Author: michelle

For first-time home buyers and investors in the Cayman Islands, Bayside is an exceptional choice.

Situated in the heart of vibrant West Bay, this thoughtfully designed community is more than just a place to live—it provides a lifestyle centred on convenience, connection, and comfort.

Location that’s hard to beat

Living at Bayside means having the best of West Bay at your fingertips. Set just steps from iconic Seven Mile Beach, residents can enjoy breathtaking sunsets, crystal-clear waters, and weekend strolls along some of Grand Cayman’s most untouched coastline. Whether you want to relax or explore, Bayside’s central location ensures everything you need is within reach.

Grocery runs are effortless with the newly renovated Foster’s supermarket next door. Craving a night out? West Bay is home to some of Cayman’s best restaurants, many with ocean views. Wine lovers will gravitate to the nearby Jacques Scott, which hosts regular tastings, and quaint Le Petit Bar. For a change of pace, the Camana Bay and George Town hubs are just a short drive away, offering diverse entertainment and dining options.

Designed for modern living

Bayside’s one- and two-bedroom condos are tailored for today’s lifestyles. Open-plan layouts enhance the space and maximise natural light. Versatile dens in every unit provide an extra room that can adapt to your needs, whether as a home office, children’s play area, or extra bedroom.

The interiors reflect a sophisticated, Scandinavian-inspired aesthetic, with calming palettes and clean lines. Fully equipped kitchens with stainless steel appliances and large islands make cooking and hosting easy and enjoyable.

Community amenities for families

Bayside is more than just a collection of homes—it’s a community. The family-friendly amenities include a large communal pool where residents can cool off on hot days, shaded cabanas for socialising, and a children’s playground for creating lifelong memories. The al fresco cooking and dining areas invite barbecues, sundowners, and connecting with neighbours and friends.

The ideal choice for first-time buyers

With its competitive price points and prime location, Bayside allows buyers to own a modern, thoughtfully designed home without compromising quality or lifestyle. Market demand has already been proven by the community’s rapid success, which saw the development at 80% sold within two weeks of launch.

For young professionals and families looking to take their first steps onto the property ladder, Bayside represents an incredible opportunity. Its affordability, family-focused amenities, and stellar location make it the perfect place to call home.

Your Bayside lifestyle awaits

Sip coffee on your private balcony, enjoy the community spaces with your children, or take a sunrise walk along the beach—Bayside offers an enriching and attainable lifestyle.

Learn more about the remaining units. BAYSIDE

NCB Group Celebrates Hotel Roof Topping at Kailani Grand Cayman

NCB Group recently celebrated a key construction milestone at Kailani Grand Cayman, a Curio Collection by Hilton hotel, with its roof topping. The hotel will be the first business and wellness property of its kind in the Cayman Islands and a part of the global Hilton portfolio, recognised as the world’s most valuable hospitality brand. Kailani Grand Cayman is slated to open its doors to guests in late 2025.

Kailani Grand Cayman will offer a unique blend of luxury, business, and wellness amenities– appealing to Wellness Tourism, the world’s fastest-growing travel sector set to reach US$1.15 billion in 2025. Located on prime beachfront real estate, the hotel will feature a mix of one to three-bedroom suites, farm-to-table dining, a skyline spa, and conference facilities.

Matthew Wight, Managing Director of NCB Group, shared his excitement about reaching this important phase.

“We are thrilled to announce the roof topping at Kailani, a project that represents NCB’s first venture into the hospitality sector. Tourism in the Cayman Islands is on the rise again, with over a quarter million stay-over visitors in the first half of 2024, and we hope to further complement this growth by adding an additional 117 beds to Grand Cayman’s hotel room inventory.”

Kailani Grand Cayman’s central location offers investors a unique opportunity to diversify their portfolios, while receiving 50% of the gross room rental, six-weeks stay at the hotel per year, and year-round resort access and hotel perks. With one of the most competitive prices per square foot available for prime beachfront property in the Cayman Islands, Kailani Grand Cayman presents an attractive option for those looking to invest in the Islands’ growing tourism and hospitality markets

Naul Bodden, President of NCB Group, praised the team’s efforts.

“The roof topping is a significant achievement, and the result of our group’s multiple different service lines working together. We are proud to see Kailani progressing, and we look forward to our entrance into the hospitality space with this flagship project.”

As one of six active development projects under NCB Group’s portfolio, Kailani Grand Cayman will set a new standard for luxury wellness and business travel in the Cayman Islands and be a valuable addition to the tourism industry, assisting with the sustainable development of the sector.

For more information on Kailani Grand Cayman or to enquire about remaining investment opportunities, please contact NCB’s Senior Sales and Marketing Manager Tania Knapik at tknapik@ncbgroup.ky

Developers celebrate topping-off milestone ahead of Hurricane Beryl   

WAVES, the exclusive oceanfront residences along Cayman’s northwest coastline, has achieved a significant milestone with the completion of its roof topping. Despite challenges posed by Hurricane Beryl, NCB Construction ensured the project remained safe and on schedule for its anticipated completion. 

A collaboration between NCB Group and RAM Property Group, designed by John Doak Architecture, WAVES has already sold 90% of its residences, highlighting strong market demand. On schedule for completion in 2025, WAVES promises to redefine luxury living in Grand Cayman, offering resort-style amenities and panoramic ocean views. 

 “We are pleased to reach this crucial phase of construction,” said NCB Group Managing Director Matthew Wight. “WAVES represents another landmark in our commitment to sustainable development in the Cayman Islands, and we are thrilled to have completed the roof ahead of the hurricane.” 

Naul Bodden, President of NCB Group, emphasised the dedication of NCB Construction, stating, “We extend heartfelt thanks to our hardworking construction teams for their efforts in mitigating the impact of weather on this project and keeping it on schedule.” 

“This development is one of four residential projects currently underway for the group, with new phases for existing developments and an exciting new neighborhood set to be announced later this year,” Bodden added.

With limited inventory and high investor interest, now is the ideal time to explore ownership opportunities at WAVES. For more information or to secure one of the remaining units, please contact Tania Knapik, Senior Sales and Marketing Manager at NCB Group. 

Visit the WAVES website. 

April 2024 marked a significant milestone for the Cayman Islands as the government unveiled its latest National Energy Policy, which sets ambitious targets to transition the country to fully renewable energy solutions by 2045.

While these goals have been met with widespread celebration from NCB Group and other advocates of a healthier, more sustainably developed local environment, there is a pressing need for concrete legal frameworks to support their practical implementation.

Hear from Matthew Wight, Managing Director of NCB Group, and Steven Schiffbauer, NCB’s Renewable Energy and Sustainability Manager, as they explore both the merits of this forward-thinking policy and the challenges it may face.

Why are these goals important – and why have they come about now?

Steven: It’s imperative to set clear sustainability targets to work toward, particularly in an environment where land is finite and responsible development needs to remain a top priority.

Matthew: The drive for sustainable development and renewable energy is more pressing than ever. This initial policy follows Cayman’s recent climate report findings and supports NCB Group’s wider vision of a more responsibly developed environment for future generations.

Current roadblocks

To date, Cayman’s energy provider has maintained a dominant market position by controlling access to renewable energy.

Matthew: For homeowners, this has meant roadblocks in the planning and application process for individuals wanting to explore their renewable energy options. The current absence of frameworks to regulate this process leaves our energy provider to prioritise commercial interests, leaving homeowners with limited options for renewable energy.

Proposed change

The new National Energy Policy aims to ensure fair competition for sustainable energy contracts and grant consumers the ‘right’ to renewable energy solutions. It seeks to balance consumer interests in pricing, affordability, and quality of service, thereby curbing the market power of Cayman’s energy supplier.

Steven: To achieve these goals, the Cayman Islands’ energy infrastructure needs significant investment. With direct investment, this twenty-year plan has the potential to spur long-term economic growth by lowering costs for individuals and commercial entities, creating new job opportunities, and increasing lending channels.

It’s a significant step in the right direction that these issues are garnering more attention from our country’s leadership. However, the policy’s success hinges on introducing new legal frameworks, investment strategies, and regulation mechanisms in the coming months – Matthew Wight

Challenges ahead

Matthew: While the policy signals progress, achieving 100% renewable energy within the proposed timeframe faces technical, social, political, and financial hurdles.

Steven: With current technical and fiscal limitations, it is not viable for Cayman’s energy provider to pivot to 100% renewable energy within the proposed timeframe.

The Cayman Islands’ energy infrastructure would require substantial annual investment over the next twenty years to make this policy a long-term reality.

 In summary

Matthew: As a founding member of the National Energy Policy Committee in 2011, I am cautiously optimistic about the recent announcement. While the aspiration to achieve 100% emission reductions by 2045 is commendable and aligns with NCB Group’s mission for sustainable development, past barriers to policy implementation raise concerns – with previous targets still not met.

Enforcing minimum standards to shape Cayman’s sustainable development over the next twenty years will require a firm structure, sooner rather than later – Steven Schiffbauer

As a corporate community partner invested in sustainable development, NCB Group eagerly anticipates further guidelines from the Cayman Islands Government to realise the goals set out by the National Energy Policy and support their widespread adoption.

Photo by Remax

Demand for real estate remains at an all-time high in the Cayman Islands. But with the global impacts on material availability, prices and schedules, you might be cautious of pre-construction sales or new builds. The good news is that while developers, architects and construction operators still face some challenges impacting historical projects, overall, the situation is improving, with prices and lead times reducing.

We sat down with NCB Group experts Matthew Wight, Managing Director, Justin Matheson, Construction Operations Manager, and Barry Burgon, Logistics Coordinator, to get their insights on inflation, resource demand, and how to navigate the current landscape.

The global context

Over the past few years, average shipping costs have become increasingly volatile, leading to complications with budget forecasting. The coronavirus and the war in Ukraine have had a significant impact, causing supply chain woes and fluctuations in transportation rates.

Not only has the industry experienced shipping delays and rising prices, but its manufacturing lead times have also expanded due to heightened global demand. NCB Group leaders explain that appliances, for example, previously had a lead time of six weeks that has now extended to more than nine months.

“The world has seen the price of goods skyrocket and their availability diminish. In our island location where resources are finite, and import is essential, developers and contractors have relied heavily on Eastern Europe for quality, cost-effective materials,” Construction Operations Manager Justin Matheson explains.

Developers, construction firms, and architects are now building in more time to acquire project materials, having learned to manage these challenges more adeptly.

“NCB Group’s logistics and operations teams have paid great attention to the recent impacts on importation, subsequently improving procedures and refocusing our shipping programming. Another step to encourage better budget management has been building relationships with suppliers directly, bypassing distributors to keep costs down and account for market fluctuations,” Logistics Coordinator Barry Burgon says.

While the situation has vastly improved, last year’s price rises and material delays with limited or no notice have left local construction companies to deal with the compounding costs incurred by government agencies for labour, storage, and equipment fees.

“As a developer with fixed-priced contracts and an ethical framework, we bear the unexpected cost increases, although many other organisations do not. While we are mindful of the price fluctuations, unfortunately, we have little to no control over delays caused by supply chain issues,” Managing Director Matthew Wight shares.

What can you do?

We advise buyers and investors considering a pre-construction purchase or new build to research current market influences and prices to make an informed decision.

“While it’s something we at NCB Group managed to avoid throughout the recent global disruptions, some businesses have needed to implement contractual protective measures for their ongoing projects. Recently, our main concern has been that quote windows for materials have become shorter due to the pricing volatility, impacting project progress and budget forecasting from the early planning stages,” Matthew says.

It’s also prudent to choose your developer or contractor carefully. One benefit of working with the NCB Group is that the developer absorbs any price increases, providing peace of mind that your contract will remain unchanged no matter what happens in the market.

Learn more about one of our latest residential developments that recently broke ground.

Building works have commenced for 16 luxury oceanfront residences, brought to market by NCB Group and RAM Property Group, and designed by John Doak Architecture.

NCB Group President Naul Bodden and Managing Director Matthew Wight, joined by the group’s construction project leaders, recently broke ground for the cleared site.

Located along Cayman’s northwest coastline, between Cobalt Coast Resort and Ocean Pointe Villas, market demand has been proven for the boutique community, which has now reached 80% sold and is scheduled for completion in 2025.

The residences mark another milestone in NCB Group’s progress towards the long-term sustainable development of the Cayman Islands. WAVES is among NCB Group’s five active projects, including Kailani Grand Cayman, a Curio Collection by Hilton Hotel, which features eco-conscious, energy-efficient design elements integrated as standard.

In celebrating the start of construction, Naul described the resort-style residential project as another NCB Group community of distinction.

“After six weeks of site clearing works, we are delighted to mark the start of construction for WAVES,” Naul said. “This development is one of four residential projects currently underway for the group, with our exciting new North West Point neighbourhood, SunDance, recently announced.”

Following local and international buyer interest, inventory at WAVES is now limited, with only three three-bedroom, one-to-three-storey units still available for purchase.

“Cayman real estate is still proving to be a lucrative option for both savvy investors and first-time buyers, particularly when securing property pre-construction,” Naul remarked. “We’re seeing more owners than ever getting in at the ground level and making an average of 40% appreciation on their investment over two to three years.”

If you want to explore investment opportunities at WAVES, contact Tania Knapik to learn more.

Visit the WAVES website.

As the local construction and development sector continues to grow as the third pillar of Cayman’s economy, NCB Group remains committed to providing opportunities for Caymanian students to take purposeful steps towards rewarding careers.

2021 saw NCB Construction revamp its apprenticeship programme to provide students with two years of invaluable hands-on work experience. Guided by a team of industry experts, the entry-level participants develop their skillsets and gain real-world exposure to help them advance within the field.

Michael Slater, NCB Construction’s first student under the new programme, has operated as a Project Coordinator Apprentice within the OLEA Construction team since August 2021.

From the inspiration behind his career change to his biggest lessons learned, Michael reflects on his own experience within the programme and why Caymanians should be considering a career in construction.

What drew you to the Project Coordinator Apprenticeship?

A Project Coordinator is a diverse role, with wide-reaching responsibilities and requires attention to detail, communication skills and, most importantly, the ability to operate within a team to deliver the high level of quality for which NCB Construction is renowned.

I was approached by NCB and encouraged to make an application. After some time already spent considering a change in career, I knew I could offer the right personal, professional and technical qualities they were looking for in a candidate.

What was your background prior to the Apprenticeship Programme?

Ahead of my transition into the construction industry, I had been working within the tourism and hospitality sector which suffered greatly following Covid-19 and the closure of our borders.

During time spent exploring different avenues, it became clear that despite the knock on effects of the pandemic, construction and development continued as one of the fastest growing industries in Cayman. I knew it was important to make this decision with career longevity in mind.

What are your key takeaways from your first year as an NCB Construction apprentice?

Since the beginning of the apprenticeship, I’ve been posted within the OLEA team and assigned key responsibilities to help streamline the project’s operations. From billing to managing relationships with vendors and subcontractors, I’ve received more on-the-job exposure than I had ever expected in these early stages of my journey.

I am really enjoying working so closely with different teams and departments. The support is outstanding which has boosted my confidence; everyone is eager to assist and offer feedback which is helping me master the responsibilities of the Project Coordinator role.

On the job, and through my colleagues, I have learned that while it’s essential to plan and be organised, you must prepare to be flexible and adapt to the ever-changing environment within this fast-paced industry.

What is the most valuable lesson you’ve learned so far?

As much as our team tries to factor in every possible consideration and provide ourselves with strong contingency plans, not everything goes according to schedule.

Our work here in Cayman can be affected by so many different global and environmental factors – patience and perseverance come in handy!

What do you like about working for NCB Group?  

NCB Group puts a strong focus on investing in all their employees, not just those within the Apprenticeship Programme.

The leadership team consistently looks ahead to evolving industry trends and makes advances within the sector by investing in its people, tools, and technology. This is why NCB Group is a leader in Cayman’s development industry.

Why would you encourage other Caymanians to consider careers in the construction and development industry?  

The construction and development industry in Cayman continues to grow and brings with it various opportunities for Caymanians.

As there is such diversity in the range of roles within the industry, alongside world-class training programmes to get up to speed, career starters may be surprised by how easily they can find their place in construction in Cayman.

From experience, the industry is nothing short of rewarding, challenging and exciting. Learning in an industry like construction gives you the opportunity to be ‘hands on’ with the tangible growth of the place we call home. I’d encourage anyone interested in pursuing a career in this field to complete due diligence and make sure they align with an organisation, like NCB, that prioritises the sustainable development of the Cayman Islands.

Attracting the attention of a global audience, the Cayman Islands is a truly unique real estate product, combining an island lifestyle with the diverse needs of the modern property investor.

One of NCB Group’s latest residential development WAVES, a joint venture between the leading Cayman Islands developer and RAM Property Group, is already making waves in the real estate market, capturing the best of island living and creating a lucrative investment opportunity for overseas buyers.

NCB Group’s Sales and Marketing Manager, Tania Knapik, shares insight into the local market and what makes the Cayman Islands a great place to put down roots.

What sets the Cayman Islands’ real estate market apart from other jurisdictions in the Caribbean region and beyond?

Like much of the Caribbean, the Cayman Islands offers an enticing lifestyle with a year-round tropical climate, white sandy beaches, and crystal-clear waters that developments like WAVES have been designed to make the most of. The new luxury boutique community boasts panoramic views of the Caribbean Sea from all 16 of its residences, as well as open plan layouts with lots of natural light and private outdoor spaces overlooking one of the most picturesque shorelines of Grand Cayman.

What sets the Cayman Islands apart in the region—and the world—however, is its friendly and accommodating approach to foreign investment in real estate. Unlike many jurisdictions that are adding more red tape for non-resident property buyers, the Cayman Islands has a simple and streamlined purchasing process for international investors that also allows for residency through property ownership, meaning you can easily make WAVES your primary or second home.

Why are investors so attracted to the Cayman Islands real estate market?

Cayman’s tax-neutral status means, in addition to zero corporate, capital gains, income or inheritance tax, there is also no annual tax on property once you have paid the Cayman Islands Government’s one-time Stamp Duty fee of 7.5% on the market value of the property.

Many foreign owners also take advantage of Cayman’s residency through investment programme, which provides a comprehensive pathway to Permanent Residency or British Overseas Territory citizenship by way of investment in real estate starting from only CI$1 million.

Add in Cayman’s robust infrastructure, a stable government, and economy—thanks to thriving financial and tourism sectors—world-class healthcare and schooling, and easy access to the rest of the world with direct flights from major cities across the US, Canada and the UK, and Cayman makes for an incredibly attractive place to live or own property.

How has the Islands’ real estate market faired since the pandemic?

Cayman’s real estate market has continued to thrive as many international investors look for a safe harbour to place their roots. Even during the island-wide lockdown in 2021, real estate prices did not decline and the local market saw over $ 1.43 billion in sales that year.

In 2022, we are experiencing a record-low in available inventory and record-highs in new development, as the country tries to keep up with the supply and demand of a population that has grown at a rate of 2.4% over the last decade to more than 71,000 people, according to the 2021 Census released this summer.

With a mantra of “building with Cayman’s future in mind”, NCB continues to develop a diverse range of residential communities to meet the needs of our islands’ growing population, from oceanfront communities like WAVES, which embraces the laid-back lifestyle that Grand Cayman’s north-west point is renowned for, to family-friendly sub-divisions such as Auburn Bay and Sunrise Landing.

What makes Cayman a great place to own a home?

The ‘Cayman-kind’ spirit has attracted a melting pot of diverse cultures to the islands; people who are searching for the quintessential Caribbean lifestyle alongside modern conveniences, utilities and telecommunications.

WAVES has been designed to meet all the needs of the modern homeowner or renter, combining all the best parts of Cayman Islands living. The development boasts a resort-style pool, shady cabanas and its own private beach with diving and snorkelling sites located just offshore. Private patios and roof terraces are perfect for relaxing with a good book or entertaining al fresco, while the revered shopping and dining of Seven Mile Beach and lively waterfront town of Camana Bay are just a short drive away.

What is the rental market like? Are there opportunities to create income-producing property?

Globally, the demand for short-term rentals continues to grow, with the industry’s market value increasing by 22.76% from 2020 to 2021 as more travellers look for private spaces away from congested tourist areas and larger hotel resorts, and remote work becomes a more viable and prominent feature of modern working life.

It’s a relatively new sector in the local real estate market, but for investors looking to earn a solid return it is a lucrative option with an average ROI of 10%, which compares favourably with alternative investment strategies.

For those seeking the certainty of a regular income and the convenience of an annual rental contract, long-term rentals are also a sound investment especially as the islands’ population continues to grow.

WAVES has eight one-storey, three-bedroom condos and eight three-storey, three-bedroom plus den townhomes to choose from so that you can pick a floorplan that suits your investment objectives, while meeting all the needs of the modern tenant from high-end appliances, fixtures and finishings to en-suite bathrooms, walk-in closets and onsite fitness facilities.

Why are more people looking to purchase pre-construction residential properties?

The strength of the Cayman’s housing market continues to make pre-construction homes a popular choice for property buyers. For example, NCB developments typically see a 36% to 43% return on investment just a few short years after purchase, thanks in dual part to the demand for Cayman Islands real estate and the quality construction NCB has become known for.

Pre-construction developments are also very easy to manage from afar, as the developer takes on the entire project from build to completion, making them an attractive option for overseas buyers. And with property prices on the up and up there is huge potential for capital growth when you get in at the ground-level.

If you want to explore investment opportunities at WAVES, contact Tania Knapik to learn more.

Visit the WAVES website.