DOMINICAN REAL ESTATE BOOMS AS SECRET BAY RESORT MAKES 100TH ROI PAYOUT
The Commonwealth of Dominica's booming real estate sector is capturing the attention of investors across the globe. Recently, the island's popular Secret Bay resort celebrated its 100th return on investment payment to CBI investors.
The six-star property operates under Dominica's Citizenship by Investment (CBI) Programme, enabling wealthy investors to purchase a share in exchange for second citizenship. Demand for Secret Bay has led to Phase I of Residences, the shared ownership model, being sold out with Phase II soon to follow suit. This year will also mark the 10th anniversary since Secret Bay opened its doors. Over the last decade the property has been celebrated in some of the world's most prestigious travel and lifestyle publications including Travel + Leisure, CNN and Architectural Digest. Secret Bay also boasts being the only CBI property to be awarded the Green Globe certification – the highest standard for sustainability worldwide.
The island's tourism product has skyrocketed over recent years as internationally renowned hoteliers like Marriott and Hilton have flocked to Dominica to set up operations.
Aside from mainstream tourism, Dominica has become a regional leader in eco-tourism with much of its real estate centring the natural environment in every aspect from construction to its daily functions.
"We are the only CBI project throughout the region to have gained such certification. Sustainability is at the heart of everything that we do. A few examples include the reuse of wastewater for drip irrigation, the notion of single use plastic throughout the property, and a low carbon footprint," Gregor Nassief told Plan B, a podcast by CS Global Partners, a leading international marketing advisory that specialises in citizenship solutions.
However, Secret Bay isn't the only property in Dominica that has amassed strong global appeal. The island's tourism product has skyrocketed over recent years as internationally renowned hoteliers like Marriott and Hilton have flocked to Dominica to set up operations.
Aside from mainstream tourism, Dominica has become a regional leader in eco-tourism with much of its real estate centring the natural environment in every aspect from construction to its daily functions. Properties like Jungle Bay and the highly anticipated Sanctuary Rainforest resort offer holidaymakers and investors a balance between a luxury experience whilst still championing sustainability.
Most importantly, these properties also come with the opportunity to gain second citizenship. In today's climate, a second citizenship has evolved from being a luxury to becoming a necessity. From the global health crisis to geopolitical instability, many are looking for quick solutions that promise safety for their families.
Established in 1993, Dominica's CBI Programme has been named the world's best route to second citizenship from the annual CBI Index – conducted by experts at the Financial Times' PWM magazine. Those who choose Dominica have the option of either investing in a national fund or through the purchase of real estate. Once an application is approved, investors gain access to increased global mobility, alternative business prospects and a lifelong second home.