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TCI Real Estate Market Skyrockets in Q1; $128 MILLION in transactions

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#TurksandCaicos, May 3, 2021 – After more than a year of detrimental Covid-19 impact on the TCI economy, all is not lost for the real estate sector. Following a murkier fourth quarter in 2020, the industry has locked in a phenomenal profit in the first quarter of 2021. 

According to Turks & Caicos Sotheby’s International Realty quarterly report, TCI Real estate market has just closed a record-breaking quarter of business with nearly $128 million in closed transactions, up 60 per cent over the same period last year with average price increases across each sector.

There are over $463 million in pending and conditional transactions, leaving out another circa $100M in new development sales. This includes sales at the Ritz-Carlton Residences set to open this summer, South Bank, Beach Enclave, Rock House, The Strand, and other new development projects underway.

While other tourism-dependent businesses have to keep up with the flopping profits, the impressive performance in the TCI real estate industry can be attributed to some underlying factors.

According to the report, Turks and Caicos is one of the tourist destinations endorsed by most ultra-luxury and luxury markets in the post-Covid era as a preferred warm weather destination. Besides that, a vacation property has now become not only a lifestyle investment, but also a life investment. 

A vacation property is always an integral part of work, play, and community, contributing to the overall growth of the market to another level.  

The Market Report said, since the Turks and Caicos government opened its borders to international tourism on July 22, 2020, the authorities and TC Hotel & Tourism Association have worked diligently with close collaboration to ensure both the community and the visitors streaming into the islands remain safe. 

Since the government instituted critical measures, robust mass testing, and boosted vaccination efforts, TCI has become a global leader with at least 43 per cent of the adult population vaccinated. 

While other countries closed their borders for tourism, it was to the country’s advantage to remain open, leading to a significantly busy spring for the resorts and tour operators.

The Sotheby’s first-quarter report also stated that second homeowners had enjoyed the extended stays this winter, too, in this Turks & Caicos safe-haven. 

According to the Sotheby’s report, the company made sales of up to $10M at Villa Chill, $6.975M from Lizard Lounge, $5.5M from Amanyara Villa 15, 5.75M  from  Beach Enclave Long Bay V5, $5.39M from Beach Enclave Long Bay V7, and $4.95M from the Shore Club Penthouse in the first quarter of 2021. 

Overall, Turks & Caicos Islands real estate made sales of up to 73,777,000 in single family homes, $28,802,000 in Condominiums, and $26,816,499 in the land (Residential and commercial) in the first quarter of 2021, according to data retrieved by TCSIR from the TCREEA ML Systems on April 12, 2021.

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Guilty Verdict Announced

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***MEDIA RELEASE***

 

Turks and Caicos, 13th June 2025 – The Royal Turks and Caicos Islands Police Force (RT&CIPF) confirms that a guilty verdict was delivered yesterday (12th June) in the firearm-related case involving SHAQUAZE FORBES of Over Back, Grand Turk.

Forbes, aged 22, was found guilty of:

  • One Count Possession of Firearm with Intent to Endanger Life
  • One Count Discharging a Firearm

His co-accused, JERREAL MISSICK, also aged 22 and from Over Back, was found not guilty following the judge’s directions to the jury.

Forbes has been remanded in custody at H.M. Prison, Home of the Department of Correction and Rehabilitation, and will be sentenced on 18th July, 2025.

On 13th February 2024, reports of a firearm discharge were made to the police. Following a thorough investigation and subsequent consultation with the Director of Public Prosecution’s Office, both individuals were formally charged.

The RT&CIPF is requesting the public to notify the nearest police station, contact 911, the Serious Crime Unit at 231-1842, or Crime Stoppers at 1-800-8477, and provide any information anonymously regarding illegal activity.

Additionally, individuals are encouraged to download the Crime Stoppers P3 app from the Google Play Store or Apple App Store and share information anonymously.

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Bahamas Offers Condolences After Deadly Air India Crash as Sole Survivor Speaks Out

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Story by Deandrea Hamilton | Editor

Published: June 12, 2025

 

AHMEDABAD, INDIA – A London-bound Air India flight carrying 242 people crashed moments after takeoff from Ahmedabad airport in western India early Wednesday morning. The crash killed 241 people and left behind a single, severely injured survivor — a British national. The aircraft reportedly experienced a catastrophic failure less than a minute into its ascent, plunging into a populated area just outside the city.

The scale of the devastation has been described by BBC reporters on the scene as “apocalyptic,” with both passengers and residents on the ground among the dead. The cause of the crash is under investigation, but Indian aviation officials confirmed that rescue operations have concluded, and one of two flight data recorders had been recovered.

As the world reels from the scale of the disaster, governments across the globe are responding with condolences and offers of support. Among them, The Bahamas has joined the international chorus of grief and solidarity.

Fred Mitchell, The Bahamas’ Minister of Foreign Affairs, issued a statement Wednesday afternoon:                                                                                                                                                                                                           “The Government and people of the Commonwealth of The Bahamas extend deepest condolences to the Government of the Republic of India, the families of those aboard the Air India flight that crashed near Ahmedabad on 12th June, and all affected communities.                                                                                                                                                                                        We are saddened by the tragic loss of life, including both passengers and residents on the ground, as rescue and recovery efforts continue.

We stand in solidarity with India and join voices worldwide in offering support during this time of grief.”

He added:

“The Bahamas commends the swift and coordinated efforts of Indian emergency services and international responders. May those who perished rest in peace, and may those who survive recover fully.”

The lone survivor of the crash has been identified by BBC News as Vishwashkumar Ramesh, a British national of Indian descent. He is currently being treated in hospital after being pulled from the wreckage.

Speaking with BBC reporters from his hospital bed, Ramesh shared a chilling description of the moment disaster struck:

“Thirty seconds after take-off, there was a loud noise… it all happened so quickly,” he said.

“I don’t know how I survived. Everything went dark.”

Ramesh has since been visited by India’s Minister of Home Affairs. His family in Leicester, UK, is being supported by British consular staff.

Air India has confirmed that it is cooperating fully with the investigation. In a statement, the airline said:

“Our efforts now are focused entirely on the needs of all those affected, their families and loved ones.”

The passengers included 169 Indian nationals, 53 Britons, seven Portuguese citizens, and one Canadian. Dozens of victims have been identified, and grief-stricken relatives have begun arriving in Ahmedabad.

The Bahamas’ expression of sympathy marks the Caribbean nation’s formal recognition of the tragedy and its global significance. As the lone survivor begins to recover, the world looks to investigators for answers on what went so horribly wrong just seconds after takeoff.

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BEACHES TCI EMPOWERS STUDENTS WITH HANDS-ON WASTE MANAGEMENT TOUR

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PROVIDENCIALES, Turks & Caicos Islands: Beaches Turks & Caicos (BTC) recently welcomed 35 students from Clement Howell High School’s Social and Environmental Arts Club for an immersive educational tour showcasing the resort’s sustainable waste management and composting systems, including grey water recycling.

The visit was part of BTC’s ongoing commitment to environmental education and sustainability. Students explored the resort’s eco-friendly initiatives, including how kitchen waste is transformed into nutrient-rich compost to support the property’s vibrant gardens.

Gerry Harris, 15, said the experience was eye-opening. “It showed me how simple but effective waste disposal can be—even at home. Seeing it first-hand made a big difference.”

17-year-old Onerce Oriol, who aspires to be a construction engineer, was especially drawn to the composting demonstration. “It was exciting to learn how common kitchen scraps can enrich the soil. I never realized how waste could be reused in such a beneficial way.”

The interactive, hour-long tour gave students a chance to engage in the process directly, enhancing their understanding through hands-on learning.

“This was a very informative experience,” said Robert Toby Grant, creative environmentalist and teacher at Clement Howell High. “Our students gained practical knowledge of BTC’s sustainability efforts and how they can apply these practices in their own lives.”

Jamie McAnally, managing director at Beaches Turks & Caicos, emphasized the value of community partnerships, “engaging students is key. One inspired student can influence an entire household, creating a ripple effect that benefits communities and ultimately, the island.”

BTC continues to champion environmental stewardship across Turks & Caicos, partnering with schools, government agencies and NGOs to promote sustainable practices. One standout collaboration is with the Edward Garland Youth Centre, which transforms plastic bottle waste from the resort into eco-art and garden installations.

Beaches Turks & Caicos is proud to support initiatives that build a greener future for the “Beautiful by Nature” Turks & Caicos Islands.

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