Saint Lucia: Ocean Grande Resort (DBT)
The 325 acre Ocean Grande Resort development is situated in the pristine Fond d'Or Bay with a private beach, in the center of the east coast of the Caribbean island of Saint Lucia. The Ocean Grande Resort project development plan includes a Gansevoort Hotel managed by Gansevoort Luxury Hotels, a total of 369 resort residential units and amenities featuring restaurants, retail and Spa as well as the Grande Racquet Club offering 16 tennis courts.
A stunning beach-front site, the Ocean Grande Resort is nestled into Fond d’Or Bay flanked by a mountain range preserve. The 325 acre resort offers historic amenities and sandy beaches with incredibly beautiful views of the Atlantic Ocean. The heart of the development is a 150 key Gansevoort luxury hotel with multi-family hotel residences that include 38 casitas, 38 beach villas and 10 townhomes. Gansevoort Hotel Group is known to provide an intimate and high-end boutique design, while offering an expansive variety of amenities and entertainment choices. Furthermore, the development has a private enclave, which is designed to host 57 single-family residences with ocean view, 215 multi-family tennis cottages as well as 11 model home center resort residences. The resort development will be complimented by a botanical garden park, beach restaurant with patio, a wedding gazebo, a beach club and much more.
A distinctive highlight is the Grande Racquet Club, a celebrity amenity offering an international recognized recreational racquet sports complex for residents, hotel guests, and island visitors. Its customized outdoor racquet courts, Paradise Spa & Wellness facility, expert tennis services and professional staff provide the perfect social, recreational and sports venue. The Grande Racquet Club experience will attract those seeking a vacation, residential resort or day retreat offering relaxation and rejuvenation as well as the ultimate tennis experience.
The Ocean Grande Resort’s oceanfront site is located in a quaint village setting adjacent to Fond d’Or Heritage Park in Dennery, where the famous annual Saintt Lucia Jazz Festival takes place. Saint Lucia is known for its beautiful beaches mixed with dramatic green mountain ranges. The island is one of the most accessible in the region, with direct flights from the US, Canada, Germany, and the United Kingdom and is home to numerous marinas for private yacht owners. The island nation has been able to attract foreign business and investment, especially in its offshore banking and tourism industries. Saint Lucia is ranked 3rd out of 29 countries in the South and Central America/Caribbean region for its economic freedom status.
Accessibility: By Air: The island of Saint Lucia has two airports. Hewanorra International Airport at Vieux Fort in the south serves international flights. George F. L. Charles Airport in Castries, located in the north provides transfer to other Caribbean islands. It is a 3½ hours flight from Miami. The destination is serviced by United Airlines, American Airlines, US Airways, Delta; and Air Canada. Direct flights are offered from and to Europe/ UK by British Airways and various charter airlines from major European hubs. Inter island air service is provided by Air Caraibes, Caribbean Airlines and Air Antilles Express.
Highlights: Saint Lucia is a very attractive tourist destination and considered to be the most beautiful island in the Caribbean. Famed for its natural beauty, hospitality and warmth of its people, Saint Lucia presents a unique value proposition to secure a solid return on investment. Due to its volcanic history, dramatic topography has endowed St Lucia with more mountains than many other Caribbean islands illustrated by it’s the landmark twin peak Pitons. Saint Lucia is also one of the few islands in the world that boasts a drive-in volcano. Other attractions include Sulphur Springs, the Botanical Gardens and Pigeon Island National Park, which is home to Fort Rodney, a historic British military base.
Tourism: Tourism accounts for 65% of the economic sector in Saint Lucia and contributes to 10% of the island’s GDP including 20,000 jobs. The economic outlook for tourism is steadily growing as the island is gaining more and more popularity among international tourists and cruises lines due to its tropical climate, dramatic, lush scenery and picturesque beaches and resorts. In 2013, the visitor growth rate increased by 3.9%, to a total of 800,000 tourists a year.
Real Estate: The property market in St Lucia grew dramatically for many years up until the global financial crisis of 2009. The market cooled in response to the economic slowdown, but has begun to recover as the economy in the USA and Europe has improved. Property prices in Saint Lucia remain highly attractive and generally lower than for comparable homes for sale. The government of Saint Lucia has recently introduced an Economic Citizenship Programme to stimulate investment in Saint Lucia's real estate market and the economy in general.
Economy: By economic standards Saint Lucia is ranked 3rd of the 29 countries in the Caribbean region and scores above the world average for economic freedom. Currently Saint Lucia ranks # 5 in the CARICOM Region for favorable business climate. For seven consecutive years Saint Lucia also ranked # 100 in the World Bank’s «Doing Business Report”. Travel & Tourism have attracted capital investment of $209.4 million in 2013 and is expected to reach $306.9 million by 2024. Inflation has been relatively low, averaging 5.5%. Saint Lucia's currency, the East Caribbean Dollar (EC$), is shared among members of the Eastern Caribbean Currency Union (ECU). In 2003, the government began a comprehensive restructuring of the economy, including elimination of price controls, which has benefitted international investors seeking to commit capital to various business sectors.
Incentives: The Saint Lucia government has established a number of incentive programs to attract foreign investment through Invest Saint Lucia. The Tourism Incentives Act provides for earnings to be exempt from income tax in tourism projects while also allowing for customs duty exemptions. The Act permits the importation of materials and equipment to Saint Lucia free of customs duty, and consumption tax of materials and equipment used exclusively in connection with a tourism project. The Free Zone Act is designed to promote export development and foreign investment projects in a bureaucracy-free, duty-free, and tax-free environment for prescribed activities. The Fiscal Incentives Act provides tax holiday of up to 15 years for approved projects. The project concession agreement has been negotiated.
Tax: Government policies provide liberal tax holidays, waiver of import duty and consumption tax on imported plant machinery and equipment, imported raw and packaging materials, and export allowance or tax relief on export earnings. Local enterprises generally welcome joint ventures with foreign investors in order to access technology, expertise, markets, and capital. Companies registered in Saint Lucia have the right to re-patriate all capital royalties, dividends and profits free of all taxes or any other charges on foreign exchange transactions. Thus, Saint Lucia can be described as a country with beneficial tax policies with no Value Added Tax (“VAT”), no capital gains tax, no inheritance tax, and no estate tax, coupled with the many programs enacted by the government. Offshore Investment: Project may represent a government approved investment opportunity in equity assets in designated locations.
Visa Investor Program: Participation in offering may provide business investors with access to an investment country immigration investor program (i.e. EB5, CIP, CBI, Golden Visas). To obtain a safe haven residency or citizenship under business immigration, it is very important to establish “business ties” with that country. A passive investment, such as buying a commercial or residential real estate property and other investments may qualify the investor for a business immigration program.
Available Conversion Options: Single & Multi Family Residence, Vacation Ownership
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GRANDEINVEST & THE GRANDE ORGANIZATION: GrandeInvest is an advanced technology based real estate platform offering financial participation in sports celebrity branded and international prime real estate worldwide. It is a product of The Grande Organization LLC (TGO) based in New York, New York. The Grande Organization markets and develops integrated luxury real estate, investments, and related branded sports amenities. The Grande Organization’s real estate portfolio includes Grande Club and Residences, Grande Residences, Grande Resort, Ocean Grande Resort, Harbour Grande, and Grande Mountain Villas. Its development focus is on properties in key metropolitan cities and waterfront destinations throughout the Americas, the Bahamas and the Caribbean, Asia, Australia, Great Britain, Europe, and the Middle East. Qualified investors can benefit from investments in mixed-use developments, hotels, retail, SPAs, restaurants, as well as residential and vacation properties.
RESORT HOTEL PARTNER: TGO has entered into a partnership with Gansevoort Hotel Group LLC. The company has received industry wide accolades from leading industry magazines for its exquisite architecture and service concept. The hotelier has made its name by developing the first urban resort in New York as well as the first luxury hotel in the city’s Meatpacking District in 2004. Gansevoort has identified The Ocean Grande Resort-St Lucia as its next destination luxury resort project. Gansevoort Hotel Group is a brand/subsidiary of WSA Management Ltd, a real estate development and management firm whose principals have more than 70 years combined experience in the real estate trade, and have developed and/or owned more than seven million square feet of office and industrial space, 2,000 apartments, and 2,250 hotel rooms.
PUBLIC DEVELOPMENT PARTNER: A partnership has been entered into with the Saint Lucia Government, through Invest Saint Lucia to develop The Ocean Grande Resort Project. Invest Saint Lucia is the principal investment promotion agency of Saint Lucia and is the trading name of the National Development Corporation. For almost four decades, Invest Saint Lucia has been attracting Foreign Direct Investment to Saint Lucia. Invest Saint Lucia operates on policies set out by its Board of Directors which are implemented through a dynamic management team located in Saint Lucia and Miami.
DEVELOPMENT TEAM: MOSS Construction, is one of the largest general contractors in the Southeast and Southwest United States; planning firm Land Design, which has a 30-year history of international vision making and site planning; the architectural partnership of FDG.USA/RT Consult/Allen+Philip Architects; FDG.USA is a full service planning, architectural design firm with international experience and responsible for design management and construction of resort projects in the United States and overseas. Europe based RT Consult is a 50 member architectural and design studio with a comprehensive practice covering the European Union, and the Americas. Allen+Philip Architects, focusing primarily on hospitality and urban mixed-use developments, including destination resorts, hotels, signature spas, casinos, golf and country clubs, specialty retail, and restaurants, have been recognized for their design capability with more than 40 design awards; and civil engineering consultant George F Young Inc, founded in 1919, provides a team of technicians and specialized Civil Engineers. Rossetti Architects is the nationally acclaimed sports architect which designed Sony, Palm Springs, Saddlebrook and US Open/Arthur Ashe Tennis Stadiums, providing designs service for each tennis sports facility; Peter Burwash International, which operates 70 tennis complexes worldwide at the top resorts and private clubs from Caribbean to California, and from Singapore to Hong Kong to Europe and Dubai will provide operational and staffing resources. PBI facilities are located at Four Seasons Resorts, Ritz Carlton Hotels, JW Marriott properties and many other global luxury resorts and private clubs such as Badrutt’s Palace Hotel in St. Moritz, Switzerland.