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Mountain of Tires to Be Made into Landfill

Local firm Island Recycling and its overseas partner Guernsey Recycling, are to shred the tires in the George Town landfill site, and use them as fill in local construction projects.

The contract was signed on Monday 15th August for $1.25 million from the Environmental Protection Fund, after five previous failed bids to sell or give the tires away.

The work is expected to commence within the next four months, once specialized equipment arrives on the island, and is expected to take around 11 months to shred the stockpile of tires.

The Environmental Protection Fund has been criticized in the past for taking far to long to come to a deal involving the tires.

Premier Alden McLaughlin said “The landfill is an issue and has been an issue for the country for many, many years, and while many people believe we are moving far too slowly, we are absolutely committed to developing a long-term plan that creates a solution that will last the course of the next 50 years.” (more…)

August 22, 2016 Blog, , Read more >

Dart Buys Little Cayman Forest

Dart, one of the biggest developers in the Caribbean, has had a busy couple of years in the Cayman Islands, buying up land, beachfront, roads, hotels and restaurants on Grand Cayman. Now they have turned their attention on to the Sister Islands.

Most recently a large piece of forestland on the Little Cayman was bought back in March. Whereas on Grand Cayman the idea was to develop, the idea for Little Cayman is to preserve – for now.

The new purchase on Little Cayman will be held undeveloped for conservation with the possibility of creating a public hiking trail.

Previously Dart has bought hundreds of thousands of acres in remote areas around the globe for conservation, in Patagonia, Australia, New Zealand, U.S., Mexico, Jamaica, Canada and now Little Cayman. (more…)

July 15, 2016 Blog, Read more >

Why Ocala Florida is a great place to invest

Ocala Florida is conveniently located in the middle of three massive cosmopolitans, Jacksonville, Tampa and Orlando. Ocala being so central you have access to State freeways, worldwide airports, shipping ports, attractions and resulting commerce.

The ease at which you can access recreational and leisure destinations make Ocala ideal for investment. Ocala has many tourist friendly parks and preserves, and the nearby coastlines give ample beach space.

Florida is known globally as the Sunshine State. The beautiful sunny skies and clean country air make cities like Ocala prime stops for retirees and vistors alike.

Today’s extremely affordable rates are a magnetic force drawing investor funds to Ocala and Marion County. Properties with the prospect of getting fantastic revenue are in great abundance throughout Ocala. (more…)

June 8, 2016 Blog, , , Read more >

Dart Buys in Little Cayman

Dart Group continued with there busy year and confirm it will buy Paradise Villas resort and Hungry Iguana restaurant on Little Cayman.

This will be Dart’s first project on the Sister Islands, and they have reassured people that it will keep in the style of the island.

“We share the widely held view that Little Cayman’s charm comes from its quaintness and unspoiled nature. We intend to help preserve that character for this and future generations,” said Mark VanDevelde, chief executive officer of Dart Realty.

Paradise Villas is the only 100% Oceanfront Resort on Little Cayman, and a popular accommodation spot for dive tourists exploring the islands Bloody Bay Marine Park. The villas are also part of TripAdvisor’s Hall of Fame for obtaining Certificate of Excellence for 5 years in a row.

The Hungry Iguana bar and restaurant is one of only a few nightsports on the island and serves as a de facto airport departure and arrival lounge. The ‘Iggy’ also has the only true waterfront dining on the Island. (more…)

June 8, 2016 Blog, , , , Read more >

West Ocala to have $60 Million of Upgrades

The West Ocala Community Redevelopment Area will see $60 million pumped into the area over the next 30 years. The program will bring upgrades and aesthetic improvements that the area has needed for decades.

“I believe that the West Ocala is long overdue, and although it will be slow moving in the beginning, it will allow the compounding of dollars to help towards future projects,” Ocala City Council President Jim Hilty wrote in an email.

Over the next three decades the funds will be aimed at projects including beautification of the State Road 40, Pine Avenue, Martin Luther King Jr. Avenue, State Road 200 and U.S. 27 gateway corridors through West Ocala; upgrades in the historical section; and more housing development in the formerly blighted Busbee Quarters area now known as Phoenix Heights.

These redevelopments come at a good time for Ocala, with house prices finally starting to increase. According to the latest report from Ocala/Marion County Association of Realtors, there has been a 15.6 percent boost on the price of an average single-family home from the previous year.

Moving forward, the city is feeling very positive and hopeful about the proposed changes and improvements. Efforts will be made to reach out to the current residents of the area for their insight and input in order to make Busbee Quarters as great as possible. Nothing but positive change is anticipated for West Ocala.

CrownWorld offer an opportunity to purchase building plots which have full and irrevocable planning permission for residential family homes to be developed on a secure gated subdivision in Ocala. Buyers can confidently take advantage of the upturn in the US real estate market as prices begin to rise but yet still invest in the precious commodity of land. For more information please go to our contact page or email info@crownworld.com and leave your details.

May 25, 2016 Blog, , , Read more >

Cayman’s 5-Year Plan for Tourism Department

The Cayman Islands tourism department is seeking a 5-year plan that will help relieve the key attraction, Seven Mile Beach, and spread growing visitor numbers across Grand Cayman.

George Town has dramatically changed over the past three decades, and Seven Mile Beach is loosing its appeal as more and more people come to the island and overcrowd the iconic beach.

The strategy over the past couple years has been to focus on visitor growth. Now that the 300,000 targets has been met and surpassed that focus now shifts to managing that growth in a sustainable way.

“It is not just about numbers anymore. It is also our ability to handle that volume.” Said Director of Tourism Rosa Harris. “Developers will have their ideas for what they want to do, but we need our own vision for the type of development we want to encourage.” (more…)

May 19, 2016 Blog, , , Read more >

Limited Liability Company Arrangement for the Cayman Islands

A limited liability company arrangement has been approved by lawmakers as a new type of business vehicle for the local financial services industry in the Cayman Islands.

The bill will make Cayman the first Caribbean overseas territory to implement a limited liability company, or LLC, arrangement.

“It is certainly a very exciting development for the financial services industry,” Financial Services Minister Wayne Panton told Legislative Assembly. “In five years, this legislation … will be viewed as an iconic product in the Cayman Islands.”

The Limited Liability Companies Law will “complement,” not replace, existing Cayman Islands business vehicles, he said. The designation allows the LLC firm to use the quicker, “more flexible” accounting rules of a partnership but provide a legal designation of an entity as a corporation. It is essentially a mix of Cayman’s current rules for an exempted company and an exempted limited partnership. (more…)

May 17, 2016 Blog, , Read more >

Cayman Business Drives Property Boom

Cayman islands attract high-quality clientele through having a sophisticated and robust financial services industry at the heart of its economy. The result of this is that other business can flourish from its strong foundation.

By not solely relying on the tourism industry, like many Caribbean islands, the diversification and strengthening of the economy lead to a much more sustainable future.

Amidst increased consumer and investor confidence Cayman Islands property market is now gaining momentum. Property transactions are picking up and residential property construction is improving considerably.

The number of single-family home sales has increased from US$18,308,833.16 to US$44,910,332.77, which is a 30 percent increase. This represents a 145 percent increase of the value of these properties sold. (more…)

April 29, 2016 Blog, , , Read more >

Housing Market Gaining Momentum in Cayman

Market gaining momentum

The ultra-luxury sector of the residential market is really starting to establish itself and confirms that international investors are seeing real value in Cayman real estate product.

There has been remarkable recent activity in the $3 million and higher market in high-end residential homes.

The market in this case appears to be made up of both local buyers and those from overseas looking to have their own space while they live here, either temporarily for a few months of the year, or permanently.

During the last nine months, the market has been extremely buoyant. The buyer’s market of the last few years is giving way to a seller’s.

Growth is centred along Seven Mile Beach for condominiums, and Cayman Kai, on the island’s north, for single-family homes. (more…)

April 21, 2016 Blog, , , , , , , , , , , , Read more >

Cayman Economy in a Great Place

In 2010, during the height of the global recession, the volume of Cayman’s property transfers dropped to $300 million, six years on it is safe to say that Cayman has recovered. In the past year Cayman has seen property transfers grow 11 percent to a total volume of CI$600 million, beating 2008s high of $560 million.

Tourists numbers and spends have also been on the increase with cruise ship tourists spending approximately $100 per day. A total of 1.7 million arrived on the island, up from 1.6 million the previous year, but still short of the record 1.9 million in 2006.

People flying into Cayman hit a 15 year high as air arrivals topped out at 385,378 during 2015. More than 80 percent of arrivals came form the United States or Canada, 9 percent from Europe and the rest traveled from elsewhere.

There’s also plenty of public and private money being spent across the island, with renovations to the cruise port in the early stages and upgrades to the airport currently underway. Health City is expanding medical tourism, and has announced a $25 million capital investment program this year. Cayman Enterprise City is scheduled to start work on two $25 million gateway buildings, kicking off a 20 year, $300 million project to build a Special Economic Zone. (more…)

March 15, 2016 Blog, , , , , , , , , , , , Read more >

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