The Turks and Caicos government is reporting that the country should have some of the strongest GDP growth in the region in the next few years. The news will likely give another boost to the already strong performance of the Turks and Caicos real estate market.
The Strategic Policy and Planning Department is forecasting that economic growth is expected at a rate of 4.4 percent in 2016, 4.3 percent in 2017, and 5.3 percent in 2018.
The department’s spokesperson, Shirlen Forbes, noted that growth would largely be driven by the tourism and real estate sectors, with a spin-off effect in retail and wholesale industries.
For more information on the forecast, read the full article in the Caribbean Journal here.
The Shore Club Turks and Caicos is one project that has boosted the performance of the real estate industry. Phase one of the $100 million project is scheduled to open in 2016.
Located on 2.5 mile Long Bay beach, the resort consists of 38 beachfront condos and six, 8600 square foot luxury villas. Beachfront condos start from $1.65 million. Villas start from $5.5 million.
It is the third project for the Hartling Group, a development company on Providenciales. Other Hartling group resorts include The Sands on Grace Bay and The Palms.
For more information on The Shore Club visit www.theshoreclubtc.com.