Roseau, Sept. 30, 2022 (GLOBE NEWSWIRE) -- The Residences at Secret Bay, Dominica’s crown jewel development and only six-star, all-villa resort, announces it has paid out in excess of US $1 million in returns to investors and now has more than 100 Citizenship by Investment (CBI) owners from around the globe. The globally-recognised CBI project, which is part of award-winning resort Secret Bay, just released year-over-year results between the fourth quarter of 2019 through the second quarter of 2022. During this period, The Residences at Secret Bay outperformed expectations related to CBI investor growth, return on investment payout, total sales, ADR, occupancy rate, and resort employee growth. Additionally, the team delivered on-scheduled new villas and new amenities. This success, along with The Financial Times’ subsidiary Professional Wealth Management naming Dominica the “Best Country for Citizenship by Investment in the World,” — for the sixth consecutive year — further confirms Secret Bay as the gold standard when it comes to CBI real estate investment opportunities.
Year-over-year growth successes include:
- Between Q2 of 2021 and Q2 of 2022, The Residences at Secret Bay grew from 41 investors to 103 – a 151% increase.
- From Q4 of 2019 to Q2 of 2022 the total ROI was US $1 million, with the average ROI being 3.6%, and when adjusted for operating days, exceeded 7%.
- The villa count grew by 100% between 2019 and 2022, and will again more than double in size by the end of 2024, reaching 28 villas.
- The operating occupancy rate jumped from an average of 58.9% in 2019 to 90% in 2022.
- From 2019 to 2022, the Average Daily Rate (ADR) jumped from US $957 to over US $1,000.
- From Q4 of 2019 to Q3 of 2022 the number of employees grew from 33 to 104 – a 215% increase.
- Non-CBI transactions accounted for 36% of revenue and that includes The Residences setting a Dominica price record with the sale of a US $7.2M multi-villa compound in 2021.
“Our year-over-year results is a testament to Secret Bay’s value proposition from an investment perspective and sets the stage for future years of growth and profitability for our investors,” said Gregor Nassief, proprietor of Secret Bay and The Residences at Secret Bay, and CEO of GEMS Holdings Limited. “We're grateful for our investors and for the commitment of our resort management and development team that have allowed Secret Bay to achieve this level of performance and growth in just under three years. We are hopeful and excited about the future.”
Secret Bay Staff
In addition to having extraordinary performance and growth over the past three years, Secret Bay has introduced numerous state-of-the-art amenities, including a heralded restaurant, spa, a wellness pavilion, welcome house, lap pool and bar and more. Additionally, several new amenities are under construction including a second restaurant and bar, art, boardwalk, floating platforms, funicular, chef’s table and EV charging stations, all of which will be unveiled over the next 12 months.
Secret Bay’s Gwiyavye’ Lap Pool & Bar
Further, over the past decade, Secret Bay has been consistently recognised for its exceptional design, service and experience by such global travel and lifestyle publications as Architectural Digest, CNN, Fortune, National Geographic, Outside, the cover of Travel + Leisure, and The Telegraph. This year, for the second time in three years, it was named one of Travel + Leisure’s top 500 hotels in the world, and the #1 Resort Hotel in the Caribbean, Bermuda and the Bahamas. The property is the first and only property in Dominica to be affiliated with the elite luxury brand, Relais & Châteaux. The Residences were recently showcased in global publications like Architectural Digest, Departures, Luxury Magazine, New York Post, Ocean Home Magazine, Robb Report, Wall Street Journal and Wealth Magazine, among others, recognised not only for their impressive offering, but their most coveted amenity — second citizenship.
The phenomenal growth in the luxury eco resort sector fuelled by the USA and European market with savvy travellers seeking natural beauty is a growth area. Dominica being the best kept secret in the Caribbean stands to allure this market making Secret Bay more attractive for investors.
The Residences’ CBI offering is priced at US $208k for fractional ownership and from US $1.5 million for whole ownership. To learn more about Citizenship by Investment in The Residences at Secret Bay, visit: https://secretbay.dm/cbi/. For a consultation, please email cbi@secretbay.dm
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