patrice Gilpin (centre) accepts the cheque from Beaches Turks and Caicos resort General Manager Deryk Meany (left) and Managing Director of the Northern Caribbean and Curacao James McAnally

2nd insert:  Members of the Beaches Turks and Caicos resort’s entertainment team were on hand to provide scintillating performances at the event

3rd insert:  Beaches Turks and Caicos resort General Manager Deryk Meany (5th left) poses for the cameras with representatives of the Graceway Communities as he personally thanked those who were in attendance

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