Press Release: Savills Launches New Phase At $100 Million St Kitts Real...

Press Release: Savills Launches New Phase At $100 Million St Kitts Real Estate Resort

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St Kitts & Nevis October 2009 –  Luxury tropical island lifestyles are becoming more accessible with the latest phase launching at $100 million St Kitts real estate development Ocean’s Edge Resort.

International property group Savills has sold virtually all of phases 1 and 2 at the 40-acre resort overlooking Frigate Bay – paving the way for phase 3’s new beachfront penthouses and poolside cottages.

St Kitts has been named as one of the top 20 islands on which to live worldwide and two years ago the island made the list of 10 great places to buy property.

Ocean’s Edge will comprise 190 condominiums plus 32 lots for bespoke villas. Prices start at mid-$300,000 – with all the advantages of tax, citizenship and visa benefits of second passports under the well-respected St Kitts’ Citizenship by Investment Programme.

Phase 3a of the vacation home development includes:

  • Bespoke Villas – 32 villa lots starting from US$200,000 with a cost of approximately US$300 per square foot to build a bespoke villa with fantastic ocean views
  • Poolside Cottages – 10 two-bedroom semi-detached, single-storey cottages (approx 1,825 square feet), each with their own small garden and private plunge pool at US$525,000
  • Hillside Condominiums – two-bedroom condominiums with plunge pools (approx 1,500 square feet), overlooking the ocean, from US$575,000
  • Two-bedroom Beachfront Condominiums, approx 1,650 square feet, from US$609,000
  • One-bedroom Beachfront Condominiums – 800-900 square feet, from US$359,000.

Work on the luxury resort is progressing well. Upgrades to the St Kitts real estate development’s approved masterplan include a large central fabulous ornamental pool area.

Ocean’s Edge will include a beachfront restaurant surrounded by pools plus a fitness centre, tennis courts and landscaped recreation spaces.

The ambitious St Kitts real estate resort is being masterminded by the Cable Bay Hotel Development Company (CBHDC). Completion for the entire project is scheduled for late 2012.

Ocean’s Edge Regional Sales Director Damian Hamp-Adams said: “We are very excited about the updated masterplan with the additional properties now available complemented by a landscaped water feature.”

“Initial feedback on the revised masterplan has been extremely positive and we are confident that these revisions and enhancements will add great weight to the success of the sales program.”

Several completed homes are already being rented out particularly to key workers for long term rental.  Ocean’s Edge offers rental and property management services to owners whose properties are completed prior to the resort operator coming on board.  This program is meeting growing demand on the island for high quality rental accommodation.

Mr Hamp-Adams added: “The economic citizenship program has also been a key factor in driving interest in Ocean’s Edge and we expect this to carry on through 2009 and 2010.”

St Kitts’ Prime Minister and Minister of Tourism, the Hon Dr Denzil L Douglas, toured the resort in early September.

He said: “All this is happening at a time when there is a global economic downturn so there must be something tremendous about this place that can influence an investor to put over a million US dollars into a villa of this kind.”

Clients with an interest in purchasing property can participate in a three-night subsidized inspection trip to experience St Kitts and Ocean’s Edge first hand. For more information, please contact Pauline Bonanni, Savills Select Resorts, +44 (0)1202 765011, info@oceansedgestkitts.com, www.oceansedgestkitts.com.