LONDON--(BUSINESS WIRE)--Yesterday, the Government of Dominica signed an agreement with the luxury boutique Secret Bay Residences to expand the resort using funding from the Dominica Citizenship by Investment (CBI) Programme. The contract includes 42 additional villas and construction is expected to commence within 90 days. The development is a sign of increased investment in the country and will bring new jobs for residents.
Before the relaunch of the resort in November, Secret Bay welcomed international acclaim from publications and travellers alike. The hotel has been awarded for its hideaway aesthetic and romantic charm ranking first in the 2017 World Luxury Hotel Awards. Secret Bay recently introduced six new luxury villas upon its reopening. Each villa has a private plunge pools, a new sit-down eatery, and a signature spa and yoga pavilion at a new location. Following the expansion, the resort has continued receiving widespread recognition in the luxury hotel industry, including from Trip Advisor and Conde Nast.
Dominican Prime Minister Roosevelt Skerrit commented on the new development and celebrated the benefits it will bring to the local economy. “The project comprises of 42 villas and at the end of completion will provide direct, permanent, sustainable jobs for 120 Dominicans.” Sustainable investment is a Government priority, particularly for the CBI Programme. Under this project, investors’ monies will contribute towards the long-term growth of the island.
The CBI Programme offers investors and their families second citizenship in return for making a contribution to a Government development fund or investing in real estate. The Programme currently ranks at number one worldwide according to the Financial Times’ CBI Index. Secret Bay is one of real estate options investors can select under the Programme. Three new offerings - Anichi Resort and Spa, Cabrits Kempinski and Jungle Bay – will launch later this year. These are expected to prove particularly attractive to CBI businesspersons who often favour high-end properties. With these new projects on the way, not only will native citizens benefit from increased employment opportunities, but economic citizens continue to have a variety of trusted options to invest in.
International legal advisory CS Global Partners is government-mandated to promote Dominica’s Citizenship by Investment Programme.