Grace Bay Realty

Providenciales, Turks & Caicos Islands – Feb 24th, 2010

Grace Bay Realty, a real estate company serving the Turks & Caicos Islands and a Christie’s Great Estates affiliate, has, as of this morning, granted seed capital totaling $10,000 to two local entrepreneurs as part of their vision to assist self-sufficiency within the Islands, as announced today by Lyle Schmidek, Managing Director.

The two entrepreneurially minded individuals, Mr. Emmanuel Missick and Ms. Kacy Dee Higgs, both from North Caicos, were the only two that submitted business plans to qualify for a grant from Grace Bay Realty’s TCI Self-Sufficiency Project which was launched in December 2009. Both applicants were approved by a panel consisting of a senior representatives of First Caribbean, Royal Bank, Scotiabank, Saunders & Co. and Grace Bay Realty.

In an effort to promote entrepreneurship and self-sufficiency, one requirement of the grant is that the successful recipients must pledge to repay the $5,000.00 to the project’s Regeneration Fund, which will be used to fund future grants. After the second year successful recipients should make a second $5,000 contribution to the project’s Regeneration Fund to finance yet another grant. This process will allow the original investment to self generate future capital injections into the fund and expand well beyond its original scope.

In December Grace Bay Realty donated $5,000 to the Turks & Caicos Farmers’ & Community Association to assist them in getting setup and united. A BIG THANKS goes out to Larry Caroe from Saunders & Co. for their legal services towards this effort.

We would also like to extend an EXTRA SPECIAL THANK YOU to Jeff Lee of Lee and Astwood Architects for architectural and engineering services and Patrick Hayward, Benchmark Survey Associates for surveying services. Both firms have given their time and resources towards continuing our efforts to make a Farming & Sustainability Market for the Turks & Caicos Islands community a reality. The market when finished will provide an excellent venue for local vendors to offer the public products and services that support sustainable living here in the islands.

The Market will also be a learning hub to teach all residents about sustainable living and ecological practices, including the growing of organic gardens, permaculture, alternative energy and other related self-sufficiency practices.

Anyone interested in getting involved with Grace Bay Realty’s efforts in helping to develop or promote sustainable living in the Turks & Caicos Islands community should contact our Public Relations Coordinator, Beth Atkins, at 649-232-5277 or e-mail her at Beth@GraceBayRealty.com

Six Senses’ Hub, Bangkok – January 21, 2010:

Six Senses Resorts & Spas is set to establish its first Caribbean property in the Turks & Caicos, following the signing of an agreement with Salt Cay Devco Ltd. In the initial phase, the project will comprise a Six Senses resort, Residential Villas, Six Senses Spa, and Golf Course. The proposed opening date is 2013.

Salt Cay is one of only 10 inhabited islands in a group of 40 islands and cays that make up the Turks and Caicos. The island has remained virtually unchanged from an era when the salt industry, dating back to the 17th century, dominated the economy for over 300 years. Covering just 6.5 square kilometres, or 2.5 square miles, Salt Cay is scattered with historical sites and ruins from the salt raking days, inciting the enthusiasm of historians, photographers and tourists alike who enjoy exploring these many attractions.

Six Senses Salt Cay has been designed to introduce the group’s SLOW LIFE* philosophy with the Turks and Caicos positioning as the undiscovered Caribbean – from an earlier time when relaxation was unavoidable and rejuvenation assumed.

Salt Cay is easily accessible by an 80-minute flight from Miami or a three-hour flight from New York to Providenciales, then a 30-minute hop to Salt Cay in the resort’s own airplane. Described as home to the best beaches in the world, breathtaking hues from inviting waters, and legendary diving, snorkeling and fishing, the Turks and Caicos are a tropical classic that embraces the concept of beautiful by nature; perfectly aligned with Six Senses’ environmental commitment – intelligent luxury.

Initially, the project will comprise a total of 40 one-bedroom villa suites, two-bedroom villa suites and three-bedroom retreats, plus 13 four-bedroom residential villas. Many villas will make dramatic use of the slope of the site, affording wonderful panoramic views.

In addition to several dining alternatives, including an organic garden restaurant, there will be a jazz bar, an observatory, and Cinema Paradiso – classic movies in an open environment that has proved a winning double feature in many Six Senses properties. Leisure activities will by the very nature of the location focus on water activities, but will also include tennis and an eco-friendly golf course.

A feature of Six Senses Salt Cay will be the Six Senses Spa. A team of highly skilled international therapists will take guests on sensory journeys with Six Senses’ a la carte and local salt-inspired treatments for balancing the senses. Visiting practitioners will bring unique talents to the spa to enlighten and inform guests. A little luxurious pampering never goes amiss and will be on hand to complete the total relaxation experience.

An international team of partners and consultants was been brought together for the project by Salt Cay Devco Ltd., which is owned by Mario Hoffmann, a financier and keen sportsman who made the Turks and Caicos his second home in 1999; and CEO Stefan Kral.

Total investment for phase one of Six Senses Salt Cay will be US$200 million and will create more than two hundred jobs for the local community.

17th December 2009
PRESS RELEASE

Recent Press releases informed the Public of the approval granted to Turks and Caicos Airports Authority (TCIAA) by the Governor and Advisory Council to pursue financing to facilitate the much needed Providenciales International Redevelopment project on the basis of full ownership by the Authority. This redevelopment will ensure that the airport satisfies International Civil Aviation Organisation (ICAO) regulatory requirements as well as existing and future capacity demands, all of which are essential to supporting our main industry – tourism.

The signing today of an asset purchase agreement between TCIAA, TCIG and Provo Airport Company (PAC) marks the return of a valuable national asset to the people of the Turks and Caicos Islands. Self financing of this project will be generated through the Airport users, 95% of whom are the tourists visiting the country. This process aims to provide a steady, continuous revenue stream to the Turks and Caicos Islands Government (TCIG), as well as allowing TCIAA to cover operational costs. The funds secured for the expansion project will be used solely for this purpose and are not otherwise available to TCIG.

The commitment of the Government and TCIAA towards this substantial redevelopment project highlights confidence in the Turks and Caicos Islands tourism industry and will help to secure tourism growth in the years to come. A detailed presentation on the scope of the airport expansion will be made to the general public in early 2010.

Note to editors:

This acquisition is by mutual agreement between CACL and TCIAA, the respective 65% and 35% shareholders. The value of the assets is as stipulated by the terms and formulae within the joint venture agreement- as verified by an independent accounting firm.

Providenciales, Turks & Caicos Islands – Dec 18th, 2009 – Grace Bay Realty, a real estate company serving the Turks & Caicos Islands and a Christie’s Great Estates affiliate, has pledged $25,000 to an ambitious entrepreneurial and self-sufficiency project within the Islands as announced today by Lyle Schmidek, Managing Director.

An initial $5,000 will be donated to help the Turks & Caicos Farmers & Community Association in getting their products and services to a larger number of consumers more cost effectively and to start the process of building a Farmers’ Market on Providenciales.

The remaining $20,000, along with contributions from others in the community will be granted in increments of $5,000 as a capital injection to qualifying entrepreneurially minded individuals and groups that submit a business plan by the 30th of January, 2010. All applicants should address their business plans in confidence to TCI Self-Sufficiency Project, c/o Grace Bay Realty, located on Grace Bay Road in the Regent Village.

Successful applicants will be determined by a panel consisting of a senior representatives of the TCI Agricultural Dept., T & C Farmers & Community Assoc., First Caribbean, Royal Bank, Scotiabank, Saunders & Co. and Grace Bay Realty.

In an effort to promote entrepreneurship and self-sufficiency, one requirement of the program is that the recipients of the grant must pledge to repay the $5,000 to the Project’s Regeneration Fund after their first year in business so that others can participate. After the second year of business the fund asks recipient businesses to make a second $5,000 pledge to further the ‘paying forward’ of new start-ups. Lyle Schmidek hopes that in five years this process would mushroom into a million dollars in grants, or more…

Mr. Schmidek advises that Grace Bay Realty has started to ask the whole community to join in with them and so far everyone approached has been very supportive. The law firm of Saunders & Co. was the first to pledge its support through the use of a prime 1.2 acre parcel of land on Leeward Highway and adjacent to IGA to construct a Farmers’ Market along with an additional $5,000.00 and legal support in establishing the Turks & Caicos Farmers & Community Association and for devising terms for grants and repayments.

Architectural services have been pledged by Lee and Astwood Architects who will coordinate all architectural and engineering services, says Mr. Schmidek and they are now finding individuals and companies to join them with building materials and labour to build the Farmers’ Market. Mr. Schmidek also notes “The market will give local vendors a low-cost and effective venue to offer their produce or other products to a large number and wide range of consumers from all over Provo and throughout the Islands as most residents converge at the Leeward Highway IGA with shopping money in their pockets at least once a week.”

Up to this release the following individuals and companies have pledged the following which we are very grateful. Please follow local media for updates to this list.

Beth Atkins, Public Relations/Luxury Real Estate Specialist, Grace Bay Realty – Recipient support

Bonnie Voynovich, Country Head, Royal Bank of Canada – application review panel

Courtney Missisk, Farmer/Entrepreneur, North Caicos – Education, training & application review panel

Darik Riggs, Marketing Coordinator, Grace Bay Realty – Marketing/website development assistance

Donald Elvey, Agricultural Director, Government Farm – Education, training & application review panel

Dexter Williams, Specialty Services – Entertainment/light & sound infrastructure

Doug Cochrane, Country Head, Scotiabank (Turks and Caicos) Ltd.- Application review panel

Dr. Frederick & Mary Glover, T1 Business Centers – Development funding

Jeff Lee, Lee and Astwood Architects – Architectural and engineering services

Katherine Baryluk , Private Island Sales, Grace Bay Realty – Recipient Support

Larry Caroe, Saunders & Co. – Legal Services and Association Set up

Norman Saunders Jr., Saunders & Co. – Land use, legal services & application review panel

Patrick Hayward, Benchmark Survey Associates – Surveying services

Peter Stingl, Luxury Real Estate Specialist, Grace Bay Realty – Recipient support

Robert Greenwood, Luxury Real Estate Specialist, Grace Bay Realty – Recipient support

Sherma Hercules, Country Head, First Caribbean International Bank – Application review panel

Stefan Kral, CEO, Salt Cay Devco Ltd. – Educational Funding

Woody Bonrud, Luxury Real Estate Specialist, Grace Bay Realty – Recipient support

Secondary funding has already been secured that will fund training at the new Farmer’s Market location for all communities interested in learning about sustainable living, including the growing of organic gardens, permaculture, alternative energy and other related self-sufficiency practices.

Anyone interested in pledging their support in this exciting community project should call the Project’s Public Relations Coordinator, Beth Atkins, at 649-232-5277 or e-mail her at Beth@GraceBayRealty.com

Business Plans may be dropped off at Grace Bay Realty located at 105 Regent Village, Providenciales or e-mailed to: Lyle@GraceBayRealty.com or faxed to 649-941-4106. On island telephone number is 649-941-4105 and US is 602-324-9400.

Providenciales, Turks & Caicos Islands – Sept. 4^th, 2009 – Grace Bay Realty, a prominent real estate company serving the Turks & Caicos Islands, has been selected for membership in Chicago-based Leading Real Estate Companies of the World^®, Lyle Schmidek. Managing Director announced today.

Grace Bay Realty joins this global network comprised of over 600 of the best-known local and regional real estate firms, with 5,000 offices and 150,000 sales associates around the globe.  Collectively, these firms sell nearly one million homes annually valued at nearly $300 billion, which is more than that of any national brand or franchise.

Leading Real Estate Companies of the World^® is the largest network of residential real estate firms, and network affiliates are widely recognized as the premier providers of quality residential real estate and relocation services.  Leading Real Estate Companies of the World^® also excels in the upper-end market and operates Luxury Portfolio Fine Property Collection^®, an award-winning luxury marketing program.

As an affiliate of Leading Real Estate Companies of the World^®, Grace Bay Realty can assist individuals purchasing or selling property in virtually any city with services including real estate assistance and comprehensive destination orientation programs. The membership also enables Grace Bay Realty to assist with corporate relocation accounts through RELO Direct^®, LeadingRE’s third party relocation company.

Schmidek notes that being selected as the affiliate of the Leading Real Estate Companies of the World^® network represents another important tool its ability to meet the real estate needs of the Turks and Caicos Islands area.

Grace Bay Realty, with just 6 sales associates, was selected for Leading Real Estate Companies of the World^® membership only after meeting the network’s exacting standards.

“We are delighted that Grace Bay Realty has joined Leading Real Estate Companies of the World^®,” commented President and CEO of Leading Real Estate Companies of the World^® Network Services Ruth Ann Pepple. “Their selection was based on the company’s outstanding reputation, as well as its demonstrated ability to deliver the same high quality service and reliability as our other affiliates. This level of service is the foundation of our network and is the basis for our longevity and success as one of the industry’s leading providers of real estate and relocation services.”