Arc construction in Provo progressing, 50 percent  Sold 

Dana Malcolm 

Staff Writer

#TurksandCaicos, May 9, 2024 – With over 50 percent sold, Arc at South Bank has officially been greenlit for construction.

Arc is part of the South Bank development set on the south coast of Providenciales which in total has already sold over $250,000,000 worth of real estate.

The project offers four different neighborhoods, complete with a private lagoon and man-made islands, which are all selling fast.  The Ocean Estate, sold out and with price points that ranged between $6 and $15 million, The Boathouses starting at $2.15m, with 34 out of 38 units sold, and The Lagoon Villas, which are sold out.

Described as the heart of the South Bank project, Arc, designed by international architect Piero Lissoni and named after the gently curving design of the building, will be the Turks and Caicos’ most iconic property according to developers.

In a May 2 webinar attended by Magnetic Media, developers revealed that the building will sport a 150-foot-long pool alongside a man-made beach protected by a sea wall yet still connected to the open ocean.  The beach is scheduled for completion by November, with groundbreaking for Arc set for the second quarter of this year.

Arc, like many newer TCI properties, will serve as both a residential and a hospitality property.  It represents the final phase in the development and is the crowning achievement for development company Windward, and Ingo Reckhorn, one of its directors.

Included in the Sky Villas, the name used to describe residences in Arc, will be indoor-outdoor kitchens, hot tubs, pools, outside gardens on all floors and the Turks and Caicos’ first-ever boat concierge service, to be managed by Grace Bay Resorts and South Bank Marina.

“Both of us are Turks and Caicos companies operating here for over 30 years. We both believe in our people and we hire local employees,” said a representative from Grace Bay Resorts during the meeting.  In attendance were dozens of homeowners who have bought into the TCI dream ’Live South Bank.’

New construction is a major contributor to stamp duties in the Turks and Caicos and enriches the real estate market in which resale properties are few and far between. The government expects that it will collect over US$50 million in stamp duty taxes from land sale transactions in the 2024/25 financial year.