The widely famous Secret Bay, a secluded six-star all-villa resort consisting of exquisite and residential-style villas, is a place which is often considered the crown jewel of Dominica. They have recently announced that they have paid out more than 1 Million in returns to investors.
Further, they have announced that Secret Bay has gained more than 100 Citizenship by Investment (CBI) owners from around the globe.
According to the year-by-year reports published by the globally-recognized CBI project, which is part of award-winning resort Secret Bay, The Residences at Secret Bay outperformed the investors’ expectations. The Secret Bay released year-over-year results between the fourth quarter of 2019 through the second quarter of 2022.
They have performed better than expected in terms of CBI investor growth, return on investment (ROI) payout, total sales , ADR, occupancy rate, along with resort employee growth.
Apart from publishing the report, the team has also delivered on-scheduled villas and a number of new facilities. Adding to this success, The Financial Times’ subsidiary Professional Wealth Management has also dubbed Dominica as the no 1 Country for Citizenship by Investment in the World,” Dominica has received this honour for the sixth consecutive year. The bestowing further confirms Secret Bay as the gold standard for CBI real estate investment opportunities.
The report of the Year-over-year growth successes includes:
- Between the first quarter of the year 2021 and the second quarter of 2022, The Residences at Secret Bay increased from 41 investors to 103. This translates to a 151% increase.
- From the final quarter of the year 2019 to the second quarter of 2022, the total Return On Investment (ROI) was US $1 million, with The average Return On Investment being 3.6%. When further adjustments were made for the working days, the number increased to more than 7%. The villa count in Secret Bay doubled between 2019 and 2022. This count is expected to grow further by the end of 2024, reaching 28 villas.
- The operating occupancy rate of Secret Bay jumped from an average of 58.9% in 2019 to 90% in 2022.
- Between 2019 and 2022, the Average Daily Rate (ADR) jumped from US $957 to over US $1,000.
- From the final Quarter of the year 2019 to the third quarter of 2022, the number of employees has recorded a growth of 215%, increasing from 33 to 104.
- Non-CBI transactions accounted for 36% of revenue, which includes The Residences setting a Dominica price record with the sale of US $7.2M multi-villa compounds in the year 2021.
Proprietor of Secret Bay and The Residences at Secret Bay, and CEO of GEMS Holdings Limited, Gregor Nassief, stated, “Our year-over-year results are a testament to Secret Bay’s value proposition from an investment perspective.
He further stated that “this growth sets the stage for future years of growth and profitability for our investors,”
He expressed his profound gratitude to the investors and talked about the commitment of our resort management and development team.
According to Nassief, these factors have aided the world renowned destination in achieving this level of performance and growth in a little less than three years. We are hopeful and excited about the future.
Secret Bay Staff
In addition to having an extraordinary level of performance and growth in the last three years, Secret Bay has also introduced a number of state-of-the-art amenities, including a heralded restaurant, spa, a wellness pavilion, a welcome house, a lap pool and bar and much more. In addition, Secret Bay has authorized the construction of several new amenities.
These new constructions include a second restaurant and bar, art, boardwalk, floating platforms, funicular, chef’s table and EV charging stations. The proprietors and authorities of the secret Bay will unveil all these amenities over the next 12 months.
Secret Bay Gwiyavye’ Lap Pool & Bar
Further, over the last ten years, global travel and lifestyle publications such as Architectural Digest, CNN, Fortune, National Geographic, Outside, the cover of Travel + Leisure, and The Telegraph have recognized the property for its exceptional design, service and experience.
This year, for the second time in the last three years, the most renowned location in Dominica was named one of Travel + Leisure’s top 500 hotels in the world. Further, it was also ranked the #1 Resort Hotel in the Caribbean, Bermuda and the Bahamas.
The property is the first and only in the commonwealth of Dominica to be affiliated with the world-renowned elite luxury brand Relais & Châteaux.
Recently, the authorities of Dominica showcased the Residences of Secret Bay in global publications like Architectural Digest, Departures, Luxury Magazine, New York Post, Ocean Home Magazine, Robb Report, Wall Street Journal and Wealth Magazine, among others. These magazines and publications recognized the place for its impressive offering and its most coveted amenity — alternative citizenship.
