Cabinet-approved projects worth $1.18 billion advancing across TCI – Gov’t
Five major developments approved by Cabinet, with a combined value of approximately $1.18 billion, are advancing as the Turks and Caicos Islands Government seeks to expand investment while retaining more economic benefits within the territory.
The update was contained in the 2026–2027 Speech from the Throne, read by Governor Dileeni Daniel-Selvaratnam in Parliament on September 8, 2026, on behalf of the Turks and Caicos Islands Government.
The five developments were identified as Royal Reef in North Caicos, Dellis Cay, Janu, Corinthia, and Grace Retail and Residences.
They form part of a wider investment pipeline being managed through Invest Turks and Caicos. According to the Government, four development agreements executed last year had a combined value of approximately $1.28 billion.
The Throne Speech also reported that 16 projects, valued at about $2.57 billion, are now under construction.
On South Caicos, the $89.3 million expansion of the Salterra resort is continuing. The investment is expected to add to the economic activity generated by the luxury development and help strengthen the island’s position as a high-end tourism destination.
The Government is also pursuing major investment in Grand Turk. Negotiations with cruise companies MSC and Carnival are progressing on a proposed $177.3 million cruise and landside development.
Plans include the expansion of the cargo pier, the addition of visitor attractions and the construction of hotel accommodation. The proposed development forms part of the wider Grand Turk Economic Strategy, which is intended to revitalise the capital’s economy and increase the value it receives from cruise tourism.
The Government said Grand Turk should not be limited to serving as a brief daytime stop for cruise passengers.
“Our Capital will not be relegated to a day-stop,” the Throne Speech stated. “It is the seat of government where the major decisions about the future of these islands are made, and it must reflect that importance.”
Despite the size of the investment pipeline, the Government signalled that it would take a more selective approach to future development approvals.
It said not every proposed project would be consistent with the territory’s long-term development model. Investments will be expected to create employment, provide training and skills, and produce opportunities from which Turks and Caicos Islanders can benefit.
“Growth that does not leave value at home is not an inheritance. It is an extraction,” the Government declared. “Every development must add value, not deplete our treasure.”
The Government has imposed a temporary pause on certain developments in Providenciales so that future growth can be planned, sustainable and aligned with the country’s long-term interests.
The measure comes amid concerns about the pressure rapid development places on roads, utilities, housing, beaches and other public infrastructure in Providenciales.
While some developments in Providenciales have been paused, the Government said it would support appropriately scaled projects in Grand Turk, South Caicos, North Caicos, Middle Caicos and Salt Cay.
Investments in hospitality, fisheries, eco-tourism and heritage tourism will be encouraged where they are consistent with national development plans.
The Government is also seeking to increase the portion of tourism revenue retained by local businesses. It identified watersports operators, taxi drivers, vendors, artisans, event planners, farmers, marine-service providers and small suppliers as groups that should receive a larger share of visitor spending.
Plans for a public marina at the former Conch Farm site in Long Bay are intended to provide local watersports operators with safe and regulated launching facilities, space for boat maintenance and opportunities for small vendors.
Support for Turks and Caicos Islander-owned businesses will continue alongside the larger investment programme. Approximately $1.43 million in assistance was provided to micro, small and medium-sized enterprises last year.
The Throne Speech said most new concession orders issued during the first quarter of this year were connected to businesses in the Family Islands.
The Heritage Turks and Caicos Islander Investment Incentive Policy is also in effect. Two of the four development agreements executed last year involved Heritage Islander investors.
The Government said its objective is not simply to attract investment, but to ensure development strengthens local ownership, creates lasting employment and protects the natural assets on which the tourism economy depends.
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