There are some exciting and new developments brewing on Grand Cayman.
A solid infrastructure has been key to Cayman’s development success, allowing for the creation of fantastic properties, wonderful hotels and beautiful homes in an environment that people simply want to live in. Focusing on the strength of Cayman’s infrastructure has lead to some fantastic new developments that will offer residents the height of luxury.
Exclusivity on The Beach
If your dream is a luxury accommodation in a secluded and highly sought-after residence overlooking the crystal clear waters of the Caribbean, then The WaterColours was developed with you in mind. The prestigious beachfront condominium features only 57 exclusive residences and is located right on Cayman’s award-winning Seven Mile Beach. Each residence boasts unobstructed views of the gorgeous turquoise ocean with glass balconies and features materials such as marble, granite and rich woods, high ceilings and high-end appliances.
The Residences of Stone Island is a brand new development by the team behind The WaterColours. Located in the prestigious Yacht Club neighbourhood, Stone Island will offer true waterfront living within a gated community of 44 luxury residences, each with approximately 4,500 square feet of open-concept living space. The Yacht Club neighbourhood itself is a well-established and high-end residential, low-density community that is perfectly suited for a boating lifestyle. Residents can enjoy easy access to Seven Mile Beach, which is only a short walk away.
Currently, this is the pinnacle development in Cayman. The exclusive three-story residences feature private plunge pools, double car garages, vaulted master bedroom ceilings and waterway views, complete with exceptional fixtures and finishes. This is a truly exciting project and one to watch for 2017. Three model homes will be ready for viewing by the end of the second quarter.
New Brands, Wider Audience
The Kimpton Seafire Resort + Spa, which opened late last year, has been a part of Cayman’s ever-growing selection of hotel brands. It has given Cayman’s real estate industry and economy as a whole an unprecedented boost.
With the opening of Howard Hospitality Group’s business hotel and Margaritaville Beach Resort Grand Cayman later this year, and the Four Seasons in coming years, it means that there will soon be a multitude of differing brands here. Having a variety of brands is always good for the local economy and with brand-loyal customers who are seeking out new destinations for a vacation. Traditionally, when any new brand has come to the Cayman Islands, the real estate industry prospers in the following three years post opening. We are looking at a very exciting few years ahead!
If You Build It
The brand new Ironwood development project has the potential to kick start a whole new avenue of tourism for the Cayman Islands. Late last year, it was announced that Cayman Islands developer Joe Imparato would design and build a 100-room clubhouse and lodge as part of the Arnold Palmer-branded Ironwood golf resort planned for the eastern districts. Plans were unveiled for a luxury hotel and condominiums, similar in style to the Caribbean Club, which he developed on Seven Mile Beach. The approximately $30-million-development will feature a golf pro shoppe, swimming pool, tennis centre and two restaurants. According to reports, it will be the centrepiece of the planned PGA-level course designed by the Arnold Palmer Design Company. With current golf offerings on the Island including the nine-hole course at The Ritz-Carlton, Grand Cayman and the 18-hole championship golf course, North Sound Golf Club, Ironwood will definitely lure more golf tourists to the Cayman Islands.
Airport, Roads, Telecoms and More
Nowhere is infrastructure development more critical than at the Owen Roberts International Airport in George Town, Grand Cayman. The enhancement of our international airport has been marching forth at a steady pace and is scheduled to become fully online at the middle to end of 2018. The ongoing development of Cayman’s airport is critical to the country as it will provide the gateway to development for the Cayman Islands as a whole for the next 20 years and beyond.
If a visitor is able to move around a location with ease via good transportation links, it means they can gain access to all sorts of areas of the island that they otherwise would have missed. At the same time, good road links mean different areas of the island can be opened up to developers, creating prosperity for these areas and for the country as a whole. The fact that so much effort is now being put into improving Cayman’s roads is indeed a very welcomed change.
Better road linkage means increases in prices for homes that are located just outside George Town as it will become increasingly difficult to purchase affordable homes in or close to the capital. This also has the knock on effect of creating new locations for businesses that don’t necessarily need to be located in George Town.
The installation of a fibre network has been pushed forth around the island and is good news for everyone looking for better broadband connectivity. Visitors can better connect with their homes and businesses overseas whilst they are on vacation and people who live and work here can enjoy high-speed internet services, providing a climate conducive to a truly global business environment.
This will surely be a busy year for the Islands as it grows and continues to develop. It’s an exciting time to be here!
Author: James Bovell