Corinthia Group is set to develop a luxury hotel and branded residential project on Grace Bay in Turks & Caicos in partnership with Carolina Partners Ltd. The project, with construction expected to commence in 2027, will reportedly be set on what a press release called “the last remaining undeveloped beachfront parcel on that stretch of Grace Bay.”
The project is led by Corinthia Real Estate Ventures (C-REV), the Group’s real estate investment and development arm, under Managing Partners Marcus Pisani and Alex Chazkel. The completed resort will be managed by Corinthia Hotels.
The development will comprise an ultra-luxury 50-suite Corinthia branded hotel and a collection of fully serviced branded residences including beachfront villas, casitas and condominiums. Amenities will include a spa and wellness center, multiple swimming pools, a beach club, signature restaurants, retail, padel courts and curated lifestyle experiences.
Karen Cummings, a managing member of Carolina Partners Ltd., first visited Turks and Caicos more than 25 years ago, leading to the acquisition of the first parcel of land at that time and additional parcels over the following 25 years.
“The Cummings family has held an extraordinary piece of Grace Bay for more than 25 years and we are delighted to be partnering with them to realise its potential. This project is another important step in Corinthia’s international growth, bringing together exceptional real estate, aligned capital partners, and our development and hotel management expertise.”
“This partnership brings together the Cummings family’s deep connection to Turks & Caicos with C-REV’s development and investment capabilities,” said Simon Naudi, CEO of Corinthia Group. “Grace Bay is a truly exceptional setting, and we look forward to creating a landmark project that reflects the quality of the site and the Corinthia brand,” said Marcus Pisani, Managing Partner of Corinthia Real Estate Ventures.
“This is a rare opportunity to develop a world-class hotel and branded residential destination in one of the Caribbean’s most sought-after locations,” said Alex Chazkel, managing partner of Corinthia Real Estate Ventures. “We are excited to be working with the Cummings family and to be launching this as the first in a series of high-profile projects that C-REV is bringing forward in North America. This project will be added to our existing portfolio of hotel/residence properties in Europe, North America, and the Middle East. The portfolio is growing rapidly with recently opened or announced projects in Malta, Italy (Rome, Lake Como, Tuscany), Maldives, North America and the Middle East.”