Dart gobbles up another 7MB property
(CNS): The Dart Group has acquired another beachfront property on Seven Mile Beach. According to a press release published on Dart’s website, the Cayman Islands’ largest investor has entered into a deal with Seven Mile Suites Ltd, which owned the Comfort Suites in the heart of Grand Cayman’s famous tourist district. The hotel is a franchise of the Choice Hotels group and around 90% of the staff at the hotel are Caymanian.
Gary Rutty, Managing Director of Seven Mile Suites Ltd, said in the release that the decision to sell to Dart marked a new chapter for the hotel after 20 years of building up the business. “We are proud that Dart sees the value in our business,” he said, as he thanked the staff for making it a success and wished them luck.
The Dart Group said that all existing staff will be “offered the opportunity to continue employment under the new ownership”, though it is not clear whether their terms and conditions will remain the same or if everyone will, in the end, get to keep their job.
Meanwhile, Dart Chief Executive Officer Mark VanDevelde said the latest acquisition “complements” the developer’s property portfolio.
“With the planned purchase of Comfort Suites Seven Mile Beach, we can ensure a range of accommodation offerings for a variety of visitor demographics,” he said. “We recognise the strength of the hotel’s performance and the dedication of its staff and management team towards its continued success. This planned investment demonstrates Dart’s confidence in the strength and resilience of the Cayman Islands economy.”
While the extent of Dart’s ownership of land and properties in the West Bay Road area and George Town is not all in the public domain, the developer has a huge property portfolio. The group owns the Kimpton, the Ritz, the Beach Suites, Royal Palms and many other undeveloped plots on Seven Mile Beach, as well as Ken Dart’s own private property.
The Dart Group, easily the Cayman Islands’ largest land owner by far, has never revealed the true extent of how much land and commercial enterprises it owns, but with land in most districts on Grand Cayman as well on both of the Sister Islands, some believe the group now owns more than a third of the islands’ land mass.
Like him or loath him you cannot Knock anyone for trying to make money. If you all had the money and opportunity Dart has you would do the same yourself. Anyway, he acquired land and properties because Caymanians sold them to him. Whose fault is that?
There are various ways to make money strangling poor countries is not ethical… If you looking into the various ways (vulture funds etc,,) How they exploit poor areas of the country for cheap labor gave up there citizenship in the US because they didn’t want to pay taxes. Duped ex-wives are even family members. Do some research on these guys. Making money is great, but these guys are a real piece of work.
Maybe he can stop buying up properties on Seven Mile Beach like The Comfort Suites, which was one of the only affordable, decent places to stay on the beach in that area, which he will probably turn into another over-priced elitist hotel most normal, decent people will not be able to afford to stay at. That is what disgusts me about people like him born into ultra wealth, he has never had a normal life where he can relate to the rest of humanity, and not only wealthy people are good, decent, clean people, there are a lot of us average-income people who are good, decent, and clean people and deserve to be able to enjoy staying at areas like where Comfort Suites is located, or was before Dart took it away from the rest of us.
Interesting that the DART group was outbid on the Westin.
Not really. Likely just means someone paid more than it was worth and it’ll be back on the market soon as a result.
One day this group will be kicked off the Island just like everywhere else this venture capitalist business model has failed.
They do things well but greed overshadows their ambitions.
wrong…. vulture funds don’t employ thousands of people and become the backbone of a nations economy…
Both sides them not walk good.
Wow, I would really like to know how DART turned this into a beachfront hotel?
Dart has been a net positive for this country. There really is no factual evidence of anything that he has done that is bad for this country. On the contrary, there is ample evidence of all the positive things that Dart has done to to benefit this country.
Firstly, he has invested billions of dollars in the Cayman Islands economy allowing us to better whether economic storms. His injections through investments such as construction projects which create jobs for both Caymanians and expats. Such investments have a multiplier effect impacting even those not directly contracted or employed by the project. Local material vendors benefit; increased workforce to work on projects need a place to stay – so local landlords benefit. Local groceries benefit -people gotta eat, local gas stations, local entertainment joints etc. And other than the business owners, their employees too benefit. Government benefits from increased work permit fees and taxation of increased imported consumables. New jobs are created.
I was here during the financial crisis of 2007 and Cayman having Financial Services as one of the pillars of the economy was significantly hit. But our quick recovery was largely due to – I believe – the vast amounts of money invested into our small domestic economy by Mr. Dart.
Comparable jurisdictions such as Bermuda, did not have such a smooth recovery process.
Secondly, Dart has invested tens of millions directly into our infrastructure, creating world class roads in the Cayman Islands. This is something that has little to no direct benefit to him. The quality of the roads done by Dart have even influenced the quality of roads build subsequently by the NRA. There is marked difference in road quality- regardless of who built it pre and post Dart doing the West Bay road. The roads are not only promoting Cayman as an attractive jurisdiction with world class infrastructure, they have also positively impacted property owners – more so in the West Bay area with rising property values.
Thirdly, Darts investments inspire confidence in the jurisdiction. Even those who were cautious about investing here, feel more confident about it seeing the level of investment and confidence Dart has in the Cayman Islands.This has had a knock on effect – which partly explains our rising property market I believe.
Fourthly, he has created direct employment for many people and families through new businesses and acquiring and propping existing ones.
I feel fortunate that he chose these beautiful islands as his home.
Someone with such clear altruistic intentions and seemingly bagfuls of cash he willing to invest in a place, many other similar jurisdictions would kill to have someone like Dart invest.
Ki Ki, The main difference between Bermuda and Grand Cayman is that Bermuda has in place a clear plan for sustainable development be it their new airport, solar power development, the bus transportation system, strict restrictions on building heights, etc. While we here are a model of unsustainable development. Anything goes here and developers call all the shots with their friends. A very model of how not to do development from a sustainable perspective.
We can still have economic growth here, but it does not have to be a rampant free for all like we currently have.
You think a 50 storey building will be good for the country?
We don’t need buildings higher than 10 storeys.
We don’t need to turn this place into Dubai.
Dart provides employment, education, food, entertainment, housing.
in contrast, CNS commenters are like flies on shit.
Yeah, he is a mother Theresa in disguise.
No disguise. He is Mother f*ing Theresa! Oh is god sent if not the lord himself. He doth stuff our pocked with money and shiny things. Shiny things that we desire. I love him same as life. And Jacky.
If we’re the flies, guess who’s the shit.
A good one!
In this context, the CNS comments section.
And guess who’s the shit eaters
1:16, Bet you can’t wait for the 50 storey building too. Hope it’s built right next to where you live. See what you say then.
Last time I checked Cayman is a free market economy. Willing buyer and willing seller. Both Caymanian (although that doesn’t matter). No drama here. Move on.
You dreamin Ebanks if you think this is a free market economy on the Cayman Islands. Wake up. Bet you just sold out your birthright and called it a free market economy. Bet you profited nicely.
Ebanks, when you have the total concentration of land and wealth as we have on Grand Cayman, you no longer have a free market economy.
Dart has been a net positive for this country. There really is no factual evidence of anything that he has done that is bad for this country. On the contrary, there is ample evidence of all the positive things that Dart has done to to benefit this country.
Firstly, he has invested billions of dollars in the Cayman Islands economy allowing us to better whether economic storms. His injections through investments such as construction projects which create jobs for both Caymanians and expats. Such investments have a multiplier effect impacting even those not directly contracted or employed by the project. Local material vendors benefit; increased workforce to work on projects need a place to stay – so local landlords benefit. Local groceries benefit -people gotta eat, local gas stations, local entertainment joints etc. And other than the business owners, their employees too benefit. Government benefits from increased work permit fees and taxation of increased imported consumables. New jobs are created.
I was here during the financial crisis of 2007 and Cayman having Financial Services as one of the pillars of the economy was significantly hit. But our quick recovery was largely due to – I believe – the vast amounts of money invested into our small domestic economy by Mr. Dart.
Comparable jurisdictions such as Bermuda, did not have such a smooth recovery process.
Secondly, Dart has invested tens of millions directly into our infrastructure, creating world class roads in the Cayman Islands. This is something that has little to no direct benefit to him. The quality of the roads done by Dart have even influenced the quality of roads build subsequently by the NRA. There is marked difference in road quality- regardless of who built it pre and post Dart doing the West Bay road. The roads are not only promoting Cayman as an attractive jurisdiction with world class infrastructure, they have also positively impacted property owners – more so in the West Bay area with rising property values.
Thirdly, Darts investments inspire confidence in the jurisdiction. Even those who were cautious about investing here, feel more confident about it seeing the level of investment and confidence Dart has in the Cayman Islands.This has had a knock on effect – which partly explains our rising property market I believe.
Fourthly, he has created direct employment for many people and families through new businesses and acquiring and propping existing ones.
I feel fortunate that he chose these beautiful islands as his home.
Someone with such clear altruistic intentions and seemingly bagfuls of cash he willing to invest in a place, many other similar jurisdictions would kill to have someone like Dart invest.
If I gave you one million dollars to say something, would you say it?
Not sure I get the point being made, but there is not many things I would not say for a million dollars. 🙂
That’s the point. Thanks for stepping up. Money is everything to you. You shall have a good life here. Just keep your bar stocked.
Concentration of land and wealth has never been a good thing in history and has never ended well.
All of your arguments above could have also been valid at some stage with some benevolent Monarchs but eventually, through lineage, concentration of power tends to corrupt.
Wealth concentration is an unfortunate by-product of a necessary system. Capitalism! The alternative though – Communism – would be far worse. History does teach us that communism, though the utopian concept of it is attractive, has almost always never resulted in a benefit to society.
We are faced with a similar dilemma with Dart and the Cayman Islands. Do we reject his demonstrably beneficial and impactful investment in our Islands, made responsibly and from what we can tell with the best of intentions for the Islands, based on fear of what or may not happen some time down the road?
Believe that any dispassionate and rational observer would answer in the negative.
His continued investment and control does come with risks but ultimately the benefits far outweigh any of those risks.
False statement. Just the ones employed through his various Caymanian “buffer” labour broker companies. They conveniently take the immigration and work permit hassle away from his enterprise too. More smoke & mirrors…
I am told by someone who is employed there that all contracts are unchanged. Keep your Marl road mouth shut.
And you should stop spewing marl.
My post was in response to a previous post stating there are no minimum wagers employed by Dart. I agree, not directly employed by Dart. Ergo my response, I challenge anyone to prove my response wrong.
All I’m seeing what most everyone would be doing if they had money like Dart. The bigger the fish, the more the gobble. 🙂
But I never will forget, despite greedy folk, the invisible and all-powerful hand that drives and turns the economy any way “he” feels like, will provide for the needs of “his” righteous people.
Can’t help but wonder if Gary sold it for peanuts?
Dart owns 8 out of 58 (13%) properties on SMB. Granted the Kaaboo site is pretty sizeable but there are still a lot of properties he does not own (see below list).
Everybody always blows things out of proportion. It is pretty clear he does not own all of SMB.
Crescent Point
Plantation Village
Seven Mile Beach Resort & Club
South Bay Beach Club (Comfort Suites isn’t beach front)
Marriott
Regal Beach Club
Laguna Del Mar
Private Home
Private Home
Cayman Reef Resort
Royal Palms (Dart)
Coral Sands (Dart)
Private Home (Dart)
Private Home (Dart)
Sovereign
Cayman Club
Private Home
Lacovia
Watercolours
Beach Suites (Dart)
Colonial Club
Islands Club
Casa Caribe
Caribbean Plaza
Private Home
Meridian
Beachcomber
Watersedge
Coral Stone
Ritz (Dart)
Villas of the Galleon
Westin
Gov’s House
Pinnacle
Plantana
Great House
Avalon
Watermark
Harbour Heights
Public Beach
Kimpton (Dart)
Kaaboo Site (Dart)
White Sands
Heritage Club
Renaissance
London House
Commonwealth
Empty Lot
Anchorage
Christopher Columbus
Discovery Point
Private Home
Palms
Aqua Bay Club
Silver Sands
Drifter’s Cove
Sea Breeze
Boggy Sands Homes
Not yet … Thanks for providing him with a shopping list!
Bravo – someone did their research before commenting.
Well, you provided absolute numbers and did simple math. How about real analysis?
Be my guest, you will arrive at the same conclusion. He does not own the majority of SMB. Simple math is all that is needed to prove this.
He owns Lacovia too.
Sure he does…
https://www.caymancompass.com/2019/01/31/lacovia-owners-vote-to-replace-aging-condo-complex/
thank you for facts….which most folks around here have no interest in.
You did miss at least one but I’ll leave it to you to figure out.
I believe the empty lot next to Anchorage Club and formerly Victoria House is also owned by Dart.
Whoever voted the thumbs down take a taxi to the land registry to get an education.
The one the Government turned down when it was offered to them?
The Beach Suites was either sold or leased to two guys from NYC. I contacted on the redevelopment of it. They contracted Dart to do construction management though. You can see the vibe really isn’t a Dart establishment , it’s way more trendy than Ritz or. Kimpton.
we too broke to do anything #moneytalks
true..island would have gone bankrupt with out dart
That’s exactly why this vulture landed in the first place. A few reasons why Dart saw Cayman as a perfect opportunity in random order:
• Key politicians & influential people can be bought
• Facility to bend the rules with his money
• Relatively stable place to do business
• Caymanians by nature are a very tolerant people
• Tax free offshore jurisdiction
• Weak infrastructure
• Monopolies are allowed to flourish
• Everything is for sale
• Government lacks long term strategic plan
Dart’s PR team is out of touch with reality. Throwing bones (aka donations, scholarships etc.) from the master’s table isn’t helping his image anymore.
The only thing he can do to continue maintaining support of Cayman residents is to PROPERLY fix the Dump. Simply covering it won’t work. WtE would turn Grand Cayman into Chernobyl. It must be done using the latest available technology and the brightest minds in the field. CIG is not capable of doing that. They have no expertise. The cost would be astronomical. Only Dart can afford it and do it properly.
That would be HIS concession to the country he chose to be his home. If he does that, he will be forgiven by nearly all who hate him now.
wow…typical caymanian attitude…’why can’t someone else do it’
maybe start by clearing up your own mess…
Situation with the Dump is out of control. CIG even if they try, would accomplish nothing. You can’t continue, at least Dart people know, with development without fixing the Dump. Sooner or later it would peck your a$$.
What is VERY puzzling, visitors remain oblivious to its existence. Once they learn about it, through another fire or a disease outbreak, it would be too late to fix it.
Cayman residents also remain indifferent to the Dump’s existence, as if they are invincible behind the walls of their luxurious properties.
While tourism growth is applauded, nobody says a word that with each visitor the Dump grows taller. Who is the major contributor? 60,000 residents? 2+mil visitors? Developers with its demolition and construction debris? Has anyone conducted the analysis?
Dart acquire cheap accommodation for the foreign work crews they plan to bring in.
really?…how much is a cheap smb hotel to you?
Anything less than 100k a room, if to be used for staff housing, would probably be a bargain.
Acquire, that’s very diplomatic. Hell he had portacabin work camps setup near North Sound when Camana Bay was being built, no one said anything about the hoards of Indian workers he had shacked up there.
thank you ken, for your continued investment and generosity to theses islands.
No, thank you. You’ll be duly compensated for your thoughtful comments upon presentation of the ‘comments log’ per our agreement.
p.s. I expect My name to be capitalised.
7:07 your plebeian tone of mind is revolting
he will have our grandkids working at minimum wage alongside other nationalities…yet we have no one to blame but ourselvrs…while the world laughs….sad!!!
none at dart is on minimum wage.
stand up if you love the dart…stand up if you the dart…stand up….
I am Spartacus.
No, I AM Dartacus.
Oh, wait. You said Spartacus. NEVERmind.
I love what and how Dart has added to Cayman’s economy, but I think everyone is missing the real dangers in relying so heavily on one developer. It is not beyond the realm of possibility that the Dart organization (like any corporation) could find itself in financial distress at some point. The first thing to go in such a situation will be maintaining the properties. We would be left with deteriorating buildings all over the island. The other great danger in a one man show like Dart is what happens if the heirs don’t have the same interest in the Cayman Islands he does, or lack the skills to keep the company afloat. This happens all the time with closely held family businesses.
if dart goes bust…we are all doomed anyway…
You raise a very good point upon which I have thought long and hard over the past few years. That is the question of succession. We, the locals, have no idea, but I imagine some of the answer may rest with trusts. In fairness to Cayman this question should be answered sooner than later.
The point you raise is very important and thank you for having the insight to raise it.
This is a very good point and Cayman should consider attracting other wealthy familes to set up shop on the island. The island needs more competition and more diversified wealth on the island to keep us afloat in the hard times and competitively ahead.
Talk about monopolistic! Unreal how one private family (with a murky past) can own and run an entire country with impunity.
wrong.
6:54am, answer of the optimist:
Dart Corporation gets into problems (eg, “Sir” Allen Stanford in Antigua) or loses interest in Cayman.
Dart has fire sale, property prices in Cayman fall, real estate bubble bursts, banks foreclose, economy nose dives – see Antigua and Barbuda.
Years later, we come out on the other side (Antigua still waiting) with many hard lessons learned, less concentration of property ownership, affordable housing, etc
Not a very logical argument.
For example, the office buildings at Camana Bay would only require a “fire sale” if all of the law firms, accounting firms, businesses move out and no longer pay rent.
Not a very logical comment on the original argument.
Who would buy the real estate at “inflated” market rates if the seller is forced to sell because of financial distress?
I suppose that you would expect the “law firms, accounting firms, etc” to buy at inflated rates (while the economy is in free fall) because they love Cayman and Ken Dart?
Hence “fire sale”.
Hint: real estate bubble burst in South Florida, post Lehman Brothers.
Murky past? He makes cups and invests in government bonds.
LOL!!! “Invests in government bonds.” Yes, invests in government bonds and then calls them in, nearly causing the economic crash of several countries. Vulture capitalists that has intentionally killed economies on the backs of the people.
He’s not a nice guy, okay? We are little scurrying ants to him, who whinge about his actions, and if enough of us make a heap, he’ll stamp us out as he’s done before.
And what exactly do you call governments that borrow billions of dollars with no intention of ever paying it back? Some other kind of vulture? Who do you think pays the price when 1st world nations lend to these countries? If your answer isn’t everyday people then you need to learn a thing or two about it all works.
Dart was the debt collector here.
If you buy a bond, you expect repayment. Governments shouldn’t issue them if they don’t expect to have to repay them?
How does that make him a bad person?
He is a bad person because he found a process that makes him tons of money by calling in the bonds before maturation, and he has moved from country to country, leaving chaos in his wake.
How much money is enough? What kind of person would do this over and over again?
You can’t buy what isn’t for sale.
Wake up Cayman.
Rutty is Caymanian through and through. Sold out by another of your own for the big dosh.
yep…caymanian sold to a caymanian.
Good, then everyone should be happy, nah?
But wait!
Seems like everyone is not happy.
Dart is a Caymanian by law, but not by heart or spirit.
Jamaican really but ok.
How is he Jamaican? Because one of his 8 great grandparents was born in Jamaica ? Gary has deep Caymanian roots on both sides.
You can take them out of yaad but….
You may not be able to buy things that are not for sale, but there are other ways to get them.
The Dart Group cannot buy what individuals aren’t selling. His organisation employs a vast number of Caymanians and they are treated right, not like some other companies that exploit their staff. I don’t understand how persons like the development one day then criticise it another. Just saying.
Does anybody know how this will impact the dive operation based there, Ambassador Divers? I’ve been diving with them for years, going back to the Seaview days.
This is madness.
No.
This is Sparta.
And just what happened to the old Sparta?
Slight error in this story. Comfort Suites is not beachfront. South Bay Beach Club is between Comfort Suites and the beach.
it has (small) beach frontage. please apologise
beach access
Dart owns a third or more of Grand Cayman???? If true, someone has been derelict in their duties. How could this be allowed to happen? Do minimal research on his business practices and you will see that he often invests in developing countries and then crushes them when they are most vulnerable to extract maximum profits.
We’re different! 😂😂🙈
Keep up with your minimal research.
Keep up with your minimal research.
google disagrees with your BS
No, it doesn’t. It is clear the type of person Ken Dart is. I just hope that most people here ignore you and me both, and do their own research.
You wouldn’t like that though, would you?
It’s easy folks. Google “Kenneth Dart Vulture Capitalist”
Well, if it’s on Google it must be true. I recommend just looking at page one.
Dear god. Please just google what a bond is and ponder the difference between owning land and a government bond. Hint; one matures and the issuer has to pay the owner the notional amount or default.
So, let me just check: Kimpton, Ritz, former Hyatt, new Beach Suites, Royal Palms, land next to Royal Palms, all of Camana Bay, most of Barkers, all that land by Safehaven including the land beneath Lime Tree Bay, former golf course by Brittania, Barefoot Beach, Soleil d’Or, bunch more sites in the Brac, land above our roads, the undeveloped land between public beach and the ETH, Regatta Business Park (I think?), a whole pile of our interior mangroves, Kaaboo site and the mangroves next to it. What other places am I missing?
There are large swathes of undeveloped land owned by their hydra of nominee companies – check Appendix of NRA Agreement from 2015 for a map. I’m amazed how few (including our media) have read the most significant back channel agreement in the territory’s history, and then act surprised when adjoining parcels are acquired.
Where on the Brac?
Everything that Mirjana Mirjanic used to own and more. They didn’t just get Soleil d’Or, they got it all from her. I also forgot the Landmark Building, Island Plaza, all the Island Companies, Point of Sand in Little Cayman, the Yacht Club, Paradise Villas in Little, North Sound Golf Club. What else.. Let me think a bit more.
I still forgot all that land in Bodden Town which he was going to use for the dump. 100 acres of so. I also forgot the huge area of land north of Wyndham by Spotters Way.
Starfish Point, Cayman Distributors, Big Daddy’s, Churchill, West Indies Wine Company, Providence Properties as well as Barkers and some properties west of Barkers…
Starfish Point 🙂
It is way more than 1/3 of the island that he owns. As long as we do not have beneficial ownership nobody will ever know the extent of what he owns.
You have listed a great deal of swathes and he owns more than just Point of Sands in Little.
Wonder when the people of Cayman will snap out of it. (TBH it is pretty much too late)
BTW CNS – That property is NOT beachfront. They have a very easy beach access but that is not called beachfront.
Add these: NS, just before Rum Point. At the back of Midland Acres, former proposed site for BT Landfill. Stretch of beach in Cottage. Point of Sand and other sites in Little Cayman.
There’s definitely others out there who know of more but are afraid to say.
Old Driftwood site
Point of Sand in Little Cayman. Government screwed up on that one.
dart is the economy of cayman. get used to it. you should be lucky you have him.
caymanians will always complain and will continue to bit e the hand that feeds them.
Certain I am going to be delighted when only billionaires will be able to afford to live on Grand Cayman. Too hell with sustainable development.
Dart Mile Beach open for business. How long before all of 7 mile is private?
???the private element will not change.
dart is the only developer who has donated beach land for public use
Funny things you say. Beach land shouldn’t have ever been in his possession to start with. Donating “beach land for public use” just adds insult to injury.
His PR team is out of touch with reality. Throwing bones (aka donations, scholarships etc.) from the master’s table isn’t helping his image.
The only thing he can do to continue maintaining support of Cayman residents is to PROPERLY fix the Dump. Simply covering it wouldn’t work. WtE would turn Grand Cayman into Chernobyl. It must be done using the latest available technology and the brightest minds in the field. CIG is not capable of doing that. They have no expertise. The cost would be astronomical. Only Dart can afford it and do it properly. That would be HIS concession to the country he chose to be his home.
It is interesting that Mark Develde says this compliments the Dart portfolio of hotels..Lets see for how long..Have a feeling this will be razed in a short time once he completes the purchase of the Marriott..This is worrisome.
I guess the Rutty’s really needed the cash but hope people like Joe Imperato and others hang on to theirs for the future..
yeah that noble Joe Imperato who wanted to build a marina in East End… thank goodness we have foreigners like him… remember when Alden, Arden and Ezzard were out in white shirts protesting that marina? people have memories like goldfish
his record of quality development speaks for itself. everything he does…he does it right.
in dart i trust.
I am a Caymanians and not a dartbot. limit how much one person can own.
But people don’t want to live in concrete jungle even if it is of a high quality
i think dart knows alot where people want to live and what they want from their developments….
Pretty soon those of us natives remaining will be know as “Dartlandians”.
a native?…what is that?
God help us, we pray!
I am wondering if our elected leaders cannot see what this organization is doing? I am afraid if this company is not limited to the amount of property, businesses, hotels, beaches, what do you think is going to happen in the future?
Dart has ruined the whole character of the island and continues to do so. Now Comfort Suites! Dart only has a few more properties left before he owns all of 7mb. A very sad state of affairs! I believe 7:10 is correct, Comfort Suites will be torn down and couple more “ luxury” cement towers will be built.
ruined the character of the island?…how?…and how do you prove that?
cayman has more tourists than ever.
Caymanians should come first!
That’s not what my wife says.
wait…
It has nothing to do with the number of tourists. The character of the island is being ruined with the amount of asphalt and concrete.
Oh no! That beautiful building that is the Comfort Suites, torn down! Lost forever, say it ain’t so!
We do need to start listing these buildings and roads which are of historic significance.
Before any “luxury” cement towers can be built, they need to be approved by the CPA. As much land as Dart controls, he does not sit on the CPA.
You said it
“Dart Controls”
End of story!
what is he doing?…please explain….
8:25 how simple can it get some body is selling and somebody is buying!
11;06pm – PunCtuATion iS haRd aFteR a feW aDuLt beVerAges, eh!
Bo bo when you have one person who owns practically everything, guess what, he will set the bar for pricing whether high or low depending who’s business he wishes to purchase or force to close. How do you expect any person wishing to start a business go up against this guy? I guess you didn’t learn what he tried in Argentina and Belize either?
Don’t forget the Bahamas as well.
….. and Greece.
big money comes first!
Guaranteed. The old building will come down next year and a new 10 storey luxury building with condos will be built in its place.
possibly….. he is private land owner who re-develop within the laws of the land…
just like anyone else…
He abides by a different set of laws.
really?…please explain.
Which ones has the organization broken?
Can you substantiate your nonsense?
There may be half truths in all of this. It appears his organization gets concessions (that it negotiated) that are not available to its competitors. He enjoys economies of scale that through his sheer financial might, are not available to his competitors. He enjoys the benefit of networks of his own companies doing everything from retail to construction to real estate that are not available to his competitors. He has access to decision makers in the government in a manner that is not available to his competitors. He can finance anything he does on terms that are far less onerous than the terms that would be faced by any of his competitors.
Everything he does appears proper and lawful, but the pitch (by design and with government permission) is plainly slanted in his favor.
The machine is now able to grow unfettered, with the consequence that ultimately if the organization does not control an element of the economy, it will only be because it does not want to.
The good news is that the organization is generally filled with first class people with vision and integrity, and their products reflect their brand at the highest standards. They cannot afford for Cayman to fail, and so at the very least they provide us all with a level of insurance unrivaled in the region.
Without paying any fees…?
Gov’t surplus is primarily a result of recent stamp duty paid by…..
Just in time for when CHEC gets here for the new port and then can start doing Dart’s work and get rid of the high priced local contractors.
This will be housing for foreign labour.