Multi-million dollar resort slated for Turks and Caicos Islands

2014-07-11 09:41

Providenciales — A local company in the Turks and Caicos Islands has signed a deal with the government to build a $100 million (R1bn at R10.71/dollar) luxury resort and marina.

The government said in a statement Thursday that Circle Holdings Ltd. will build the resort on Turtle Cove on the main island of Providenciales. It is expected to create some 300 jobs and generate an estimated $9 million (R96m) a year in tax revenue.

Construction on the 7-hectare property is slated to begin in 2015. The resort is scheduled to open a year later.

The resort will feature 140 suites, 236 meters of shoreline and 396 meters of marina frontage on Grace Bay.

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