Jungle Bay, one of the Caribbean’s most successful award winning boutique hotel brands, is now open in Dominica with phase one of the project funded by CBI already open since June 2019 and phase two of the development will completed by mid 2020. It is located along the southwest coast of Dominica at a beautiful, historic location called Morne Acouma.
Dominica after being hit by Hurricane Maria in 2017, is witnessing a huge surge in tourism and five star hotels funded by citizenship by investment program (CBI). With half of the country revenues coming from CBI program, the decision of the government to use the Citizenship by Investment Programme (CBIP) to help develop five-star branded hotels, is part of a wider effort to expand economic activity and creation of sustainable jobs and opportunities for our people.
The Prime Minister of Dominica, said in recent budget speech, “The first of the CBIP projects, Jungle Bay Resort, is now open to guests and employing sixty-two (62) full time staff. ”
“Jungle Bay is a unique CBI investment that offers security through individually titled holdings along with development and management team with a successful track record. This unique property is ideal for the investor that is interested a good return on investment and re-sale value.” said Sam Raphael, developer of Jungle Bay
Below is a recent interview with the developer of Jungle bay villas,
1. When was Jungle bay villas re-opened?
Phase 1 of Jungle Bay re-opened June 1st, 2019. Phase 1 consist of 30 rooms, the main restaurant, spa and 1 yoga studio. Phase 2 of the development which combined with Phase 1 will include the remaining rooms, 2 restaurants, 2 yoga studios and several additional amenities will be complete by June 2020.
2. Please provide detailed information about the development (rooms, benefits, facilities)?
The Jungle Bay resort development includes 120 villa units plus other resort amenities. Villas are sold to individual investors under the CBI program. Each villa and the land they are on is individually titled to the CBI investor.
Villas are sold outright to individual buyers, ownership of which is conveyed via a duly recorded title/deed.
Amenities at Jungle Bay include 2 restaurants, 2 swimming pool with whirlpools, reception centre, gift shop, recreation centre with gym, 2 world-class yoga studios, a spa with 14Â treatment studios as well as on-site gardens.
3. What is the current pricing of villas, rental returns etc.?
The purchase price of a privately owned villa is $255,000 US. This price includes all title transfer & recording taxes and closing costs.
While predictions or representations of future income cannot be made, Jungle Bay can project based on the 10 year track record when the occupancy rate was 70% annually. This could indicate an annual return of investment to owners of up to US $12,000 (about 5% of the investment).
4. How many villas have been sold under CBI?
95 of the 120 Jungle Bay units have been sold under CBI. The remaining 25 are ocean-view units and construction will be complete within the next year.
5. How much this project is contributing to Dominica?
Jungle Bay is contributing significantly to the economic sustainable development of the island. In development phase this includes creating 100+ construction jobs and purchasing significant construction supplies on the island In ongoing hotel operations there are 60+ staff currently and by the time the hotel is in full operations next spring there will be 100 staff. Indirectly hundreds of other families benefit by supplying good and services to the hotel such as fruit, vegetables, eggs, fish, taxi services, car rental and more. The hotel sources locally as much as possible to make the guest experience more authentic while also benefiting the local economy. Jungle Bay’s management team also mentors entrepreneurs to help them improve services and products for Jungle Bay and to be sold through other distribution channels.
The Prime Minister of Dominica announced at the opening of Jungle Bay last month that the CBI program is critical to the economy and development of Dominica by benefiting the residents of the island. Socio-economic improvements are coming as a result of building 5,000 climate-resident housing programs for displaced island residents, new and upgraded healthcare facilities, roads, and other infrastructure. Last week it was stated that $26 million from all Dominica CBI projects combined has been distributed to education programs including scholarships for Dominica residents to study abroad. Collectively CBI funds have been and continue to be used for the improvement of this unique island nation of Dominica.
Construction timeline
Jungle bay is an approved project under citizenship by investment program (CIP) completed within 3 years of the launch.
- May 2016 – CIP Approval
- October to November 2016 – Land preparation
- December 2016 – Ground breaking
- January 2017 – Land clearing and road construction
- February to April 2017 – Foundation for first block of Villas and other facilities
- May 2017 – Foundation for Restaurant, Pool and Spa
- June to September 2017 –Construction continues as well as Foundation for Yoga
- October to December 2017 – Foundation for second block of Villas, Construction of remaining Villas and facilities continues
- December 2017 to 2018 -Foundation for second block of Villas; Construction of on remaining Villas and facilities continues
- February 2019 to May 2019 – finishing work on interiors & staff training
- June 2019 – Villas open for guests
