New $80m condo resort for TCI
By Marina Mello
A new $80 million condo resort development is set to begin in the Turks and Caicos Islands at the end of this year.
The Shore Club is set to begin construction in late autumn. Its first phase will include 38 luxury condos and amenities with what the company said was a market value nearing $80 million.
“The Shore Club will be one of the first major projects to commence in the Turks and Caicos since 2009 and would seem to be a reflection of the bolstered investor confidence in the country,” Premier of the Turks and Caicos Islands, Dr Rufus Ewing, said at a press conference last week.
Minister of Finance, Investment and Trade, Washington Misick said the government was fully behind the project and offered the assistance of the Investment Unit for any further needs the project may require throughout its development cycle.
The Hartling Group, which is developing the project, has sold 60 percent of the first phase.
The Shore Club will offer condominiums ranging from $1.3 million to $4.5 million, with private villas starting at $5.4 million.
DECCO, a construction management and services company based in the Cayman Islands, has formed a strategic partnership with Hartling to begin construction on the project.
“Having DECCO as a strategic partner is an immense sign of confidence in the Shore Club product and the Turks and Caicos Islands,” said Stan Hartling, CEO and founder of the Hartling Group. “We are thrilled to collaborate on this project with another organisation that brings the same passion for construction excellence, intelligent design and customer service to every project.”
The Hartling Group's previous projects include the Sands at Grace Bay and the Regent Palms development.
DECCO Ltd is a privately owned construction management and services company. Based in the Cayman Islands, it is part of the Dart Enterprises organisation.
Dart Enterprises is owned by billionaire Kenneth Dart, who along with his brother Robert owns Dart Container Corporation in the United States, which is the world's largest manufacturer of foam cups and containers.
The Dart brothers reportedly gave up their US citizenship and moved to the Cayman Islands.
DECCO told TCI News Now the project is part of a new regional focus for the Cayman Islands-based company.
“We are expanding our active investment portfolio, and we have a particular focus in the Caribbean region on opportunities in tourism-led markets. “We are extremely pleased to be working with such a well-established local developer in the Turks and Caicos Islands,” DECCO CEO Cameron Graham told TCI News Now.