News

Construction of the long-planned vehicular underpass on the Esterley Tibbetts Highway at Camana Bay could start as early as next month, according to a Dart spokeswoman.

Having just refinanced nearly US$37 million in debt held over from previous government administrations, the Cayman Islands Development Bank is back in business.

Chief Justice Anthony Smellie announced on Wednesday the specific steps that have been taken to make a new courthouse a reality. He was speaking at the formal opening of Grand Court for 2016 after a ceremonial inspection of a police guard of honor outdoors.

Sales of smaller properties along Grand Cayman’s Seven Mile Beach expected to pick-up in 2014, following price increases in US housing market and increased disposable income of North American middle class that feel financially secure enough to look for vacation property.

A $10 million piece of beachfront property in East End once slated for a Mandarin Oriental Hotel has been acquired by Dart Realty, the developer has confirmed.

Health City has opened a new sleep lab to treat, diagnose and study a range of sleep disorders which doctors believe could be contributing to other illnesses. Patients can spend the night at the lab while doctors monitor brain flow and breathing patterns using sophisticated equipment, including electrodes attached to the head and body.

Mike Bell, who built the Grand Harbour shopping and residential development, died in the U.S. this week. He was 51.

The general mood of tourism is upbeat, and the statistics support it: Arrivals are rising, construction is proceeding, employment is set to expand, and while economic recovery feels wobbly, optimism is guarded and hope springs.

Investing in Cayman Islands Real Estate makes sound financial sense. Cayman has a competitive advantage over other off-shore jurisdictions, from real estate variety to advanced communications and amenities.

I estimate that there have been approximately 60 to 70 new properties built over the past year, or are committed to being built in the next year that are single dwelling, family residences in the US$1.5 million to just under US$3 million price range. These properties have been developed primarily in canal-front locations, from West Bay, along the Seven Mile Beach corridor and out to Grand Harbour.