The Hartling Group, Turks and Caicos Islands, and DECCO Ltd., Cayman Islands, have announced a strategic partnership to commence construction on the luxury condo resort project The Shore Club in Providenciales, Turks and Caicos.
DECCO Ltd. is a privately owned construction management and services company. Based in the Cayman Islands, it is part of the Dart Enterprises organization.
The Hartling Group is a privately owned luxury recreational property development firm located in the Turks and Caicos Islands.
DECCO will provide construction management services commencing in late fall 2013 for the first phase of the nine-acre Shore Club development on exclusive Long Bay Beach, which includes 38 luxury condos and associated amenities with a market value nearing US$80 million. The Hartling Group has sold approximately 60% of Phase One.
The Shore Club will be one of the first major projects to commence in the Turks and Caicos Islands since 2009 and is seen to be a reflection of bolstered investor confidence in the country. When complete, The Shore Club will bring to market in excess of US $100 million of oceanfront real estate, offering condominiums ranging in price from US $1.3 million to $4.5 million, private villas starting at US $5.4 million, as well as a fully appointed resort with spa, restaurants and other recreational facilities.
Stan Hartling, CEO and founder of the Hartling Group, commented on the significance of the newly-formed relationship with DECCO Ltd. "Having DECCO as a strategic partner is an immense sign of confidence in the Shore Club product and the Turks and Caicos Islands," he explained. "We are thrilled to collaborate on this project with another organization that brings the same passion for construction excellence, intelligent design and customer service to every project."
DECCO confirmed the project is part of a new regional focus for the Cayman Islands based company. "We are expanding our active investment portfolio, and we have a particular focus in the Caribbean region on opportunities in tourism-led markets. We are extremely pleased to be working with such a well-established local developer in the Turks and Caicos Islands," explained DECCO CEO Cameron Graham.
Meanwhile, Mr Hartling expects that the Shore Club deal will be a leading market indicator of further projects to be announced in Turks and Caicos in the near future. "Our development team is extremely proud of the accomplishment we have made in making this project a great success and, most importantly, we are thrilled to be leading the way to what we see as a very bright future for the Turks and Caicos Islands," he stated.
The Hartling Group has been successfully developing large scale condo resort projects for over 16 years, including the Sands at Grace Bay and the international award-winning, Regent Palms.
The funding for The Shore Club project was arranged by Robi Das, Managing Director of NGKF Capital Markets.