Approved as an investment property by Dominica’s Citizenship by Investment Programme, the award-winning eco-luxury development, Jungle Bay, which is set to re-open in October 2020, has continued the building of its phase one and phase two developments throughout the pandemic with 60 new investable eco villas due to complete early 2021.
Since coronavirus kicked in earlier this year, Dominica’s Jungle Bay development, which features 40 completed eco villas and 60 more in construction has continued its development with work ongoing throughout the pandemic.
Talking on his radio talk show recently, Prime Minister Roosevelt Skerrit explained how Dominican-born entrepreneur Sam Raphael, the CEO of Jungle Bay, had reassigned people to different aspects of the project’s construction during Covid-19 in order to retain employment.
And in so doing, he has managed to “complete the construction of the additional villas, residences there”, explained PM Skerrit, adding, “we now have more rooms at Jungle Bay than we had at the start of Covid-19 in February”.
Phase 2 Jungle Bay Eco Villas to be complete in 2021
Set to re-open for business in October, with phase one of its development complete, the CBI-approved development, Jungle Bay Eco Villas, is expected to complete phase two by the start of 2021, when it will be fully operational.
While the recently completed phase one delivered 40 villa suites, along with restaurants, a spa and yoga studios, phase two will deliver 60 new villas. All luxury eco Jungle Bay villas are for sell as real estate investments under Dominica’s CBI Programme.
Sam Raphael told CS Global Partners that CBI investments in Jungle Bay phase one are now being used to fund the completion of phase two.
“The citizenship by investment programme has been a means to fund the development of the project financially,” he said. “CBI resources became a tool to improve the lives of the people, and the people recognise it.”
One of the world’s top eco-friendly resorts with proven ROI
Located along the southwest coast of Dominica at a beautiful, historic location, Jungle Bay Eco Villas has made a name for itself as one of the world’s top ecologically friendly resorts.
Designed by the Caribbean’s leading boutique resort architectural firm of OBMI, the resort is close to some of Dominica’s most popular tourist attractions, including great dive locations, snorkelling sites, beaches, hot mineral springs, hiking trails, a zipline and the first two segments of the Waitukubuli National Trail, which is the Caribbean’s longest hiking trail.
Jungle Bay vacation villas start at US$255,000 for a Sea View Villa, which meets the minimum real estate investment threshold under Dominica’s CBI Programme of US$200,000, with Jungle Bay themselves both maintaining the villa and marketing them to guests on behalf of investors.
Jungle Bay is one of the few CBI developments with a successful performance history, with past performance indicating a greater likelihood of a successful ROI.
Dominica’s Citizenship by Investment Programme
The second longest running CBI Programme in the industry (after Saint Kitts), at 27 years old, Dominica’s CBI Programme has, in recent years, become known as one of the world’s most efficient and transparent CIPs, combining extensive due diligence with efficiency, speed, affordability and reliability.
The latest CBI Index 2020 (issued by a Financial Times publication and released on September 7) sees Dominica once more emerged with the top score (90%), making it the world’s best programme, combining as it does the balance of “an excellent reputation for meeting the needs of investors with strong due diligence, minimum investment outlay, efficient processing, and a renewed focus on family reunification”.
From its affordability (it is currently the cheapest option) to its speed of processing (two months) and family friendliness (Dominica recently expanded the scope for eligible dependents), not to mention that Dominica has increased the power of its passport (with China set to join) giving citizens even more freedom of movement.
In terms of citizenship by investment options, investors can either make a non-refundable donation of US$100,000 if single and US$200,000 for a family of four to Dominica’s Economic Diversification Fund (EDF), or make a real estate investment in a government-approved property, like Secret Resort, of minimum US$200,000 and can re-sell after three to five years of receiving citizenship, dependent upon purchase and re-sell.
Find out more about Dominica’s Citizenship by Investment Programme with our country profile by clicking here