Historic $1.2 Billion Palace Resorts Agreement Signed – Largest Private Investment in TCI’s History Set to Transform Tourism and Economy

Grand Turk, Turks and Caicos Islands, 15th August 2025 – Yesterday, August 14, 2025 was a defining moment for the Turks and Caicos Islands as my government has signed a landmark development agreement with The Palace Company, part of the world-renowned Palace Resorts family – a brand celebrated globally for luxury, excellence, and exceptional guest experiences.

This is far more than the construction of another resort.  With an estimated investment of $1.2 billion- the single largest private investment in our nation’s history – and the development of a 40-acre property in Leeward, Providenciales, this project represents a bold step forward in shaping the future of our economy, our communities, and our place in the world.

The benefits will be far-reaching, and the investment will create hundreds of jobs for Turks and Caicos Islanders during both construction and long-term operations.  It will stimulate the local economy, providing new opportunities for entrepreneurs and suppliers, while also boosting tourism revenues and reinforcing TCI’s status as a premier luxury destination.

Equally important, this development reflects our unwavering commitment to sustainable, high-quality growth — protecting our environment, preserving our cultural heritage, and enhancing the beauty that makes these Islands unlike any other.

The world already recognizes our unmatched beaches and turquoise waters.  Through this partnership with Palace Resorts, we will also be known as a nation where vision, investment, and excellence come together to create opportunity and prosperity for all our people.

On behalf of my Government and the people of these Islands, I welcome Palace Resorts to our shores and look forward to the transformational impact this historic investment will deliver for generations to come.