01/02/2020

In recent years the Cayman Islands economic growth has been driven by construction. Most of the activity is concentrated in the Seven Mile Beach and South Sound areas.

South Sound is being transformed by new projects in various stages of completion. 

Fin is pioneering a long-term coral reef conservation program with 36 unit private residential development on over two acres of oceanfront land, with a private beach, salt water lagoon, elevated glass bottom pool.

Davenport Development is building the first phase of Vela, a 168-unit condo complex around a swimming pool and the first phase is sold out. 

The NCB Group has begun sales on beachfront project, Tides, which includes 24 ocean side condos priced at multi million-dollars.

Seven Mile Beach Investment Co. Ltd. owned by Ergun Berksoy has Orchid Cove project underway.  The project includes 8 beachfront apartments across 4 floors totalling up to 2,500 square feet.

Another project under development is the Shore Club, a six-residence project from Baraud Development Ltd. 

Kim Lund from real estate agency RE/MAX, said the development boom is a result of the increasing demand in South Sound and added:  “It is definitely the desirable neighbourhood, and the prices remain attractive. There is tremendous demand for that area, particularly from people working in George Town.”