Development digest


Construction of Shetty hospital begins 

For Cayman Investment Alliance
The wide-ranging agreement between government and the Dart Group that includes relocating the George Town landfill, opening a new solid waste facility in the district of Bodden Town, redeveloping the former Courtyard by Marriott, extending the Esterley Tibbetts Highway and closing a section of West Bay Road.

Work began: September 2011
Cost: Dart has committed to US$415 million of direct investment over five years
Name of Company/Caymanian Partners: Dart Group, Cayman Islands Government
Status: Dart and government recently signed an addendum agreement clearing the way for the hotel redevelopment, enhancement of Seven Mile Public Beach and closure of the stretch of West Bay Road. Dart is working on the highway extension.
Completion: Unknown
Estimated jobs: 500-600 over five years

George Town cruise port
The long-discussed berthing facility mooted for George Town’s latest development partners for the Cayman Islands Government are China Harbour Engineering Company.
Work begins: Unconfirmed
Cost: Unconfirmed
Name of Company/Caymanian partners: China Harbour Engineering Company, Cayman Islands Government, Port Authority of the Cayman Islands
Status:  China Harbour:  “CHEC is in negotiations with the Cayman Islands Government for the construction of the George Town cruise ship port as a public-private partnership investment with 100 per cent funding by CHEC. The George Town port when completed would be operated by the Cayman Islands Port Authority.”
Completion: Unconfirmed
Estimated jobs: Unknown

Cayman Enterprise City
A special economic zone expected to be based in the Eastern areas of Grand Cayman.
Work begins: N/A
Cost: est. $327 million.
Name of Company/Caymanian partners: Cayman Enterprise City, Cayman Islands Government.
Status: N/A
Completion: N/A
Estimated jobs:  900 during first phase, of which 800 are expected to be construction-related.

Foster’s Distribution Centre
A 75,000-square foot, storm-proof building (up to Category 5 Hurricane winds) designed to consolidate Foster’s Food Fairs’ storage, distribution and administration and increase efficiency.
Work begins: January 2012
Cost: $12.5 million
Name of Company/Caymanian partners: Foster’s Food Fair IGA, architect Burns Connolly, Phoenix Group (contractor)
Status: In progress
Completion: October 2012
Estimated jobs: 150 local during construction.

Barcadere Marina
A 20-acre, mixed-use development with 83 slips, full potable water, fuel and sewage pump facilities plus boat lift, chandlery, boatyard and clubhouse. Future additions to include retail village, hotel and condos and hurricane-rated boat storage, anticipated in the next five years or thereabouts.
Work begins: Marina first opened in 2008, work is ongoing on this multi-business development.
Cost: Ongoing
Name of Company/Caymanian partners: The Barcadere, Phoenix Construction, CGMJ architects, BCQS project management, Megasystems electrical and plumbing, Polar Bear air-conditioning, Oasis Pool and Spa.
Status: Marine boat showroom began late 2010 and completed in mid-2012. George Town Yacht Club started construction December 2011, completion due November 2012.
Completion: November 2012

Estimated jobs: Neville Scott: “We have employed literally hundreds of people throughout the construction of the various phases and we currently have at least 50 employed, either directly or indirectly, with the ongoing construction.  I also have about 15 people currently employed full time by the existing businesses, with at least another dozen to be hired shortly to staff the GTYC.  This is not including the outside contractors that are now using our haul out and boatyard facility to work on their customers’ boats.”

Water Colours
Cayman’s first nine-storey development, which is being built on the site of the former Beach Club. It will be the highest possible building on Seven Mile Beach.
Work begins: November 2010
Cost: US$200 million
Name of Company/Caymanian partners: Arch and Godfrey (contractor), MJM Design Studio architects, International Design Group interior design and furnishings, Ritch & Conolly attorneys and RE/MAX Brokers Kim Lund and James Bovell for sales.
Current Status: In progress.
Completion: Late 2013
Estimated jobs: Unknown

Willow House
Phase five of Cricket Square is this 58,000-square foot building of five floors with four floors of Class A office space.
Work begins: July 2011
Cost: $15 million
Name of Company/Caymanian partners: Orchid Development (Flowers Group), McAlpine
Status: In construction
Completion: November 2012
Estimated jobs: 75 at McAlpine, 25 subcontractors.

Casa Luna
A project of 18 residential villas in a green park in South Sound, designed by architect Eduardo Bernal and designer Sandy Urquhart. Intended to be ‘a special little town rich with landscapes with a European flair.’
Work begins: July 2012
Cost: US$30 million-40 million
Name of Company/Caymanian partners: Hugh Hart (developer), West Indian Marine Group (sea wall), Arch and Godfrey (contractors).
Status: In progress
Completion: January, 2014
Estimated jobs: Unknown

Morritt’s “The Londoner”
The Londoner is an additional block of 35 oceanfront vacation condos to expand the resort’s capacity. Further expansion is expected over the next five to 10 years.
Work begins: April 2012
Cost: $58 million
Name of Company/Caymanian partners: Morritt Properties
Status: In construction
Completion:  Spring 2014
Estimated jobs: Unknown

Caribbean Plaza
A 52,900-square-foot, multi-storey development with office space, retail and a restaurant.
Work begins: Early 2012
Cost: Originally $12 million, but size has since been reduced
Name of Company/Caymanian partners: Joe Imparato, Adare Investments, Evolving Island
Status: In construction
Completion: Unknown
Estimated Jobs: Unknown


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