By Dana Niland
CJ Contributor
In two months since launching sales, Grand Hyatt Grand Cayman Residences has reached $45 million in sales, Caribbean Journal has learned.
The collection of planned beachfront residences, which will accompany the Grand Hyatt hotel, is Grand Cayman’s newest residential offering.
“Considering the pent-up demand for a new amenity-rich, full-service property on the island, it’sno surprise Grand Hyatt Grand Cayman Residences are selling at such a rapid pace,” said Myles Newell, partner at Waypoint Resort Real Estate. “With the island’s limited inventory, much of it built more than a decade ago, we knew buyers would flock to this new luxury experience development.”
The property is being developed by Pageant Beach Hotel Ltd. and managed by Aimbridge Hospitality, while Florida-based Waypoint Resort Real Estate is teaming with RE/MAX Cayman Islands for sales and marketing of the residences.
Located less than a mile from George Town’s historic town center and just 10 minutes from Owen Roberts International Airport, Grand Hyatt Grand Cayman Hotel & Residences will occupy a seven-acre footprint with 900 feet of waterfront real estate.
Amenities include three pools, a 12,500 square-foot destination wellness spa, salon and gym, six food and beverage venues, kids club, event rooms with ocean view terrace, and 25,000 square feet of indoor conference and meeting space.
Waterside features include beach cabanas, a seafront eco-walk celebrating the diverse ecology of Grand Cayman, and watersport activities from jet skis to parasailing and snorkeling.
The project is comprised of 167 studio suites, one-, two-, and three-bedroom residences ranging from 460 to 2,471 square feet.
An affiliate of Pageant Beach Hotel Ltd. will offer a rental program for the residences that will allow participating owners, when not occupying their residences, to have Grand Hyatt Grand Cayman rent their residences to hotel guests.
“As expected, buyers are excited about the close proximity to everything that Grand Cayman has to offer, the residences being the newest product available on the island, and the overall value they’re receiving when investing in these units,” Newell said.