Many parts of the world, not similarly blessed with the Cayman Islands’ tropical clime, are relishing the advent of spring and its exuberance of flora.
Here in Cayman, where the flowers remain vibrant all the year round, we have our own season of growth to celebrate – economically, that is – as dozens of exciting development projects are springing up.
Rather than daffodils, tulips and crocuses, our blossoms in Cayman, of course, are made of concrete, glass and steel, although their names hearken the beauty of nature: Indigo Bay, Ironwood Resort, Orchid Development Community, Periwinkle, The Grove and WaterColours (not to mention, Seacrest by Brian Butler, Seahaven by Encompass, or SOLARA).
The economic cornucopia is overflowing in nearly every district in Grand Cayman, from Rum Point Club Residences in North Side to the Boggy Sands Club in West Bay. Some include expansions of successful, ongoing ventures, such as Health City Cayman Islands, Cayman International School and Camana Bay, while others, such as Cayman Enterprise City, FIN Condominiums and Periwinkle sustainable community, literally and figuratively, break new ground.
The most recent issue of our sister publication, Grand Cayman Magazine contains an impressive list that names three dozen ongoing projects, including luxury homes, health and wellness amenities, new business and commercial enterprises, resorts and spas, and office complexes, as well as infrastructure upgrades necessitated by the current development boom.
From our windows at Compass Centre, we have a front-row view of the Cayman Cargo Distribution Centre’s towering new crane, part of a $5.6 million project which will allow the Port Authority to stack shipping containers seven stories high – a necessary expansion to meet the demands of our growing economy and population.
To passersby on North Sound Road, once the facility upgrade is completed in June, the stacked containers might resemble a seven-story building. To us, the crane-stacked towers of crates are emblematic not only of our territory’s growth, but also confidence in our continued growth, as hotel projects and a possible cruise berthing development increase the amount of cargo arriving on our shores.
Port director Clement Reid told the Compass that officials hope that by redeveloping the yard they will ensure Grand Cayman has enough storage capacity for the next 20 years. A highly technical automated system will enable operators to keep track of all those containers, making it easy to harvest the correct bins when customers arrive to claim their property.
Other beneficiaries of the boom are Cayman’s construction companies. As was reported in the Compass this week, three-quarters of the 30 firms participating in a Chamber of Commerce industry roundtable said they expect to boost spending this year, with 70 percent looking to increase local hiring, and fully two-thirds anticipating expansions of their local operations.
Taken together, these figures present a positive picture of future growth, where seeds of continued development and prosperity will be sown by visionaries, entrepreneurs, investors and developers.
This season’s “crop” looks especially bountiful.