Roseau: The Residences at Secret Bay, Dominica’s only six-star all-villa resort and crown jewel development, reports that it has paid out more than the US $1 million in returns to investors and currently has more than 100 Citizenship by Investment (CBI) owners from all over the world.
CBI Project is very famous, and it was a part of the award-winning resort Secret Bay, which just released year-over-year results between the fourth quarter of 2019 through the second quarter of 2022. The Residences at Secret Bay performed better than anticipated in terms of total sales, ADR, occupancy rate, CBI investor growth, and resort staff growth throughout this time.
Additionally, the team completed the delivery of new villas and facilities on schedule. This success, along with the fact that Dominica was named the “Best Country for Citizenship by Investment in the World” by The Financial Times’ subsidiary Professional Wealth Management — for the sixth consecutive year — further establishes Secret Bay as the industry leader in CBI real estate investment opportunities.
Year-over-year growth successes include:
- The Residences at Secret Bay increased from 41 investors in Q2 2021 to 103 investors in Q2 2022, a 151% increase.
- The entire ROI from Q4 2019 to Q2 2022 was USD 1 million, with an average ROI of 3.6% and a higher ROI after accounting for operating days of almost 7%.
- The count of villas was increased by 100% between 2019 and 2022 and expected to be double in size after two years in 2024, reaching 28 villas.
- The operating occupancy rate increased from 58.9% in 2019 to now 90%.
- From 2019 to RECENTLY, the Average Daily Rate (ADR) rose from US $957 to over US $1,000.
- From Q4 of 2019 to Q3 of 2022, the number of employees rose from 33 to 104 – a 215% boost.
- Non-CBI transactions accounted for 36% of revenue, including The Residences setting a Dominica price record with the sale of a US $7.2M multi-villa compound last year.
According to Gregor Nassief, proprietor of Secret Bay and The Residences at Secret Bay, and CEO of GEMS Holding Limited, “Our years of hard work are a testament to Secret Bay Value proposal from an investment perspective and sets the stage for future years of growth and profitability for our investors”.
Furthermore, they showed greatness for their investors and the responsibility of the resort management and development team that they permitted secret bay to achieve this level of growth in just three years. They also thanked the management and said they were excited about the future.
The staff of Secret Bay:
Not only did they have exceptional growth or performance in these three years, but Secret Bay also introduced state-of-the-art amenities, including a heralded restaurant, spa, a wellness pavilion, a welcome house, a lap pool and bar and more. Moreover, plenty of new amenities are under construction, with a second restaurant and bar, boardwalk, art, funicular, chef’s table and EV charging stations, and floating platforms, all of which will be unveiled over the next 12 months.
Secret Bay’s Gwiyavye’ Lap Pool & Bar
For more than 10 years, Secret Bay has always been recognised for its exceptional design, experience and service by such global travel and lifestyle publications as Architectural Digest, CNN, Fortune, National Geographic, Outside + Leisure + the cover of Travel and The Telegraph.
In 2022, this is the second time in three years, it was recognised as one of Travel + Leisure’s top 500 hotels worldwide and the #1 Resort Hotel in the Caribbean, Bermuda and the Bahamas. This property is the only one-on-one property in Dominica affiliated with the elite luxury brand Relais & Chateaux.
The Homes were recently indicated in global publications like Departures, Architectural Digest, Luxury Magazine, Ocean Home Magazine, New York Post, Wealth Magazine, Robb Report, Wall Street Journal and, among others, recognised not only for their impressive offering but for their most coveted amenity — second citizenship.
The remarkable growth in the luxury eco-resort sector fuelled by the USA and European market with savvy travellers aiming for natural beauty is a growth area. Dominica, the best-kept secret in the Caribbean, stands to charm this market, making Secret Bay more attractive to investors.
The Residences’ CBI offering is priced at the US $208k for fractional ownership and the US $1.5 million for whole ownership.
In order 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
