The management of Secret Bay and the Residences at Secret Bay has confirmed the off-plan sale of one of its vacation home estates for US$7 million to a North American buyer.
The property comprises of four villas, three pools, four electric vehicle parking shelters, charging stations and other amenities, according to Gregor Nassief, the company’s owner.
As this is an off-plan transaction, the property is yet to be built. Nassief described the location as a prime clifftop area over an acre of land hovering about 200 feet above the Caribbean Sea.
The buyer and his family, Nassief noted, are not economic citizenship investors and the land is located in an area which is in need of over 1000 feet of roadway and services infrastructural development. There are also plans to install a funicular or hillside elevator to access this part of the resort, he said to Dominica News Online (DNO) during a brief exchange on Friday.
“Vacation home buyers like these investors typically spend no more than a few weeks annually in their vacation home and the rest of the time it will be part of Secret Bay’s premium rental inventory and program, thus allowing the owners and Secret Bay to earn income from the property when they are not using it. It is therefore both a lifestyle investment as well as a prudent financial one from the buyer’s perspective,” Nassief explained to DNO.
“The buyer’s investment underscores what I have always felt – that Dominica is the Caribbean’s hidden gem and an ideal location for investors seeking a second home in the safety and seclusion of our Nature Island,” he stated.
Nassief said that the entire team at Secret Bay and The Residences at Secret Bay are “extremely excited about this and aim to create one of the most beautiful vacation home estates in the world.”
The new owners are no strangers to Dominica as they have visited and stayed at the resort several times in the past.
According to their website, The Residences at Secret Bay is a Caribbean real estate component which offers over 40 architectural treehouse-style villas priced from $1.4 million – $4.05 million. These are available as whole or shared ownership and as a qualifying investment for Dominica’s Citizenship by Investment (CBI) program, the website states.
I’m all for progress but that boy is just a show-off. Haven’t built the fing yet he is boasting a $7mil prospect. Well, who owns the shoreline below, can Dominicans use the shore? As unimportant as this sounds, it happened in St. Thomas with devastating results, people had to take it in their own hands, take it to the streets.
“If we knew better” is a clear example of not “knowing better.” How sad!
Are we sure that mr Nassief is the owner of this establishment? On the first of Nov., 2019, DNO published an article, stating that both Secret Bay and Fort Young are part of GEMS Holdings Ltd. As far as this Dominican is aware, the latter is a company based in Dubai, owned by an Indian born billionaire, Sunny Varkey. I don’t want to throw any aspersions on this gentleman but would like some clarification.
ADMIN: The GEMS you referred to is an education initiative that is not registered in Dominica. GEMS holdings Ltd is a local company.
I absolutely applaud Mr. Nassief and his staff for showing Dominicans how it needs to be done. HIGH END TOURISM! people will pay!! We need to do proper marketing (research, product development and refinement, advertising) to ensure that we can tap into the most beneficial markets. We continue to chase cruise tourism as if they are the only tourist we can think of. Our NATIONAL sites are in dire need of an upgrade and polish to compliment the attractions. Many are not even safe, but the forestry division thinks national and heritage sites cannot be “tampered” and adding railings, proper steps will destroy them. many want to do accommodations but lack the skill and knowhow to effective execute (low quality and standards), charge high prices then get mad at DDA because no one want to stay at their place. Mr. Nassief has presented an exceptional product reflective of the gem of an island we have. Clean, Simple, tasteful, spacious villas with excellent customer service. Wel worth it to…
Quote “All we are asking for is an even playing field.” Remember?
This is a great move by Nassief, but nothing to write about. This is an illustration in how the top 10% anywhere in the globe can invest, move money around and make a killing on their returns year after year.
For an island like Dominica with high unemployment and a minimum wage at less than EC$5.00 how does this bode for the rest of the island? Not well at all. The poor are still suffering and these moves does very little to enhance their individual situations.
I see it as a way to further increase Dominica’s footprint in international tourism. With increased attention on Dominica as the the place to be I have no doubt that it will eventually trickle down with more stayover visitors as well as higher demand from cruise passengers to visit The Nature Isle. If they like what they see, they might very well return and invest. Let’s just see where this takes us.
I believe such developments are good as long as Dominica is not forgotten. I mean we know of ties between the leadership and the help given to these business persons, so I hope in return Dominica is getting something back. Dominica’s investments in all these businesses should be done with guarantees of return and recovery.
I saw this transaction making the rounds on a Caribbean News outlet. Mr. Skerrit was in his usual incoherent way praising the deal and touting the strength of the country’s economy.
Here is it that another precious piece of the rock has been snatched by a wealthy foreigner and the Cookie Jar PM making a big song and dance about it.
When locals are in a position to make such purchases then and only then should the squatter who occupies the office of pm should bloviate.
DNO stop doing this! Where are my two comments? Do you only post certain comments or those that actually push hatred?
I look forward to seeing my comment that was posted early this afternoon.
Stop this!
ADMIN: Your comments were posted. Reminder: comments are usually moderated within 24 hours with the possible exception of weekends and holidays.
Are you blind? Anything in particular you want from the Nassief’s?
You, The Truth Be Told, you would not know the truth even if it slapped you in your Labour tribal politics face. Go and change your name!
Whose fools are you? The collective property of the citizens, their passports are sold willy nilly, the passport pushers make millions, build villas, hotels, then sell to wealthy foreigners? What does Dominica and its citizens get? Only a few are milking Dominica dry.
I’ve been telling you all for years, leftovers of the tables of these vultures, that’s what you all be getting.
Making Moves. I love this….
I say if we cannot be grateful to God for his mercies new every morning, how can we be grateful to others.
We need to be grateful if our fellow men does something good but instead there are few of the bloggers here who cannot see any good in anything & anyone. Pure hatred, strife, rumors’, slanders are your agenda. With what is happening in the world, time to seat down, reflect, turn from those evil ways that is actually impacting you negatively. Some of you are turning to be bitter ugly people hurting yourselves. It shows on your faces. Check the mirror.
The Leader of the Opposition, I know was employed with the DCP people. I am sure he benefitted from all the incentives as I think he was a manager there. Rather than tear down, let us build. I tell you, everyone of you is needed. Stop look at the PM. See where you can fit. Time to stop that war on social media, news commentary etc.
We are all Dominicans first. When election comes, we should support our party yet respect each…
Are you for real? Since when an employee benefits from incentives given to his employer? So say the employer got a tax holiday, the employee benefits too? Like, the employee gets paid a higher salary?
According to their website, The Residences at Secret Bay is a Caribbean real estate component which offers over 40 architectural treehouse-style villas priced from $1.4 million – $4.05 million. These are available as whole or shared ownership and as a qualifying investment for Dominica’s Citizenship by Investment (CBI) program, the website states.
Do you find that this contradicts the earlier part of the story which says the investor is not an economic citizenship one?
@The Truth Be Told, who are you addressing this post to and in relation to what comment, connected to this story? Apparently you must be addressing it to your alter-ego. I don’t see more than 3 comments on there at this time and none, I repeat, “none” criticized this accomplishment. The only negative comment is from you. How low will you go to appear to love Dominca more than most. Some would rather see things in Dominca done differently, are you suggesting that they have no right to say so? We as a country have relations with China, but we are not China and free speech is the way things are done here. I’ll respect your freedom to say what you want but don’t put the boogie-man on fictitious enemies when there isn’t any in regards to this story.
I totally agree with you
The Truth Be Told why do you use my name in vain when truth is a stranger to you? God is waiting for you! Go and change that name!
Gregor Nassief again I commend.
Great people you are with foresight & indeed a love for Dominica, the well being of the people of Dominica.
Blessings have already been poured on yourself and your dad – The great Mr. Phillip Nassief from the people of Mahaut & all those who worked & experienced what working as share participators and their well being. The employees will never stop talking about their experiences at DCP/Refresh and your company’s involvement in community development. Mahaut Day Care, the Home etc.
I really pray that persons who are so negative will learn from the way you people love, worked hard to help develop this beautiful country and its people. – Copra suppliers, employee share participation; incentives, bonuses, scholarships etc.
Hey let my comment flow. Learn something. Stop being negative. Love, love, gratefulness is my motto. To God first
The Nassiefs deserve a standing ovation. Learn from their commitment to this country’s development. Stop hate
The previous generation of Nassief’s were different people who over the years showed a certain amount of drive towards the development of our country. Today’s generation isn’t interested in that, they are only interested in No.: 1. They even take the odd CBI instead of giving back.