Published: World Property Journal, January 2016
Cayman Island-based Dart Realty announced this week that PwC has relocated its Cayman Islands’ office to Camana Bay from George Town, the country’s capital. Specifically, PwC relocated its offices to 18 Forum Lane, an 85,000-square-foot office and retail building completed late last year. The company now occupies 26,000 square feet in the building, including the top floor.
PwC is the latest in a string of financial and consulting firms to lease space at Camana Bay,a 600-acre mixed-use New Urbanism town created by Dart Realty shareholder Ken Dart.
“When we announced our plans to move to Camana Bay, staff morale immediately changed and everybody sensed the excitement around the office,” said Peter Small, Partner at PwC Cayman Islands. “With all of the lawyers and accountants, Camana Bay has a strong professional aspect, but it also factors in family with schools, restaurants and different options in a modem and upscale environment; it’s a major town square. It’s a good decision to be in Camana Bay.”
The building is slated to become the Caribbean’s first mixed-use commercial property to achieve LEED Gold certification, and is already LEED Gold certified in design. With intricate design detail such as metal sun shades inspired by the corrugated zinc roof of old Caymanian cottages to minimize solar heat gain, 18 Forum Lane marries the artful and practical at every opportunity. In addition to green initiatives incorporated into the architectural design, recycling excess building materials was promoted during construction, as well as ensuring minimal impact to the surrounding natural environment.
“With over 185 employees and 49 years’ experience in the Cayman Islands, PwC exemplifies the world-class firms that have chosen Camana Bay as the place to locate and grow their business,” said Jackie Doak, Chief Operating Officer of Dart Realty. “It is a privilege to welcome such a prestigious financial services firm to the Camana Bay community.”
With the addition of 18 Forum Lane, Camana Bay’s office portfolio will exceed 385,000 square feet. It currently comprises 94 Solaris Avenue, 62 Forum Lane and 89 Nexus Way, as well as office suites encircling Camana Bay’s lushly landscaped courtyards on Market Street. Buildings overlook artful gardens or the Camana Bay Harbour, some with sea-to-sea views from North Sound to Seven Mile Beach. At up to $60 per square foot for prime waterfront spaces, these offices command rates commensurate with leading markets and financial centres.