Media Release: Dart Real Estate and NCB present OLEA: The first for-sale residential development at Camana Bay

November 2, 2018News Releases
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Cayman Islands-based developers Dart Real Estate and NCB Group introduce OLEA, the premier for-sale residential development at Camana Bay, a 685-acre New Urbanist mixed-use master-planned community. The waterfront community will consist of 124 condos, townhomes and duplexes constructed over four phases, located along the southern reach of the Camana Bay Harbour and adjacent to Cayman International School (CIS).

“Over the past 11 years we have seen tremendous growth in the Camana Bay community. This growth continues with the planned expansion of CIS to double the capacity for the number of students, the construction of the new Foster’s Food Fair supermarket and a planned five-star resort on Seven Mile Beach,” said Dart Executive Vice President of Real Estate Development & Operations Justin Howe. “For-sale residential is the logical next step in the master planning of Camana Bay’s community and fills a gap in the market for those who want to live in the amenity-rich environment of the Camana Bay Town Centre.”

Buyers at OLEA can expect quality construction, sustainable building design, beautiful landscaping and the rich amenities that are a hallmark of both Dart Real Estate and NCB’s developments. Sustainable features include solar panels and an advanced geothermal cooling system for each home.

Amenities include a central family park, community garden, fully equipped gym, resort-style swimming pool with expansive deck, outdoor community BBQ and dining area, children’s playground and waterfront boardwalk.

OLEA’s amenities and sustainable features are distinctive among residential communities on Grand Cayman, but the development’s proximity to the Camana Bay Town Centre and Seven Mile Beach sets OLEA apart from other residential offerings currently available in the Cayman Islands real estate market.

Residents of OLEA will live on prime real estate property situated between Seven Mile Beach and the North Sound and can easily traverse from “sea to sound” in the pedestrian-friendly town.

NCB Group’s Managing Director Matthew Wight said his team is proud of the collaboration with Dart to bring the premier residential community to Camana Bay. “Our combined expertise, experience and commitment to building quality, sustainable developments will ensure the success of OLEA and surpass all expectations. Our preview sales launch to employees and tenants of Dart and NCB was met with an overwhelmingly positive response and we are thrilled with the number of reservations to date. It confirms that our vision for OLEA is in line with what the people of Grand Cayman are looking for in terms of homes and communities and we’re excited to unveil this exceptional neighbourhood to the general public.”

OLEA was previewed to NCB Group and Dart Real Estate staff and tenants, who had the opportunity to reserve their choice of home ahead of the public launch. This has resulted in nearly two thirds of 64 available residences in Phase 1 and 2 being reserved to date.

“We knew there was pent-up demand for a for-sale residential community at Camana Bay, but the initial positive feedback received still exceeded our expectations,” said Dart Real Estate President Jackie Doak. “This is a clear indication that Camana Bay plays a pivotal role not only in the development of the community itself but in the wider Cayman Islands economy.”

Designed by Cayman Islands-based architecture firm TRIO, OLEA will feature a range of homes ranging from one-bedroom condominiums to four-bedroom townhomes. The development will break ground in early 2019 with Phase One scheduled for completion by August 2020 and Phase Two by February 2021.

To view Camana Bay’s first for-sale residential development, visit Dart Real Estate’s YouTube page.

For more information on purchasing at OLEA, visit camanabay.com/olea

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