ERA Real Estate Blog

Article Snapshot The Dart Group recently announced that East End will soon be home to a one-of-a-kind eco-resort. The 10-acre property will feature 89 cottages at Barefoot Beach. According to a Dart spokesperson, “Dart is leasing a portion of its property at Barefoot Beach to [a] third party tenant, consisting in part of the NCB Group, for a planned maximum...

Article Snapshot In the first three months of 2019, the Cayman Islands saw 145,804 stayover visitors – an 8.67% increase from the same period in 2018. The estimated visitor spend for the first quarter period was $235 million. Cruise ship passengers decreased slightly from 671,935 in the first quarter of 2018 to 641,045 in 2019. March saw the largest amount...

Article Snapshot Construction began late last week on OLEA, Camana Bay’s first for-sale residential community. Over 50% of the properties have already been sold. Construction is on the units is expected to be finished in a little over a year. Prices range from $600,000USD to $2 million. When completed, it will feature 124 residences, a resort-style pool, outdoor dining area,...

Article Snapshot A controversial dispute between Vista Del Mar Developments Ltd. and two property owners (Janet Francis and Dwight Clarke) was resolved last week after over 6 years of court proceedings. Vista Del Mar contracts state that all property purchasers must build residences on their lots within a given amount of time. The owners purchased the plot of land from...

Article Snapshot: The government has signed a contract with Tech City Cayman Islands Ltd. (also known as TechCayman) requiring the company to provide hundreds of Caymanian tech-related jobs. In turn, the government has agreed to provide the company with expedited permitting and licensing processes as well as infrastructure investments. The contract states that TechCayman will establish a training center and...

Article Snapshot: Numbers don’t lie: a record-breaking 16,326 companies were formed in Cayman last year, pushing the total number of active companies to 107,309 at the end of 2018. Recently released statistics from the General Registry state that the number of registered companies has been growing steadily since the end of 2017. In March of 2018, the number of companies...

Article Snapshot Dart has plans to build an “iconic” skyscraper in Camana Bay, but only if a change in planning and zoning strategy is approved. According to Dart, the skyscraper will rival some of the most famous buildings in the world and will become a must-see tourist attraction. Jackie Doak, president of Dart Real Estate, states “Removing the current height...

Article Snapshot The request to obtain a costal works license submitted by Handel Whittaker, owner of Calico Jack’s on Seven Mile Beach, has been deemed “not acceptable” by Tara Rivers, representative for West Bay South. The proposal requires the removal of 180,000 square feet of turtle grass from an undeveloped beach in Barkers, as well as the construction of a...

Article Snapshot Cayman Island Airports Authority is in search of suitable contractors for the Owen Roberts runway extension. The project will strengthen the runway and extend it 900 feet; the new runway will measure just under 8,000 feet in length. The runway extension was left out of the original airport expansion plan. It is estimated the project will cost an...

Article Snapshot: Dart is in the final stages of purchasing Le Soleil D’Or, a struggling luxury hotel on Cayman Brac. Jackie Doak, Dart Real Estate Business Development President announced the purchase at Thursday’s Chamber of Commerce luncheon, stating that “Dart’s intention is to restore the resort to full operations and retain current staff.” By purchasing Le Soleil D’Or, Dart will...