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.