Roseau, Dominica: Dominica’s profoundly known as the secluded six-star all-villa resort consisting of exquisite and residential-style villas; Secret Bay declared that it has paid out more than US $1 million to investors in return. They also outlined that it has also gained more than 100 Citizenship by Investment owners from across the globe.
Between the fourth quarter of 2019 through the second quarter of 2022, the CBI project recognized globally is also a part of the award-winning resort Secret Bay released the year-over-year results.
While performing exceptionally well, the Residences at Secret Bay witnessed significant growth in the CBI investor, return on investment payout, total sales, ADR, occupancy rate, and resort employee growth.
The resort also served on-scheduled new villas and new amenities, which turned out to be the progressive factors for the Secret Bay. Earlier, the Citizenship by Investment Programme of Dominica has also ranked as the world’s best in the CBI Index 2022 released by PWM Magazine of Financial Times for the sixth consecutive year. These titles make the Secret Bay a gold standard when investors look out at the CBI real estate investment opportunities.
Various factors influence Year-over-year growth success include:
- The Residences at Secret Bay witnessed significant growth in terms of investors as the data hiked from 41 to 103 between Q2 of 2021 and Q2 of 2022. It contributed to the 151 percent increase.
- During the period of Q4 of 2019 to Q2 of 2022, the total Return on Investment stood at US $1 million, with the average ROI being 3.6%. While adjusting for the operating days, the Return on Investment witnessed a growth of 7 percent.
- Between 2019 and 2022, the count of villas also witnessed growth. It is also expected that this count will get double in size by the end of 2024 and reach 28 villas.
- In 2022, the rate of operating occupancy jumped to 90 percent, as it was 58.9 percent in 2019.
- The Average Daily Rate (ADR) also witnessed growth as it jumped to $1000 from $857 from 2019 to 2022.
- There was also a surge in the number of employees from the Q4 of 2019 to Q3 of 2022. It has increased from 33 to 104, which contributed to a 215% increase.
- Non-CBI transactions accounted for 36% of revenue, which also included The Residences setting a Dominica price record with the sale of a US $7.2M multi-villa compound in 2021.
The Residences at Secret Bay, and CEO of GEMS Holdings Limited, Gregor Nassief highlighted, “Our year-over-year results are 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.”
While expressing pleasure, he said, “We’re grateful for our investors and for the commitment of our resort management and development team that has allowed Secret Bay to achieve this level of performance and growth in just under three years. We are hopeful and excited about the future.”
About Secret Bay:
Secret Bay has not performed extraordinary and witnessed growth over the past three years; it has also introduced the newest amenities, such as state-of-the-art amenities, including a heralded restaurant, spa, a wellness pavilion, welcome house, lap pool and bar and more.
Moreover, various amenities are now under construction, which will be disclosed over the next 12 months. It included a second restaurant and bar, art, boardwalk, floating platforms, funicular, chef’s table and EV charging stations.
About Secret Bay’s Gwiyavye’ Lap Pool & Bar
The resort has also disclosed its newest amenities, such as Mouben Welcome House, Gwiyavye’ Lap Pool and Bar and Zing Zing Lounge – which are inspired by biophilic design and embrace the resort’s nature and sustainability design ethos.
Publications such as Architectural Digest, CNN, Fortune, National Geographic, Outside, the cover of Travel + Leisure, and The Telegraph ranked recognised Secret Bay for its exceptional design. It has also been named as one of Travel + Leisure’s top 500 hotels in the world and the #1 Resrot Hotel in the Caribbean, Bermuda and the Bahamas.
It is the first and the only property which is affiliated with the elite luxury brand, Relais & Châteaux. While showcasing the global publications like
Architectural Digest, Departures, Luxury Magazine, New York Post, Ocean Home Magazine, Robb Report,Wall Street Journal and Wealth Magazine, among others, the Residence recognised the resort for their impressive offering and their most coveted amenity — second citizenship.
Various markets such as the USA and European have been fuelled by the phenomenal growth in the luxury eco-resort with savvy travellers seeking natural beauty as a growth area. Dominica is also known as the best-kept secret in the Caribbean, which stands to allure this market making Secret Bay more attractive for investors.
The CBI offering of the residences is priced at the US $208k for fractional ownership and from the US $1.5 million for whole ownership.