Residences

1. What services are included in ownership?
The condominium residences offer unique ownership experience within a luxury resort and spa setting. Owners have the option to include their units in the resort’s nightly rental inventory, providing an additional avenue for return on investment. As owners, they enjoy access to all resort facilities and amenities.

2. Do the residences come furnished?
Owners have the exclusive opportunity to purchase a meticulously crafted and custom-designed furniture package tailored for each unit, ensuring a cohesive and luxurious living space.

3. What will the furniture package include?
Each residence benefits from a professionally curated furniture package developed by an esteemed international design group, enhancing the overall aesthetic and comfort of the living spaces. The furniture package will provide a full complement of beds, tables, consoles, chairs, sofas, lamps, drapery, mirrors, soft furnishings, artwork, planters, televisions, audio, and outdoor tables, chairs, loungers.

4. What is the cost of the furniture package?
The furniture package is typically purchased approximately 6 to 9 months prior to the opening of the property. The estimated cost is 8% to 10% of the purchase price and will provide owners with a carefully curated and custom-designed living space.

5. Are the condominium residences part of a Home Owners Association or Strata Corporation?
Yes, each condominium residence is associated with its own Strata Corporation. This organizational structure ensures efficient ownership and maintenance of common areas. The Strata Corporation oversees common area upkeep, and centrally managed utilities like refuse removal and elevator maintenance.

6. Is the beach private?
While the stunning Turks and Caicos beaches are accessible to the public, our property will feature a private upland section of the beach with exclusive cabanas, sunchairs, and umbrellas for Kempinski owners and guests. Our dedicated beach-front team ensures personalized service, including food and beverage offerings from the beach bar.

7. Will there be security on the property?
The property boasts twenty-four-hour security to prioritize the safety and well-being of our esteemed guests and residents.

8. Will pets be allowed?
Subject to rules established and approved by management and by the regulations of the Turk and Caicos Islands.

9. Do I have to rent my condo?
Participation in the rental program is mandatory. Owners are always welcome to enjoy the benefits of their residence and spend time at the resort. If an owner participates in the rental program they will have access to their condo under the terms of the rental program.

10. Do you have a Kid’s Club?
Kempinski will offer a Kids Club program for children to connect with the natural beauty surrounding them. Outdoor and indoor activities will cater to diverse interests, promoting exploration, learning, and enjoyment.

11. When will the project be completed?
The estimated completion for this exciting project is targeted for Q1 – 2028

Villas

1. Do the Villa Owners have access to the Hotel services and Amenities?
Yes, villa owners enjoy full access to all the exclusive amenities and services offered by Kempinski Grace Bay.

2. Do the Villas come furnished?
Each villa provides owners with the option to purchase a carefully curated and custom-designed furniture package, ensuring a harmonious and luxurious living environment.

3. Who manages the construction of my villa?
The construction of the villas will be carried out simultaneously with the resort project, led by the same reputable general contractor. Day-to-day management will be overseen by the JTRE development team.

4. When will the project be completed?
The estimated completion for this exciting project is targeted for Q1 – 2028

Management

1. Who will manage the residences?
Kempinski Hotels, Europe’s most established luxury hotel company, renowned for its hospitality and shareholder support for over 125 years, will manage the residences and villas. Bringing old-world luxury to the world’s greatest beach, Kempinski is committed to creating rich, meaningful, and memorable experiences for every guest.

2. Who will manage rentals of the residences?
The rental program will be exclusively managed by Kempinski Hotels, ensuring a seamless and high-quality experience for both owners and guests.

3. Are owners required to participate in the rental program?
Yes, owners are required to participate in the Kempinski Grace Bay rental program. This ensures a consistent level of amenities and services, including Kempinski-curated dining, beverage, spa, and service experiences. Rental revenue will be split on a 50/50 basis, contributing to premium amenities and helping lower the cost of ownership.

4. If I participate in the rental program, is there a limit to the number of days for Owner usage?
No, owners have the flexibility to use their residence at any time based on the rental program requirements.

5. May owners hire a third party to rent out their residence?
No, to maintain the highest standards, residential rentals will be exclusively managed by Kempinski Hotels.

6. What is the average number of days rented per year at similar resorts in this location?
According to travel data issued by STR (Smith Travel Research), the average occupancy rate for similar competitive resorts in Q1 2024 was 87%.

7. Who will set up utilities such as power, water, etc.?
All utilities will be provided and managed by the management company.

8. Do I have to be present on the island to sign all the documents?
No, physical presence is not required. Your local legal advisor can facilitate a seamless remote closing process.

Financial

1. What are the price ranges of Condo Residences and Villas?
Condos: Please consult with our sales team for the most up-to-date information.
Villas: Price ranges for Villa homesites are currently being finalized. Please consult with our sales team for the most up-to-date information.

2. What is the strata fee?
The anticipated Strata fee is estimated to range between USD$18 and US$21 per square foot per year excluding insurance, based on current luxury resort benchmarks, aligning well with the Island average.

3. What will the rental split be?
The owner retains 50% of the adjusted rental income, with the remaining 50% going to the management company, aligning with standard practices on the island.

4. Are there any taxes in Turks and Caicos?
There is a one-time stamp duty applicable on the real estate purchase price, amounting to 10% of the purchase price for purchases over US$500,000. This is payable at the time of title transfer. Notably, there are no annual property taxes and no income taxes in the Turks and Caicos Islands, providing a favorable tax environment.

5. Will I own fee simple? Do I need a local trustee to hold title?
In the Turks and Caicos Islands, real estate can be held as freehold title absolute or leasehold. Strata titles are fee simple and are commonly used as the structure for condominium developments. A local legal advisor can guide you on the best practices for purchasing property in Turks and Caicos, ensuring a seamless and secure process.

6. Progress Payment Schedule:

Branded Residences:
• 10% upon execution of Sale Purchase Agreement (SPA)
• 15% on commencement of construction (expected October 2025)
• 15% on completion unit’s floor slab (expected April–October 2026)
• 15% on completion of the unit’s building roof (expected August–November 2027)
• 45% on closing and certified completion (expected January 2028)

Villas:
• SPA of 0.5 Acre Villa Lot (Price TBD)
• Construction Contract:
• 10% of construction contract due upon closing the SPA
• 15% on commencement of the construction
• 25% on completion villa ground floor slab
• 25% on completion villa roof
• 25% on closing and certified completion

Why Invest in the Turks and Caicos Islands?

1. Strategic Location and Accessibility:
• 3-hour flight from New York and 1.3 hours from Miami
• Multiple daily commercial flights from major international cities

2. Private Aviation Convenience:
• Two FBOs: Provo Air Center and Blue Heron

3. Government Stability:
• British Overseas Territory following UK law
• Business-friendly governance

4. Legal and Financial Security:
• English Common Law system
• Major Canadian banks present

5. Currency and Language:
• US Dollar is the official currency
• English is the official language

6. Economic Strength and Safety:
• High Caribbean GDP
• No property, capital gains, or income tax

7. Modern Healthcare:
• Cheshire Hall Medical Centre in Providenciales

8. Property Ownership Advantages:
• No restrictions on foreign ownership
• Fee simple ownership possible

9. Natural Beauty and Climate:
• Year-round sunshine
• Crystal-clear waters and award-winning beaches

10. Proximity and Recognition:
• Close to North America
• Frequently voted a top travel destination

Invest in the Turks and Caicos Islands – where unparalleled beauty meets strategic advantages for discerning investors.