Dominica: Secret Bay, which is known as the crown jewel of the Commonwealth of Dominica, has announced that it has paid more than USD 1 million in returns to investors. It has also announced that the residences at Secret Bay now has more than 100 Citizenship by Investment (CBI) owner across the globe. The team of the ultra-luxurious and world-class resort has also delivered on-scheduled new villas and new amenities.
The six-star, all-villa resort has been regarded as the globally-recognised CBI project for the world’s best Citizenship by Investment Programme of Dominica, which has been ranked as the ‘best’ in the world for the sixth consecutive year by Financial Times’ subsidiary Professional Wealth Magazine. The consecutive ranking of the CBI programme of Dominica makes Secret Bay a gold standard in the real estate investment option under the CBI programme.
During the year-over-year result between the fourth quarter of 2019 through the second quarter of 2022, the residences of the six-star villa have performed extraordinarily related to CBI investor growth, occupancy rate, total sales, return on investment payout as well as resort employee growth.
According to the statics shared by the team of the residents at Secret Bay, the year-over-year growth successes include:
The residences at Secret Bay have increased from 41 investors to 103 investors, which has been reported as a 151 percent increase. The hike has been reported between quarter 2 of 2021 and quarter 2 of 2022. Whereas, from quarter 4 of 2019 and quarter 2 of 2022, the ROI of the resort was exceeded by 7 percent and was around USD 1 million, with the average ROI being 3.6 percent.
Between the years 2019 and 2022, the count of villas has significantly grown by 100 percent and is expected will witness a hike by the end of 2024, reaching the villa count at 28. Additionally, the operating occupancy rate has seen a hike of around 30 percent – from 58.9 percent in 2019 and 90 percent in 2022. The Average Daily Rate (ADR) has jumped from USD 957 in 2019 to USD 1,000 in 2022.
The number of employees has also increased from just 33 to 104 – an increase of 215 percent, between the time span of Q4 of 2019 and O3 of 2022. Non-CBI transactions accounted for 36 percent of revenue, and that includes The Residences setting a Dominica price record with the sale of a USD 7.2M multi-villa compound in 2021.
Gregor Nasser, a proprietor of Secret Bay and The Residences at Secret Bay, outlined, “Our year-over-year results are a testament to Secret Bay’s value proposition from an investment perspective and set the stage for future years of growth for the investors.”
Nasser, who is also the CEO of GEMS Holdings Limited, furthermore stated that they’re grateful for the investors and for the commitment of the resort management and development team that has allowed Secret Bay to achieve this level of performance in just three years.
“We all are hopeful and excited about the future,” he highlighted.
Secret Bay has emerged as one of the best villa-resort because of its extraordinary performance and growth in the last three years. It has also introduced various amenities, which as state-of-the-art. The amenities include a heralded restaurant, spa, a wellness pavilion, welcome house, lap pool and bar, and many of the new amenities are under construction, such as a second restaurant and bar, art, floating platforms, boardwalk, funicular, chef’s table and EV charging stations, all of which will be unveiled over the next 12 months.
It has also attracted a heavy chunk of investors due to its exceptional design, service and experience as well as design. This year, the mesmerising resort has been 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 phenomenal growth has been fuelled by the USA and European markets, with savvy travellers seeking natural beauty as a growth area. Dominica being the best-kept secret in the Caribbean, stands to allure this market making Secret Bay more attractive for investors.
Secret Bay is a luxury resort that offers guests some of the best accommodations in the world. The resort features villas that are perched atop a hillside overlooking the ocean, and each villa has its own private pool. The resort also has a spa, a restaurant, and a bar.
Secret Bay has a variety of dining options to choose from. There is a main buffet-style restaurant serving breakfast, lunch, and dinner, as well as a la carte menus for lunch and dinner. There is also a beachfront bar and grill serving light fares such as sandwiches, salads, and burgers. And for those wanting something a little more indulgent, the resort’s signature restaurant offers a six-course tasting menu with wine pairings.