Gov.Ric Todd and Amanyara signed an Agreement

 

Turks and Caicos Signs Agreement for Amanyara Resort Expansion

Above: the Amanyara Resort in Turks and Caicos

By the Caribbean Journal staff

Turks and Caicos Islands Governor Ric Todd has signed a multi-million-dollar agreement with Caicos Resorts Limited, the owner of the Amanyara resort.

The agreement involves a lease by Caicos Resorts, Ltd of 17 acres of Crown Land for a $3.04 million down payment and annual rental income.

“This new investment in the TCI shows that business growth does not always come from inward investment,” Todd said in a statement. “While business conditions remain challenging here, we are in a much stronger position than many other parts of the world, as the recent publication of the country’s GDP figures showed. I remain confident that we will see further investment here in the TCI in the next few months.”

The land will be the site of an expansion of Amanyara’s villa programme, along with a new spa and tennis centre.

“The increased demand of Amanyara Villas over the past years has inspired us to extend the portfolio further,” said Caicos Resorts’ Michel Neutelings. “We are happy to also boost the profile of Turks and Caicos and create a significant number of jobs for the local economy with this expansion.”

The lease is for a term of 999 years.

Comments

  1. Andrew Gaudet says:

    is that 999 years or 99 years?

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: