GRAND CAYMAN, CAYMAN ISLANDS—GlobeSt.com's visited the Cayman Islands last week to catch up with Dart Real Estate and discuss all of the many developments and innovations currently happening on the Island. While there, it became apparent that opportunities are abound. But one of the most interesting things to point out is how the company is continuing to integrate both its acquisitions and the development of the land it already owns in a way that just makes sense and is part of a much bigger master plan.
As an example, Dart Real Estate recently purchased property on Seven Mile Beach adjacent to its mixed-use Camana Bay development. The Royal Palms Beach Club is currently operated on the newly acquired property (pictured here) on Grand Cayman, Cayman Islands.
The company is currently in the planning stages of a new five-star resort to be built on the world-famous Seven Mile Beach—said to be a Four Seasons property. But while specifics of the new development aren't finalized at this time, what is apparent is that this acquisition was logical and is part of a much larger plan.
As Jackie Doak, president of Dart real Estate, told GlobeSt.com last week, “the purchase of that property integrates well with the company's Camana Bay development.” The reason for that is due to its adjacent positioning.
From my personal perspective, having seen the company's portfolio first hand, “fitting in well” is something the company seems to do quite seamlessly. In this particular example, the property will be developed in a way that shows a commitment to the island and to developing places and communities here.
Part of that commitment is to safety and to ensuring that those who live, work, and invest in Camana Bay, have both their needs and wishes met. As GlobeSt.com recently reported, part of that safety includes partnering with the Cayman Islands government on infrastructure projects, including the two vehicular underpasses on West Bay Road and the Esterley Tibbetts Highway that the company is working on, which allows traffic to flow seamlessly along the north-sound corridor of the island. As a result of these underpasses, the company says, pedestrians will be able to travel safely from the Caribbean Sea to the North Sound along a landscaped elevated pathway, allowing residents and visitor's safe and easy access to Seven Mile Beach and the Camana Bay Town Centre.
Another example of the company's commitment to the Island is that the Camana Bay development also caters to the educational needs of those living and working at the property through its Starfish Village, an education and enrichment center for children up to 12-years-old and the Cayman International School, a world-class educational facility set on 13-acres. Doak told GlobeSt.com that the Cayman International School also has a major expansion planned in the coming years.
Also important to point out, there are still many areas that Dart Real Estate owns, including Camana Bay's 675 acres, which are still undeveloped. And with so much on the horizon for development in the Cayman Islands, and with so much possibility, some might say that having too much opportunity isn't a bad problem to have, but that making the right decision for those opportunities is key.
While meeting with Doak, she said that when the company looks at opportunity and what property type is right, flexibility is and has never been more important. She added that looking at the needs of the market and structuring its development in a way that ensures that they remain the preferred place to live, work, play, shop and dine in the Cayman Islands is also of the utmost importance.
Check back with GlobeSt.com for so much more from our visit to the island, including interviews with Dart's leasing, design and development executives and more.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
