GEORGE TOWN, Grand Cayman (BBLL) -- A development agreement has been signed between the Cayman Islands Government and Beach Bay Land Limited (BBLL) for the construction of St James Point, a $200 million, mixed-use luxury resort in the district of Bodden Town, Grand Cayman.
Set to become a Caribbean icon, St James Point will provide a unique experience with service levels unprecedented within the region.
Mr John David Layton, Principal and Managing Director of Beach Bay Land Limited, said the development team envisioned a 200 room hotel, with 75 residential units at St James Point, managed by a constellation of world renowned brands offering multiple signature restaurants, innovative retail and spa experiences as well as new frontiers for water sports activities.
“Our vision, implemented on a site with a spectacular beach, secluded location, superior infrastructure, airlift and natural beauty, provides everything necessary from a location to compete successfully.”
St James Point shall create over 1,000 jobs, including 750 during construction, supported by local suppliers and partners. Over 325 permanent hospitality jobs will be created as the project opens. The developer is committed to providing training and internship opportunities for Caymanians. Many more jobs will be created through increased demand from allied vendors and businesses.
“We are committed to providing employment for Caymanians and ensuring the project provides real financial benefit to the Cayman economy and Caymanian owned businesses,” Mr Layton said.
Premier of the Cayman Islands, Hon. Alden McLaughlin spoke of the economic benefit from jobs that will be created directly and indirectly by this project.
“It is estimated to increase the islands’ gross domestic product by nearly 2%.”
Hon. Moses Kirkconnell, Deputy Premier and Minister of Tourism, said he was pleased to be marking another important milestone for Cayman’s tourism industry.
“The signing of this agreement signals the start of Phase One of a new tourism development that will greatly enhance our tourism product.”
Minister Kirkconnell said the Eastern districts and Bodden Town would derive great benefits from having a luxury resort in its midst, by providing sustainable employment and a broadening of the tourism offering.
“Once opened, this development will add to the 5,200 rooms currently available across our Islands for the enjoyment of guests who vacation with us.”
Designs for the project will be unveiled in the coming months, with the hotel scheduled to open in late 2018.
About Beach Bay Land Limited
Beach Bay Land Limited (BBLL), headquartered in George Town, Grand Cayman, is a disciplined and dedicated team of Hospitality and Real Estate investors. BBLL have partnered with a long list of professional and trusted local and overseas advisors. -- www.beachbaylandltd.com