News

As published in the Cayman Compass: 5 FEBRUARY, 2015 A buyer is being sought for the Marriott Hotel on Seven Mile Beach. – PHOTO: TANEOS RAMSAY One of Grand Cayman’s biggest hotels, the 295-room Marriott Beach Resort on Seven Mile Beach, is expected to sell

Closing and capping large areas of the George Town Landfill will likely be the only way to lessen the potential environmental impact on the North Sound, according to consultants conducting tests at the site.

Increase on St& Duty

The Many Benefits of a Strata. James Bovell compares paying strata fees to costs of maintaining a stand alone property in the Cayman Islands.

As published in the Cayman Compass – TUESDAY DECEMBER 23, 2014 The half-built Kimpton Hotel. PHOTO: JAMES WHITTAKER The buyout of the Kimpton boutique hotel brand by the multinational Intercontinental Hotel Group is positive news for the Cayman Islands, according to developer Dart Realty.

The Cayman Islands government could earn millions from the sale of surplus properties it owns, but the figure projected by Premier Alden McLaughlins government is far less than what private sector consultants estimated.

The recently released IRR Viewpoint Caribbean Market Update 2016 Annual Report, written by James V. Andrews of Integra Realty Resources Caribbean, highlights some interesting discussion points when it comes to the state of Caribbean economies, especially in relation to real estate.

As recently as October 2015 I wrote how I saw the $2 million plus area of the residential homes market as remaining a difficult one for buyers to sell their properties in the short term. These properties are not moving anywhere near to the degree of other inventory, I wrote. Indeed, only ten homes of $3 million and above had been sold over the past three years. However, I also noted that I felt the market was about to change: Going forward, however, I see this becoming less of an issue. This is because desirable parcels of land are becoming increasingly less available. I went on to say that I believe as a result there will be a shift in the coming months and properties in the $2.5 million region will become a lot more appealing.

The total investments of non-residents in local financial assets was estimated at $119.3 billion by the end of 2014, according to a new report from the Economic and Statistics Office.

Cruise ship passengers still will not be able to gamble within Cayman Islands territorial waters next year, but gambling will be allowed on ships flying the Cayman Islands flag for the first time.