Re/Max launched the sales campaign of a planned five-star condominium hotel in East End last week with a cocktail reception on the rooftop of the Hyatt Grand Cayman Beach Suites.
Cabinet Minister Arden McLean, who is also the Legislative representative from East End, endorsed the new project, which will be called The Island Resort and Residences, on behalf of the Government.
‘We welcome this investment, given the government’s commitment to the Go East initiative,’ he said. ‘It is timely and aids our diversification of Cayman’s tourism product.
‘Additionally, it signals the developer’s confidence in these Islands and East End to attract the kind of investors that will make their business endeavours a success.’
The Island Resort and Residences will offer 81 units and 221 rooms, which can all be rented out as individual hotel rooms. It will be located on 800 feet off Spotter’s Bay Road, about a half-mile west of Morritt’s Tortuga Club.
Units range in price from $795,000 for a two bedroom, up to $3.5 million for a 4,083 square-foot, four-bedroom penthouse unit. Owners can use the units for themselves for specified times, but must rent them out for hotel guests for the remainder of the year.
Caribbean Island Developments’ Michael Beggs who is one of four partners on the project, will head up the development team.
Mr. Beggs and his group have done many developments in other locations already, most recently in Belize. He said Cayman has impressed him as a place to do business.
‘In a lot of countries we develop in, we don’t have the same kind of service and professionalism that we have had in the Cayman Islands,’ he said.
Mr. Beggs said he used to be a tourism consultant in the Seychelles Islands and that he knows what affluent tourists are looking for, which is one of the key reasons he chose East End for the project.
‘Five star tourists don’t want traffic and they don’t want noise,’ he said. ‘They want peace and quite, white sand beaches and coconuts.’
They also want luxury, Mr. Beggs said, which is what he thinks will set The Islands Resort and Residences apart from other projects here.
‘It’s absolute luxury,’ he said. ‘Everything is bigger, better, higher… in every respect.
‘It’s about creating a luxury experience. Any amenity or service within reason that a guest wants, we’re going to try to provide.’
One of interesting features of the resort will be four contiguous pools which run 480 linear feet along the beach. The pools will feature cascading waterfalls, rope and wood bridges, sand beaches, secluded bays, and a swim-up/walk-up pool bar and grill.
The architecture team for the project will include Brian Eccles of DDL Studio locally, and renowned architect Rafael Amuchastegui, who has worked on such projects as the Atlantis Hotel in the Bahamas and the Burj Al Arab Suites in Dubai.
Mr. McLean said the project is indicative of the kind of tourism product the government is encouraging.
‘With deliberation and planning, Cayman is laying the foundation to attract affluent tourists who value privacy,’ he said.
‘The Island Resort and Residences, with its slogan ‘simply beyond expectations’, is expected to raise the bar of luxury resort development in the Cayman Islands, with extraordinary attention to detail in engineering, construction, architecture and landscaping design.’
The Island Resort and Residences will join the upcoming five-star Mandarin Oriental Hotel in the East End district.
Mr. McLean said the two developments would ‘substantially increase the value of real estate in the Colliers area’. However, the Minister stressed that Cayman wanted investors that enjoyed the area for the way it is.
‘Our focus has been to ensure that East End does not adopt the busy hustle and bustle atmosphere that has overtaken Seven-Mile Beach, but that it retains that quaint and traditional Cayman Islands allure with an upscale twist.’