An ordinance that would allow for the selling of fractional properties within the Turks and Caicos Islands is likely to finally pass this summer. However, already ahead of the curve is The Alexandra Resort, which has begun selling fractional ownership of both one and two-bedroom condominiums with a view of the ocean. The units are being sold in six-week fractions. With a starting price of $89,900, the fractional units at the luxury Grace Bay resort hope to set a precedent for the industry.
“We are accepting reservation agreements now, in anticipation that the ordinance will soon pass,” said Washington Misick, the developer of the project. “We expect demand for these affordably priced oceanfront units to be brisk, and we have a limited inventory of units available on a fractional ownership basis.”
Misick is currently the only developer in Turks and Caicos to offer a shared ownership product, but he understands the nature of vacation ownership and what types of services are needed for such a project to achieve success. “Our management team understands how to serve the fractional ownership market. Whether our owners use, rent, or enhance the time they own at The Alexandra, we have the skills and experience to look after their individual needs.”
Prospective fractional unit owners at The Alexandra can enjoy membership with vacation exchange network Interval International. The Miami-based exchange company has resorts in over 75 countries, including properties in Mexico, Spain, France and Australia. The company also has a number of properties in destinations within the United States.
Fractional owners at The Alexandra Resort can also expect a number of benefits to come with their membership, including personal storage lockers, a daily maid service, staging and concierge services and a professionally-managed rental program. Owners will have access to the resort’s facilities, including the large free-form swimming pool, numerous tennis courts, a fitness room, spa and the popular Mango Reef Restaurant.
