One of several major residential and tourist developments in Grand Cayman, the Grand Hyatt Grand Cayman 167-residences development at the old Pageant Beach is now more than 75 per cent sold, with sales currently exceeding US$150 million. Making the announcement, Kim Lund, Broker/Owner at RE/MAX Cayman Islands, who is the exclusive listing broker for the residences, outlined why owning one of the condos was a good investment.
“Just to put this in perspective, these Grand Hyatt Residences are pre-selling, right now, at an average sales price for a five-star internationally-branded Seven Mile Beach Resort which is way below current market values,” he said. “This is much less than many other popular Seven Mile Beach condominium developments.”
The 10-storey resort, which is currently under construction, is located between the Wharf Restaurant and Poinsettia Condominiums on West Bay Road and is being developed by Pageant Beach Hotel Ltd.
“Not only will the Grand Hyatt be Grand Cayman’s next five-star internationally branded resort (The Ritz-Carlton is the only other five-star resort), but it will incorporate the most current building styles and cutting-edge interior designs,” Mr Lund furthered.
Studio, one, two and three-bedroom residences start in the low US$700,000s. The residences have been one of the fastest selling resorts in the Caribbean, exceededing more than $64 million in sales prior to construction, Mr Lund added.
“Residences will have 10-foot ceilings and nine-foot sliding glass doors across the beachfront of the residence, with an abundance of natural light. The views of the beach, Caribbean Sea, cruise ships, and George Town will be absolutely stunning,” he said.
Mr Lund said they expected to sell all residences before construction is complete.
Resort amenities include six restaurants, a 12,000 sq. ft. destination spa and fitness centre, three resort-style swimming pools and jacuzzis, fully serviced beach cabanas, a state-of-the-art screening room, a 25,000 sq. ft. indoor outdoor conference meeting space, beach activities including snorkeling, diving and water sports, Grand Social Clubs, a variety of shopping boutiques, steam and sauna room, five-star concierge service, kids club, 24-hour room service, 24-hour valet, 24-hour front desk and 24-hour security.