Dominica’s crown jewel development and the only 6-star all-villa resort present has recently announced that it has paid out more than US $1 million in investor returns and has more than 100 citizenship by investment (CBI) owners from all over the world. The most upscale, romantic, and exclusive resort in Dominica is Secret Bay, which features six eco-luxury villas on a headland bordered by two tiny beaches.
Just recently, year-over-year statistics for the CBI project, which is a component of the renowned Secret Bay resort, were officially made public. They cover the period from the fourth quarter of 2019 to the second quarter of 2022. In terms of CBI investor growth, overall sales, return on investment payout, ADR, occupancy rate, and resort staff growth during this period, the Residences at Secret Bay have exceeded expectations.
Additionally, the team completed the delivery of new villas and facilities on schedule. With this victory and the sixth year in a row that Dominica has been named the “Best Nation for Citizenship by Investment in the World” by The Financial Times subsidiary Professional Wealth Management, Secret Bay is further cemented as the industry leader in CBI real estate investment prospects.
Here’s the report of success that grows with every passing year
The Residences at Secret Bay observed a rise in the number of investors between the first quarter of 2021 and the second quarter of 2022, moving from 41 to 103. The increase is almost 151%.
A total of US $1 million in return on investment (ROI) was observed between the fourth quarter of 2019 and the second quarter of 2022, with an ROI of 3.6% on average. The percentage grew to almost 7% after additional adjustments for working days were applied.
Between 2019 and 2022, the number of Secret Bay’s villas almost get doubled. By the end of 2024, there will likely be 28 villas, which is an increase from the current number.
In 2021, The Residences sold multi-villa compounds for the US $7.2 million, breaking the previous Dominica price record. Non-CBI transactions amounted to 36% of income.
From an average occupancy rate of 58.9% in 2019 to 90% in 2022, Secret Bay’s operating occupancy rate increased dramatically.
The Average Daily Rate (ADR), which was $957 in 2019 but increased to over $1,000 in 2022, is a significant factor.
The number of employees increased by 215%, from 33 to 104, from the final quarter of the year 2019 to the third quarter of the following year, 2022.
In 2021, The Residences sold multi-villa compounds for the US $7.2 million, breaking the previous Dominica price record. Non-CBI transactions amounted to 36% of income.
In the meantime, Gregor Nassief, CEO of GEMS Holdings Limited and the owner of Secret Bay and the Residences at Secret Bay, stated that the improvement in results from the previous year is a testament to the value proposition of Secret Bay from an investment perspective & sets the stage for future years of growth and profitability for our investors. He added, “We highly appreciate our investors for the dedication of our resort management and development team, which has allowed Secret Bay to reach this level of performance & growth in less than three(3) years. We are enthusiastic and eager about the future”.
Secret bay staff
Secret Bay has not only had terrific performance and growth over the past three years, but it has also added a variety of cutting-edge amenities, such as a renowned restaurant, spa, wellness pavilion, welcome house, lap pool, bar, and many others. Secret Bay has also given the green signal for building various new amenities. The latest developments include a second restaurant and bar, artwork, a promenade, floating platforms, a funicular, a chef’s table, and EV charging stations. For the upcoming year, the owners and administration of Hidden Bay will reveal all these features.
Secret Bay’s Gwiyavye’ Lap Pool and Bar
Additionally, during the past ten years, the resort has received praise for its incredible architecture, service, and experience from international travel and lifestyle journals like Architectural Digest, CNN, Fortune, National Geographic, Outside, Travel & Leisure’s cover, and The Telegraph. The most famous spot in Dominica was named one of Travel + Leisure’s top 500 hotels in the world this year, making it two times in the last three years that it has received that honour. Additionally, it was named the best resort hotel in the Bahamas, Bermuda, and the Caribbean.
The establishment is the first and only one in Dominica to be connected to the exclusive luxury brand Relais and Châteaux. The Residences have recently been featured in international publications, including Architectural Digest, Departures, New York Post, Luxury Magazine, Ocean Home Magazine, Robb Report, Wall Street Journal, and Wealth Magazine. These publications recognised the residences’ distinctive offering, most sought-after amenities, and second citizenship.
The luxury eco-resort business is a growing industry, propelled by the USA and European markets and knowledgeable tourists seeking out the natural world’s beauty. Dominica has the potential to draw in this market, increasing investment interest in Secret Bay.
