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Renewed Interest in Turks and Caicos’ Ritz Carlton Development

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The Ritz Carlton Resort in Turks and Caicos has suffered a stall and set back in the completion of its development and construction. Until now, plans to resume construction have been on hold. The stall in the project is reported to be due to the collapse of its original financial source, Leman Brothers, one of the United State's high-profile financial crashes which has caused reverberations around the world. A lesser cause of delay is said to be the result of a local dispute between building contractors and workers on the project. The construction site of the Ritz Carlton, located on the West Caicos Island, has sat unattended for months.

Turks and Caicos Sun News is reporting that the Ritz Carlton development could be back on track soon due to renewed discussions from foreign investors. The developer of the project, Logwood Development, has been cautious to confirm any plans to resume the development of the resort. However, it appears to be a promising prospect.

This is welcome news for the Turks and Caicos Islands which has suffered from some political uncertainty since the retaking of its government by Great Britain on August 14. The current British government has been criticised for failing to be more welcoming to foreign investors and developers. Tourism is the island's main source of economic dollars.

Recent events for resort developments in the islands has been grim, starting with the stalled Salt Cay project. This month, the posh Nikki Beach Resort was closed and is currently in receivership.

Several developments have been under attack by local blog activists on TCI Journal. Some say that this is due to crown land entitlement for islanders while others say that they attack developers for their failure to employ enough Belongers (islanders), while still others speak of their attacks as politically motivated.

Despite the recent politcal strain, Turks and Caicos Islanders are eager to get tourism back on track and are pushing for the government to properly incentivize foreign investors and developers. The main focus now is to help create jobs and stimulate the economy to create some certainty for the islands.

Other good news for Turks and Caicos has been the announced expansion of the Beaches resort. Furthermore, the development on Dellis Cay appears to be in the finishing stretch. A spokesman for the Dellis Project has publicly debunked rumors of financing trouble.

If all goes well with foreign investment dollars for the Ritz Carlton in West Caicos Island and other resorts getting off the ground, Turks and Caicos will be seeing a job influx and more tourism in the near future. This is the kind of news that puts Turks and Caicos citizens at ease, as well as investors.

So close to completion is this exclusive Ritz Carlton Resort that its website is already up and running.

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  • Jimmy

    “Furthermore, the development on Dellis Cay appears to be in the finishing stretch.”

    I suppose that’s one way of putting it.

  • Clive

    Jimmy: This is the same ‘ol song and dance, your comments. Trying to save face from your past rants? Please just spare us and go tell your alter ego Malcolm that people are not interested.

  • Brittany Jolly

    This is an excellent article Mr. Burke. If the accusations are true or false one must expect that now new investor wants to be attacked the way developers in the Turks and Caicos have been. I read the article by Jay Saunders on your site which i urge all readers to read. It makes allot of sense. I really hope that West Caicos does make a come back. We need some good news for the Turks and Caicos Islands.

  • Brittany Jolly

    Jimmy, are you a Turks and Caicos Islander? you seem to relish the fact that another TCI project may fail. Don’t you see how that will impact on the image of the country and on our citizen’s ability to earn a living or on government’s ability to provide much needed social services? You sound just like the writers on the TCI Journal simply looking to destroy. PLEASE put your country first and look to build. Time to come together people and to do so on the side of our country not against our country.

  • Clive

    Here, here Ms. Jolly. It’s time to stop ripping things apart and time to mend fences. Please help us get the word out. We need more voices.

  • Jimmy

    Brittany, I’m curious. Was the filth written about Shaun Malcolm the other day (and I note reprinted on tciwatch) part of this “coming together”? The best way of improving the country’s image is by getting rid of the crooks.

  • Grace

    Lehman Bros. (not Leman) is misspelled in the article and that gives one pause to consider what else might not be accurate.

  • Jordan Richardson

    So a spelling mistake missed by editors and the writer relates, to you at least, a lack of overall accuracy?

    Shit, I wonder what that says about some of my writting…

  • DG

    I just researched a bit on the scuba diving possibilities around TCI. The prospects look very interesting.

    It is a good thing that tourism is so important on the islands and I really look forward to a few dives there some day. Just a pity it is so tricky getting there from where I am :)

    Nice informative article, together with your article “New Budget Decisions Needed in Turks and Caicos, Focusing on Tourism”. Thanks.

  • Allen

    Jimmy you missed the point. Bringing people together means that we have to expose the person who is tearing us apart. we need to flush out the person pointing the finger and cast him aside if his character and intentions are unpure. I can assure you that the person who is attacking is the person hiding something. It’s time to stand by principles and not let TCI Journal define our principles. Grace — you’re petty. So what–

  • Jimmy

    “I can assure you that the person who is attacking is the person hiding something. ”

    He certainly is.

  • Allen

    “He certainly is.”

    Yes, let’s see what’s he is hiding. I want all Turks and Caicos citizens to get together to find out who and what is behind TCI Journal. Let’s all do our part to flush these guys out. They are forever making nasty accusations- let’s see what these people are about. Maybe it’s time for them to defend some nasty accusations, only these will be true.

  • Jimmy

    They are a group of concerned residents reporting things that the newspapers are unwilling to cover. What else do you need to know?

  • what a diff a year makes

    It turns out that that the reason that the Ritz Carlton survived all of the government take overs of the resorts in Turks and Caicos is because its developer is David Harthsorn who is working with the UK toward the demise of the Turks and Caicos government. This is interesting that Hatshorn’s development didn’t also go into receivership. I doubt he was merely lucky.