This video was presented at the Cayman Islands Chamber of Commerce Legislative Luncheon on January 18, 2018 at the Kimpton Seafire Resort + Spa.
Over the last decade, Dart Real Estate has embarked on a partnership with the country, giving a commitment to create places and communities where people want to live their best lives.
Camana Bay is the first master-planned, mixed use, new urbanism development in the Caribbean. Having just celebrated ten years since its first tenants moved in, Camana Bay has proved life blossoms where ever you sow seeds. In this case, 675 acres of land.
That growth has led to a home for some of Grand Cayman’s leading firms, popular restaurants and one-of-a-kind retailers, attracting on average some three thousand people daily to work, shop, dine and play.
One third of the town has been reserved for public spaces, so those who choose to visit, live and invest will be encouraged to stroll around Camana Bay and experience sustainable design living in harmony with flora from the Dart nursery.
The vehicular underpasses play a key role in the creation of a pedestrian-friendly town connecting Seven Mile Beach to the North Sound.
Both underpasses on West Bay Road and the Esterley Tibbetts Highway will allow traffic to flow seamlessly along the north-south corridor. Pedestrians will be able to travel safely sea to sound, enjoying amenities along the way of landscaped paths on an elevated plane. Additional parking is planned between the underpasses beneath the elevated structure, allowing residents and visitors alike easy access to Seven Mile Beach and the Camana Bay Town Centre.
A five-star resort on the former Coral Caymanian property features in the long-term development plan, first shared publicly back in early 2015, and was included as part of the announcement of the third amendment to the National Roads Authority agreement.
The recent acquisition of the Royal Palms property takes the realisation of the long-term development plan one step further -
expanding the beach frontage next to the future five-star hotel which connects to the town centre over The Rise, enhancing the country’s tourism product while providing meaningful beach access to all who visit and call the Cayman Islands home.
Easy access also includes the partnership with government in 2013 to expand the Esterley Tibbetts highway to a four-lane dual carriageway from Raleigh Quay to West Bay – and from Camana Bay to George Town – an infrastructure package of more than US$65 million and laying the ground work for future shared success.
And Camana Bay continues to blossom. In the pipeline are an expanded school, a new Foster’s Food Fair location, two more commercial buildings and more.
Sustainable design and operating practices are at the core at each development project. Camana Bay’s newest buildings, 18 Forum Lane and One Nexus Way built to LEED gold certification, with 18 Forum Lane picking up the Governor’s Award for sustainability last year. These new buildings signal the Cayman Islands and Camana Bay are growing and are open for business, offering financial services and other economy movers a vibrant space that both reflects and connects to its environment. This ensures the company fulfills its mandate to create extraordinary and profitable developments.
The second pillar of the economy - tourism - plays an integral role in Dart Real Estate’s development plan. The acquisition of the iconic luxury resort property, The Ritz-Carlton, Grand Cayman was finalised in 2017. This expanded a hotel portfolio that already includes Kimpton Seafire Resort + Spa which opened its doors in 2016, and one year later received the much sought-after AAA Five Diamond rating.
Seafire does more than offer warm, authentic service to its guests. Over the next 10 years, the project is expected to bring upwards of US$500 million in economic impact to the Cayman Islands.
Dart Real Estate then turned its attention to its premier for sale luxury homes – The Residences at Seafire is open today, offering 62 private residences on a 12-acre full-service resort site - one quarter of the units sold during construction and sharing ground with Seafire. Provenance Properties, a subsidiary of Dart Real Estate is the broker for these homes, along with other luxury properties on island. Provenance Properties is the exclusive Cayman Islands affiliate of Christie’s International Real Estate and is now a member of the Cayman Islands Real Estate Brokers Association (CIREBA).