Provenance Properties launches as Christie’s International affiliate

New realtor Provenance Properties of Cayman has launched as an affiliate of luxury real estate network Christie’s International Real Estate, a subsidiary of Christie’s auction house.  

Provenance Properties will market and sell residences developed by its parent company Dart Realty, beginning with the condominiums at the Kimpton Resort on Seven Mile Beach and at a later stage the residences at Camana Bay.  

The US$200 million Kimpton resort development on Seven Mile Beach consists of two 10-story buildings, one for a 265-room hotel and one containing 61 condos, as well as six beachfront bungalows. The planned opening date for the hotel is late 2016.  

In May, Dart submitted a planning application for more than 100 townhouses and condominiums at Camana Bay adjacent to the amenities of the Town Center. A time line for construction and sale of the homes has yet to be determined.  

Provenance will also feature other parts of Cayman’s luxury real estate market and accept third-party listings for properties valued at more than $1 million. 

Jackie Doak, chief operating officer of Dart Realty, leads the real estate company that will initially operate out of the Discovery Centre at Camana Bay.  

“We are proud to align ourselves with such an illustrious organization as Christie’s International Real Estate and further raise global awareness of Cayman’s most desirable real estate products,” said Ms. Doak.  

Christie’s launched its real estate venture in 1995 by applying an international network of brokers to the marketing of high-end properties. 

Rick Moeser, Southeast, Caribbean and Latin America regional manager of Christie’s International Real Estate, said, “With a deep-seated history and an expansive knowledge of the intricacies of luxury real estate in one of the most sought-after destinations in the world, Provenance Properties of Cayman Ltd. offers world-class specialized customer service and a distinguished position as one of the most compelling entities in the region. Provenance Properties is certainly an invaluable addition to our global network.”  

Provenance Properties said it aims to connect buyers with individual properties that have a story to tell, both in terms of Cayman’s history and the vision of the people who conceived and built them.  

“We look forward to building strong relationships with Cayman’s network of real estate professionals and partnering with them to showcase the extraordinary opportunities Cayman offers discerning buyers,” Ms. Doak said. 

Christies

Jackie Doak of Dart Realty with Rick Moeser, senior vice president, and Dan Conn, chief operating officer of Christie’s International Real Estate.

5 COMMENTS

  1. CIREBA doesn’t this mean a loss of potential income for your existing members? I thought the project was to assist the local economy under the for alliance program?

  2. I have been a big supporter of Dart and the improvements that he has bought to our country, up until now. This continued expansion into different areas of local business, with his massive capital backing, has the potential to create unfair competition and a possible monopoly situation when all the local businesses have been swallowed up, or been forced out of business. I used to think this was just fear mongering when other people expressed these sentiments, but now I am not so sure. And no, I am not a realtor…

  3. I kind of understand everyone issues with Dart Industries having such a foot hold in Cayman but I can clearly see all the positive effects the things they have done has to the Cayman Islands product, can anyone show me or explain to me what the negative effects are.

  4. The problem is, Michael, yes there has been huge local investment, which is great, but there has been very little trickle down benefit for local companies that are not Dart owned. If he needs local services he either buys out a local firm or, worse still, starts his own companies in competition. The benefits to local businesses have been minimal, apart from having nice places to dine and shop. Of course he is a business man and is here to make money and that is fine, but when he starts expanding further into local services we risk a situation where an unfair advantage is created due to his massive financial resources, which could lead to a monopoly situation in the future.

  5. Makes sence Sid, but how is that any different than CUC? It seems that what Cayman lacks are anti trust laws that limit monopolies such as CUC and help create competition. The only laws that prevent competition seem to stop competition from foreign investors. You can’t blame Dart for that, this is something that needs to be taken up with Caymans leaders. I do however recall their brewery idea being shot down because of the competition it would create for the other brewery. So it doesn’t seem they are allowed to do whatever they want. Here it just sound like that are looking to manage that sale of their own properties which only makes them more exclusive.

Comments are closed.