The first is a five star hotel being built in Cooper Jack, costing $220 million. The Government signed a memorandum of understanding with Cooper Jack Development Limited for the project on Thursday, April 2.
The proposed development will consist of a mixed-use 281-bedroom resort which will feature a five-star stand-alone hotel of 100 bedrooms and suites, 76 condominium units and three luxury villas. The total project site area is situated on 20.92 acres on the south side of Providenciales which will diversify more of the tourism away from the Grace Bay core. Construction work is expected to begin later this year and last for approximately two years.
The second resort is a new Ritz Carlton, a $224 million hotel, resort, casino and spa in the Grace Bay area of Providenciales, next to Seven Stars. Construction is set to start late this year and will take approximately three years to complete. The Government press office announced that the proposed development will consist of 124 luxury hotel guest rooms, penthouses, resort residences and associated facilities.
This is a clear sign that the Turks and Caicos has turned the corner and is once again seen as open for business. The local economy will benefit greatly from these large investments into the TCI!