#Grand Cayman real estate listings
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Let’s Cruise From Miami, Florida
Introducing Miami
Miami is positioned on the mainland of Florida. Offshore, due east in the Atlantic ocean, there are a series of barrier islands. Furthest south of the islands is Key Biscayne. Next to the north is Virginia Key, followed by Fisher Island, and finally comes Miami Beach. The body of water in between the barrier islands and Miami is Biscayne Bay.
Miami started as a modest rural township. Next when a railroad was extended to the township, its warm temperatures and coastline setting were attractive to newcomers, so the settlement expanded rapidly.
At the beginning of the twentieth century resort companies looked to the Atlantic coastline of Miami Beach, and thus commenced the construction of the fashionable Art Deco buildings at South Beach. The storms of 1929 resulted in major devastation to the island, but was just a blip as new properties were built as rapidly as before.
The 1960s saw a big influx into the city of Cuban refugees, escaping the control of Fidel Castro. This meant the city inherited the atmosphere of a Latin America city, with lots of energy mixing with a laid-back lifestyle.
Miami has now grown into an important hub for industry, tourism, the arts and entertainment. The port is a huge undertaking and Miami is often described as the Cruise Capital of the World. Miami cruise port welcomes all the well-known cruise lines, with sailings to the sunny Caribbean or beyond.
Take a Tour of the city of Miami
South Beach (also known as SoBe)
This famous Art Deco designed oceanfront district has everything, fine restaurants, laid-back cafes, up-market boutiques, a long, wide beach, wonderful people-watching, beautiful historic buildings and hip shops. SoBe is about twenty minutes from the port by cab.
Coconut Grove
Coconut Grove, built in the late 19th century, is Miami’s oldest area. It's a place of eateries, trendy galleries, bars and fashionable shops. Tour Vizcaya Museum and Gardens, an early 20th century estate designed by a businessman with the aim of recreating a Renaissance like property.
Fairchild Tropical Garden
Botanical experts should head to the Fairchild Tropical Garden, here a group of man-made lakes wind through lush plants and trees.
Coral Gables
The Coral Gables area was founded in the 1920s, and has an assortment of cool bars, contemporary galleries, fashionable boutiques and classy restaurants. Bring swimsuit and make for Venetian Pool, the unique public pool hewn from a rock quarry.
Little Havana
For a taste of Cuban life today, visit Little Havana, the place where lots of Cubans settled after leaving their homeland. Walk down Calle Ocho, stop at a café for some real Cuban coffee, make a trip to the Cuban Museum and watch cigars being rolled at the El Credito Cigar factory.
Bill Baggs Cape Florida State Park
Bill Baggs Cape Florida Park is sited at the southern side of Key Biscayne island. It is the home of a historic lighthouse first constructed in 1825 and rebuilt in 1846. Spend some time at the State park to swim, surf, hike, picnic and sunbathe on a superb length of sandy Atlantic beach.
Bayside Marketplace
This large shopping mall is within easy walking distance of the cruise terminals. It's an open air mall, so can be very hot in summertime. There are lots of souvenir stalls, fashion stores, bars and restaurants.
Available Cruises
The range of cruises available feature the Eastern Caribbean (San Juan, Tortola, St Thomas and St Maarten), the Western Caribbean (Belize, Grand Cayman, Roatan and Cozumel), the Bahamas (Freeport and Nassau), or the Southern Caribbean (St Johns, St Kitts and Barbados). More extended cruises are occasionally on offer, like South America, the Amazon and trans Panama canal to the west coast of the USA. For a full listing see cruises from Miami.
Cruise Ship Terminals
The Port of Miami is located at Dodge Island, a piece of reclaimed land in Biscayne Bay formed by the merging of three islands, Lummus, Sam’s and Dodge. It's only five minutes from Miami center to the cruise port. Port Boulevard, which runs over Biscayne bay, links the city to Dodge island.
Ten cruise terminals operate at the cruise port. The AA/AAA, A, B/C, D, E, F and G terminals are located at the north coast of Dodge island, terminal V on the west, and terminal J on the south. The container ship berths are along the south coast of the island.
Cruise terminals AA/AAA and A, which began operations in 2022, are the most modern. These are designed to host mega ships. The total length of all cruise ship berths is some 2800 yards. Ten cruise ships can be docked at the same time. Each terminal has the basic amenities, like cafes, bars, check in, shopping and cab ranks.
For the port's website see Port of Miami.
Getting to the Cruise Terminals
By Road
Take I-95 north or south then leave the road to join the I-395 eastwards (follow the signs for ‘Port Miami via Tunnel’). Carry on over the MacArthur Causeway then into the tunnel. Follow the signs to the required cruise terminal.
By Air
Miami port is just seven miles from Miami International Airport. To travel from airport to cruise port, take a cab or jump on the shared-ride supershuttle bus.
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Does The Property Multiple Listing System In The Cayman Islands Offer Any Advantage?
The fact that CIREBA as an organisation has shaped the Real Estate Industry so significantly is testament to the advantages of what the property multiple listing system in the Cayman Islands can offer, whether it be to buyers, sellers, real estate agents or Cayman Real Estate Companies.
From a buyers or investors perspective when researching where to buy Property for sale in the Caribbean, you can only conclude that the Cayman Islands Real Estate industry is highly regarded. It offers an amazing varied portfolio of quality properties, actively encourages investment in the Island, is highly regulated by CIREBA and because of the many advantages offered by Multiple Listing System, buyers can have more confidence when conducting transaction in the Cayman Islands.
CIREBA has developed a system that allows property buyers to work with one real estate agent throughout the whole process. The product of this is a better experience for buyers. Property purchases are often the biggest investments people make in their lives and so having the opportunity to build a relationship and develop trust with your realtor can alleviate much of the stress and difficulties associated with buying a home.
The process begins with a seller listing their home with an agent. Once an agent receives a new listing it is added to the MLS (Multiple Listing System). This is then accessible by all CIREBA members.
Your preferred Cayman Real Estate Agent will have access to all CIREBA’S listing through the Cayman MLS and can research properties on all three of the Cayman Islands to show the listings that best match your requirements.
The environment that CIREBA has created is one where agents cooperate with each other whilst upholding the strict code of ethics laid out by CIREBA.
Advantages to buyers and sellers:
The MLS means that properties listed through one CIREBA member company are available to every CIREBA agent and company to show and sell.
All members work within CIREBAS strict rules and regulations and are bound by the CIREBA Code of Ethics.
Working with a CIREBA members results in faster, more efficient real estate transactions.
CIREBA has regulated procedures to professionally manage any incidents or complaints that may occur.
For sellers, listing your property with a CIREBA member means that all 34 broker members and over 168 agents will have access to information via the MLS
Advantages for CIREBA Members:
The members of CIREBA are currently responsible for around 74.5% of Grand Cayman Property Listings and sales volume on the Island.
CIREBA members have access to all CIREBA real estate agent’s listings through the MLS.
The system is easy and accessible for realtors to use.
Realtors can search and find the best property match for their clients from the large portfolio of listings.
The MLS means that realtors can be fast and efficient when conducting property searches.
When the real estate agent is different from the listing agent the commission fees are split equally between the two agents.
CIREBA has a structured commission guideline based on the value of the property.
There are many advantages to using a CIREBA’s Multiple Listing System so if you are looking for your next property then speak to a CIREBA member today about how they can help you.
For more details, visit: https://www.cireba.com/blog/does-the-property-multiple-listing-system-in-the-cayman-islands-offer-any-advantage
#Grand Cayman apartments#luxury homes for sale in Cayman Islands#buying property in Cayman#Cayman luxury property
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Looking for a commercial property to buy or lease in the Cayman Islands? Our experts will help you find the ideal office, retail, or land for a better presence. For more details, contact Milestone Properties Cayman today!
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#Buying property in Cayman Islands#Buying property in Grand Cayman#Buying real estate in Grand Cayman#Cayman Islands real estate listings#Grand Cayman real estate listings
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2010′s
2010’s Thinking about this last decade and there are so many amazing milestones, losses, triumphs, memories, successes and more. This decade provided the following memories 2010 - I dropped out of college, one semester short of graduation. My first job (Wendy’s) promoted me to a shift supervisor. I moved in with my boyfriend and his family. We went on my first cruise and my first international vacation. I swam with sharks and hand fed a scarlet macaw Jamaica, fed green turtles in Grand Cayman and petted Ernest Hemenway’s cats in Key West 2011 - I quit my job at Wendy’s and took the summer off to relax and revaluate my priorities. My parents moved out of the home I grew up in and moved to a one-bedroom apartment in the next city over. I took a weeklong vacation to Lincoln, New Hampshire. I went to the top of Mt. Washington and saw six moose on a moose tour. 2012 - Six weeks after getting a job at Catherine’s plus sizes as a supervisor, I was promoted to Assistant Manager. At the age of 24, I was the youngest manager in my district. (All of New England). I was also top in sales for the state of Massachusetts. I went to Niagara Falls and enjoyed every moment of it. I never got tired of seeing the waterfalls. 2013 - Quit my job as an Assistant Manager at Catherine’s when my boss was screaming at me in front of customers because I didn’t catch a small mistake made by another employee. I broke up with my boyfriend of seven years. Our relationship and our lives weren’t moving forward, and he didn’t see a problem with it. Therefore, I moved back in with my parents at 25. I traveled to NYC with my parents to celebrate their 30th anniversary. By the end of the year I was a Swing Manager at McDonald’s working 50 hrs a week. 2014 - Easter Sunday was my first Sunday off in six months. I was bored and downloaded Tinder. Within 10 minutes, I matched with Chris. We spent the next five days texting and on the phone with each other. On April 25th, I traveled five hours on two busses, 2 subways and a commuter rail to get from Lowell to Hartford to meet Chris at the bus station. We went on our first date to Mooyah in New Britain. Six months later, I quit my job at McDonald’s and moved to Connecticut and into our first apartment. I had lived in Massachusetts for 23 years and it’s the only state that I ever remember living in. 2015 - Chris and I traveled with his parents to New Hampshire and saw the Ice Castles. That March, we found out that I was pregnant. I was on the Depo Provera shot. When we went to the Planned Parenthood two days after we found out, the pregnancy was deemed high risk as my HCG levels were about 3 times what they should have been for six weeks along. We spent an entire night and day at St. Francis Hospital to be told by three OB/GYN’s that I had a “unviable pregnancy of unknown location”. A week later we went back to St. Francis for another ultrasound and they found the sac and a heartbeat. The Radiologist said that everything looked normal and my due date was 11/22/15. I refused to believe it, but after three weeks of terrible all-day sickness, the pregnancy was gone. I was 9 weeks, 3 days along. I couldn’t work for an entire week after that. Chris and I have never spoken about it again. After that, I revaluated what I wanted to do with my life. Just not sure what I wanted to do, just that I wanted something that I could help people and that wasn’t a dead end job. That June, Chris was laid off from his first job after graduating college. We had to move in with his parents. I threw myself into working as much as possible. My job at the time was at Panera Bread as an Associate Trainer. That August, I signed up for real estate classes at Manchester Comm. College in Manchester. It took me three months to complete the course, but I passed the final exam with flying colors and looked forward to leaving the restaurant industry behind. Chris and I spent Thanksgiving moving into a two-story townhouse in Ellington. 2016 - I passed my national and state real estate exams on my first try in January. I signed up with Keller Williams in East Longmeadow. My license was issued on February 16th. After a few months, I switched to Keller Williams in West Hartford. I interviewed with several teams. However none of them were the right fit for me. I was still working at Panera but was desperate to leave. That November, I saw a Facebook post on the Keller Williams West Hartford that the Blake Team was looking for a Transaction Coordinator. I responded with my resume immediately and Amina messaged me back within five minutes. Five interviews later, I landed the job and my start date was 1/2/17. After two years at Panera Bread, it felt incredible to put in my two weeks’ notice. 2017 – Started my first “real” job in January in Wallingford. I couldn’t have asked for a better team to learn from. Everything I know about real estate is from this team. While I enjoyed a job that kept me busy. (Our team was the #1 Individual team at Keller Williams in New England that year) I knew that I wanted to go back to school to finish my bachelor’s degree. That May, I applied to Central Connecticut State University and I was accepted. I started in August as a general business major as I didn’t really know what I wanted to major in. It was intimidating to sit in classes of 20-year-old students at nearly 30 years old. Especially after being out of school for nearly nine years. I would work 8 am – Noon, M-F as an ISA on the team and then go to CCSU from 1 PM – 10PM, Monday – Thursday. First semester didn’t go as great as I wanted to, but I kept going. After months of illness, my nana passed away on Nov. 25th. I had visited her two days prior on Thanksgiving, it was heartbreaking to see her like that. 2018 - I continued my education and kept working in real estate. I went back to handling the transactions for the team that August. I did not want to give that up as I’ve worked hard to get my license and to earn a spot-on Amina’s team. Due to financial reasons, I went back to Panera Bread as an Associate Trainer. So along with taking 15 credits at CCSU, working in real estate, I was working at Panera, my only day off was Saturdays. That May ended up declaring my major as Hospitality and Tourism with a minor in Business Administration. Professor Kreeger, who is the head of the department, was the first professor that I met that cared about my education. He took transfer credits that CCSU initially refused to take. Thus, allowing me to graduate a semester early. My grandfather passed away October 1st, he was my last surviving grandparent. 2019 – I started my last semester at CCSU in January and continued to go to school full time and work two jobs. I’m still not sure how I handled it, but I ended up graduating with a 3.6 GPA in my major and a 3.0 overall. That June, I quit Panera Bread again and took on real estate full time again. In September, Amina asked me if I was willing to take BOLD that year. At first, I was hesitant as I had preconceived notions that it was just cheerleading for agents and a scheme for KW to make more money. After seven weeks on the “Untouchables” team, I was hooked. The energy and momentum were more that I was expecting. I even got my first listing appointment while taking BOLD. I’ve already asked Amina if I can take it again in the Spring. As I look back on the past decade, I first saw failures, from relationships, education, jobs and myself. However, I never gave up, I kept going until I reached my goals. Am I where I thought I would be at 32? No, but I am working to get there. There isn’t a timeline for when things need to happen. I’m going at my own pace.
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#International Realty Group Ltd.#IRG Cayman#Grand Cayman real estate listings#Cayman Islands real estate listings#Cayman Property management#Cayman Islands Real Estate#Buying real estate in Grand Cayman#Buying property in Grand Cayman
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Due to its strong economy, stable political environment and offshore benefits, the Cayman Islands are a highly favoured location for businesses. So, if you are looking for an office space in Grand Cayman then, the best approach is to contact an agent at REM Services Ltd.
#cayman islands house rentals#grand cayman property rentals#cayman apartments for rent#relocating to cayman islands#relocating to grand cayman
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What can you benefit from staying at Grand Cayman vacation condos?
People who are on vacation, most often than not, end up staying at a motel or a hotel room. They find it convenient as they do not plan on anything ahead rather instead just move with the flow. However, they do this without knowing what Grand Cayman vacation condos offer.
If it is your first time planning a vacation to the Grand Cayman Islands, then you should know that the place mixed nature with wonder and arts with culture to give you the perfect tropical getaway. However, it would help if you also considered where you are going to stay. Here is more on what you can benefit from staying at Grand Cayman vacation condos.
Easy to book: - These days, you can easily book your vacation with the simple click of the mouse. It’s not hard to find vacation condos these days, and newer and newer websites are coming up offering vacation condos. You can easily find images of bedrooms, baths, kitchens, to name a few vacation rental. Then all you need to do is find one that is within your budget and make your reservations.
Get a better option than hotels and motels: - If you have ever had to stay at a hotel not because of your choice but because of the unfavorable circumstance, you will know that at times you can find small and cramped spaces. However, when it comes to vacation condos, you have a better option as you can go through the rental listing to find yourself something you need.
Get something cheaper to hotels and motels: - If you put hotels, motels, and vacation condos in comparison, the condos are going to stick out like a sore thumb. If you pre-book them in advance, you can get them cheaper than the rates you get them during the holiday season.
Get better privacy: - When you walk into a hotel or motel, that’s prime real estate area, you will find it filled with guests. Therefore, when you rent them for your holiday, you will find an overabundance of people in the pools, gym, or the sauna. However, the same doesn’t apply to vacation condos, as there are only a limited number of people that can stay at the property.
Now that you know about the benefits of staying at a Grand Cayman vacation condos, you will not want to think about cramped and dingy hotel rooms.
CaymanVacation.com holds over 28 years of experience arranging perfect Grand Cayman Island Luxury Vacations serving over 60k vacation rental guests. With CaymanVacation.com, you will receive friendly, trained and personalized boutique service, which leverages our in-depth knowledge of the Cayman Islands. Our hand selected properties are ideally located all over Grand Cayman. We know each property featured, helping you decide on the best option for your personalized Cayman Island Vacation.
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Our experienced staff is continually up to date on the latest Grand Cayman real estate listings, making it easier to match individual clients with a property that meets their needs. For Cayman islands houses for sale, visit: https://ashmorealexander.com/
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Looking for a commercial property to buy or lease in the Cayman Islands? Our experts will help you find the ideal office, retail, or land for a better presence. Call us at +1-345-938-9938 for more details.
#cayman islands real estate for sale#cayman islands real estate#cayman islands real estate listings#grand cayman real estate listings
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BOSTON–(BUSINESS WIRE)–Fireman Capital Partners (“FCP”), a consumer-focused private equity
firm, today announced that it has acquired a majority interest in Bandon
Holdings (“Bandon”), an Anytime Fitness (“Anytime”) franchisee. Terms of
the transaction were not disclosed. The purchase agreements were signed
on May 18, 2018 and the transaction closed simultaneously with the
signing.
Bandon Holdings is a strategic fitness platform and the largest
franchisee in the Anytime Fitness family with 38 clubs across Texas,
Oklahoma and Kansas. The franchise has expanded significantly through
new development and a proven acquisition strategy, with growth driven by
consumer demand for healthier lifestyles. Based in Austin, Texas, the
Bandon team, led by Co-Founders and Co-CEOs, Jeff Kiecke and Brian
Portner, is comprised of highly seasoned professionals with strong
relationships and fitness acumen. Mr. Kiecke and Mr. Portner bring deep
experience in the fitness industry, as well as operational, financial
and real estate expertise.
Anytime Fitness, founded in 2002 and headquartered in Woodbury,
Minnesota, is the fastest growing fitness club in the U.S. The company
follows a medium-cost, high-convenience pricing model and provides a
complete gym product offering, as well as convenient, 24-hour access for
its members. Anytime’s small box format with low build-out costs
provides real estate flexibility for broad geographic reach. The brand
serves its customer base with over 4,000 fitness centers in more than 30
countries and territories worldwide.
Dan Fireman, Managing Partner of FCP, said, “We are thrilled to partner
with the talented Bandon Holdings team, which has built a terrific
fitness platform with a robust pipeline for future growth. We look
forward to further scaling the business by continuing to pursue a
focused acquisition strategy and integration plan, as well as
implementing strategic operational enhancements and marketing
initiatives.”
Chris Akelman, Principal at FCP, said, “Bandon Holdings is poised for
continued success. We are delighted to be collaborating with Jeff, Brian
and their exceptional team to drive positive momentum for the business
and solidify Bandon’s position as a market leader in the high-growth
fitness space as part of the Anytime Fitness global network.”
Jeff Kiecke, Co-Founder and Co-CEO of Bandon Holdings, said, “Brian and
I – and the rest of the Bandon team – are excited to partner with
Fireman Capital Partners. FCP brings extensive fitness industry
experience, as well as a proven ability to help shape and grow
consumer-driven companies. With FCP’s guidance and resources, we will be
well-positioned to capitalize on the numerous growth opportunities ahead
and realizing our collective vision to create a next-generation fitness
platform.”
McDermott Will & Emery LLP acted as legal advisor to Fireman Capital
Partners. Brookwood Associates acted as financial advisor to Bandon
Holdings.
About Fireman Capital Partners (FCP)
Fireman Capital Partners invests in consumer-focused companies through
both growth equity and buyout transactions. The private equity firm
focuses on dynamic consumer businesses with revenues between 30M USD and
150M USD, who also have a unique vision, strong product and market
share, and sound management. FCP leverages its capital, extensive
network, and deep operating expertise to add substantial value. The firm
is currently invested in Dunn’s River Brands, CANarchy, Surfside
Holdings, and Idea Paint with realized investments in Hudson Jeans,
Pilla, Evolution Fresh, Serena & Lily, Newton Running and Skip Hop.
About Anytime Fitness
Ranked #1 on Entrepreneur’s prestigious Top Global Franchise list,
Anytime Fitness is the fastest-growing gym franchise in the world, with
more than 4,000 gyms serving nearly 3,300,000 members on five (soon to
be seven) continents. Open 24 hours a day, 365 days a year, Anytime
Fitness prides itself on providing its members with convenient fitness
options and friendly, personal service in well-maintained facilities
which feature top-quality exercise equipment. Gyms are now open in all
50 states, Canada, Mexico, Australia, New Zealand, England, Scotland,
The Republic of Ireland, Wales, Grand Cayman, Poland, the Netherlands,
Spain, Qatar, India, Chile, Japan, Singapore, Malaysia, Hong Kong,
China, Taiwan, Belgium, Italy, Sweden and the Philippines. All
franchised gyms are individually owned and operated. Join one gym and
use them all. For more information about Anytime Fitness and its
franchise opportunities, please visit www.anytimefitness.com.
If you enjoyed this post, you should read this: Vegan Guide
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No One Needs a Superyacht, but They Keep Selling Them
LONDON — The end of summer is a nervous time for superyacht designers, and not because they fear that the owners of their latest creations may be disappointed with the first outings in the Mediterranean.
The worry is about the designers’ next vessels, because this is the time of year when clients whose boats are still in production come back from holidays with a wish list of new features — usually, based on what they saw on their friends’ yachts or at the Monaco Yacht Show, which ended Sept. 28.
“Right now we are quite far down the line in completing a big yacht in northern Europe for one client who has just spent time on a friend’s boat, which is not necessarily helpful,” said Dickie Bannenberg, the head of one of the world’s best-known superyacht design houses, Bannenberg and Rowell. He was in his London studio, an airy two-story space lined with sleek models of its creations.
“The delivery date is in the first half of next year, and that is sooner than it might seem,” Mr. Bannenberg said. “It’s fine when it’s superficial — let’s say they liked the plates or towels on their friend’s yacht — but if you’re not careful it can verge on, ‘Oh, my friend’s gym was like this, can we have something similar?’ or, ‘I would really like to add a submersible vessel.’”
The complex production schedules of these vessels mean shipyards will resist significant changes. “Re-engineering or rebuilding is going to cost a lot of money,” Mr. Bannenberg, 58, said.
Protecting the Picassos
That end-of-summer tension illustrates some inescapable truths about life dealing in the world’s most expensive consumer products and ultimate discretionary purchases. One vessel alone can cost $5 million to $500 million, with annual operating costs of perhaps 10 percent of that.
This is an industry in which problems include protecting the owner’s Picasso collection from salt air, clumsy crew members and faulty sprinklers.
Or maybe you have to decide whether to build one 330-foot vessel (100 meters) or join a trend of the last few years by opting for a “smaller” 200-foot yacht with a 165-foot support vessel to carry a submarine, helicopter, speedboats and other toys. Aviva, a 320-foot yacht launched in 2017, was the first in the world to include a full-size indoor paddle tennis court.
William Mathieson, the editorial and intelligence director of the Superyacht Group, the leading analyst of the industry, said there are about 3,500 active vessels in the world that meet the loose definition of a superyacht by measuring more than 100 feet; just 55 top 330 feet.
Mr. Bannenberg’s father, Jon Bannenberg, who died in 2002, used to say that nobody in the world needs a superyacht, so it was the designer’s task to make them want one.
Jon, a charismatic Australian, is widely credited with inventing the profession of superyacht designer. In the 1960s, he brought together interior and exterior design skills with an understanding of marine engineering to replace what had previously been relatively simple structures sitting on top of hulls designed by naval architects.
He had waves of clients, starting with Greek shipping tycoons in the 1960s. Then came Middle Eastern royals in the 1970s, German and American industrialists in the 1980s, tech titans from the United States in the 1990s and wealthy Russians.
After Jon’s death, Dickie, who had worked as his father’s project manager for 15 years, brought in Simon Rowell, a hotel designer, as the studio’s creative director.
A short walk from Wandsworth Bridge on the River Thames, the studio holds 15 people, who manipulate detailed computer images of planned vessels, pore over design drawings and phone Italy to order marble fittings.
There are usually six or seven projects at various stages of a construction process that takes four to five years, and that often extends to designing stationery and a logo for crew uniforms, as well as commissioning sculptures to go on board. Jon Bannenberg liked to design the cutlery and crockery, flower vases, the light fittings and door handles.
He ran his practice like a Renaissance artist, training a stream of apprentices who now run some of the world’s top studios, and relying on wealthy patrons for commissions.
Those patrons included J. Paul Getty, Malcolm Forbes and Larry Ellison. Projects were discussed with Fidel Castro and the Shah of Iran that never made it to the water.
Almost inevitably, many people rich enough to spend tens or hundreds of millions of dollars on a yacht have proved to be controversial. The Australian billionaire Alan Bond was a Bannenberg customer before being jailed for fraud, and so was the Saudi arms dealer Adnan Khashoggi, who commissioned a 280-foot ship called Nabila. Donald Trump bought that one (and renamed it Trump Princess) in 1987 for a reported $30 million, with a running cost of $2.5 million a year, justifying the expenditure by saying it was “the ultimate toy” and that he hoped it would make other yacht owners feel inferior.
A string of Bannenberg yachts were built for the British businessman Gerald Ronson, who also did jail time for fraud, and the American magnate Bennett LeBow was forced to repay millions of dollars to companies he controlled for loans that were spent on his yachts.
The body of Robert Maxwell, the publisher and fraudster, was found floating off the back of his Bannenberg yacht, the Lady Ghislaine, which was named after his daughter who is now in the headlines over her involvement with Jeffrey Epstein, the financier charged with child sex trafficking.
Mr. Epstein, who died in jail in August, represented the retail tycoon Leslie Wexner during the construction of his 300-foot yacht Limitless, another Jon Bannenberg project.
Five imposing models of Limitless still sit on the walls of the studio. Dickie Bannenberg said he never dealt with Mr. Epstein, though Ms. Maxwell “may have come to a design meeting but I have never met her.”
“It’s a tricky one,” Mr. Bannenberg said. “Legally in any industry you have a requirement to know as best you can the source of your client’s money, so in our contracts our lawyers require us to find the beneficial owner behind the project.”
“The shipyard asks the same questions,” he said. “They won’t just build for Mysterious Corporation of Grand Cayman, they need to know who is behind it.” The ownership of some yachts is a tight secret, with the owner’s passion for privacy and security often extending to teams of private guards in every port.
Adam Ramlugon, a lawyer who specializes in superyachts, said the legal obligations to avoid “dirty money” fall on regulated professions rather than on designers and builders themselves.
“It is the designer’s bank and lawyers who are required to know the source of funds, but any company should be very careful because their bank might decide to stop acting for them if they don’t know the source of some money sloshing around in their bank account,” Mr. Ramlugon said.
Mr. Bannenberg said that “in real life, there is a limit to what we can do.”
He recalled being hired by a Moscow shipyard to do design work for a client whom he and Mr. Rowell met “once or twice including one memorably uncomfortable meeting” in a Majorca villa.
One sign that something was odd was that the meeting was held in what felt like a “safe room.” Mr. Bannenberg said that “a much bigger sign came three years later.”
“After the yacht had been delivered, Simon was a bit terrified to notice a newspaper photo of the client being led away in handcuffs by two Spanish police officers wearing balaclavas. He was allegedly the head of an organized crime gang. How could we know that?”
Mr. Rowell, 50, said that “once or twice” the firm has made its own inquiries and decided to stay away from a potential client, but a lot of these problems, especially white-collar crime, “only become obvious with hindsight.”
Doing More With More
The types of buyers and their demands keep changing. More than a decade of heavy spending by Russian and East European clients began drying up after the Russian annexation of Crimea — “we lost one job half an hour after that,” Mr. Bannenberg said — as Western sanctions on Russian oligarchs have continued to bite.
The rising number of billionaires in mainland China has not yet translated into new buyers, and Mr. Bannenberg believes the Chinese face political and cultural restraints “on being so upfront with your wealth.”
More promisingly, there has recently been a pickup in buying from the United States, Mr. Bannenberg said, “because America still has the most high-net-worth individuals.”
The Trump tax cuts have fueled demand for superyachts, according to industry analysts, and shipyard order books are solid. Notably, this is despite recent softness in top-end sales of art, cars and real estate, amid broader fears of an economic slowdown.
Research by the Superyacht Group shows that after peaking in 2008 and then slumping after the financial crisis, the production of luxury yachts has been stable in recent years, with an annual output close to 150 new vessels.
While Americans remain the biggest buyers, the United States’ own yacht output has shrunk, with the global industry consolidating into fewer shipyards. The Italians now make the most vessels, and Dutch and German builders dominate the top of the market.
The most striking change in the industry is a shift in what the boats are actually for, as a new generation of owners want to do more than show off while anchored off Sardinia.
“The clients that approach us nowadays don’t really want a floating palace,” Mr. Rowell said. “They want a boat they are going to live on and even work on, and use for more than two weeks a year.”
The Microsoft billionaire Paul Allen, who died in 2018, is often cited as an example of a more active owner, as he used his yachts for ocean research and roaming the world.
A 600-foot-long monster called REV that emerged from a Romanian shipyard in August took that trend even further: Its Norwegian owner had it designed to double as a marine research vessel capable of supporting 60 scientists. The world’s largest yacht, REV (short for Research Expedition Vessel) can sail around the world without refueling.
“Owners today do realize that these are extraordinary bits of equipment that can go to pretty exciting places that are really difficult to reach, and that changes the way you design the yacht,” Mr. Rowell said. Modern owners sail everywhere from the Northwest Passage to Antarctica.
There is “still a minority of attention seekers, status seekers, whatever you want to call them, who really are happy sitting off St.-Tropez and Cala di Volpe and the Amalfi Coast,” Mr. Bannenberg noted.
There is a movement, he said, “towards a much greater sense of connection between the yacht and the immediate sea, by which I mean swim platforms, ‘beach clubs,’ folding terraces and hull doors that open up to the sea.”
A growing sense of environmental issues is also having an impact, Mr. Bannenberg said. “There are a few yacht-based movements and marine foundations, which are sometimes labeled as a yacht-owner’s guilt trip, that are part of the whole environmental conversation going on at the moment,” he added.
“It all adds up to a much bigger desire to actually interact with the ocean rather than sitting in a glitzy apartment that happens to be floating.”
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World’s Most Expensive Home? Another Bauble for a Saudi Prince
By Nicholas Kulish and Michael Forsythe, NY Times, Dec. 16, 2017
LOUVECIENNES, France--When the Chateau Louis XIV sold for over $300 million two years ago, Fortune magazine called it “the world’s most expensive home,” and Town & Country swooned over its gold-leafed fountain, marble statues and hedged labyrinth set in a 57-acre landscaped park. But for all the lavish details, one fact was missing: the identity of the buyer.
Now, it turns out that the paper trail leads to Crown Prince Mohammed bin Salman, heir to the Saudi throne and the driving force behind a series of bold policies transforming Saudi Arabia and shaking up the Middle East.
The 2015 purchase appears to be one of several extravagant acquisitions--including a $500 million yacht and a $450 million Leonardo da Vinci painting--by a prince who is leading a sweeping crackdown on corruption and self-enrichment by the Saudi elite and preaching fiscal austerity at home.
“He has tried to build an image of himself, with a fair amount of success, that he is different, that he’s a reformer, at least a social reformer, and that he’s not corrupt,” said Bruce O. Riedel, a former C.I.A. analyst and author. “And this is a severe blow to that image.”
The story of Chateau Louis XIV, as pieced together through interviews and documents by The New York Times, unfolds like a financial whodunit, featuring a lawyer in the Grand Duchy of Luxembourg and a fixer for the very rich from the Mediterranean nation of Malta. Even Kim Kardashian made a cameo at the chateau, reportedly considering it for her wedding to Kanye West.
The ownership of the chateau, in Louveciennes, France, near Versailles, is carefully shrouded by shell companies in France and Luxembourg. Those companies are owned by Eight Investment Company, a Saudi firm managed by the head of Crown Prince Mohammed’s personal foundation. Advisers to members of the royal family say the chateau ultimately belongs to the crown prince.
Eight Investment was the same company that backed Prince Mohammed’s impulse buy of the 440-foot yacht from a Russian vodka tycoon in 2015. The company also recently bought an 620-acre estate in Condé-sur-Vesgre, known as Le Rouvray, an hour’s drive from Paris. The chateau’s architect is refurbishing the manor house there and building structures for an apparent hunting compound, according to permit records at the local town hall.
The chateau’s developer, Emad Khashoggi, nephew of the late billionaire arms dealer Adnan Khashoggi, bulldozed a 19th-century castle in Louveciennes to make way for the new chateau in 2009. To the naked eye it appears to have been built in the time of Versailles, the royal palace that set a world standard for gaudy luxury. But the 17th-century design camouflages 21st-century technology. The fountains, sound system, lights and whisper-silent air conditioning can all be controlled remotely by iPhone.
Along with more standard flourishes for top-of-the-line properties, like a wine cellar and movie theater, the rotunda features an exquisite fresco on the ceiling while the moat includes a transparent underwater chamber with sturgeon and koi swimming overhead. A statue of Louis XIV made of Carrara marble stands watch over the grounds.
“The idea is tacky, and then once you visit it isn’t,” said Marianne Merlino, who was the town’s deputy mayor during construction. “Like in Versailles, that was way over the top too, and like Louis XIV, he achieved something really quite incredible.”
In less than three years in the public eye, Crown Prince Mohammed, 32, has forged a reputation as an assertive--some critics say reckless--leader. He launched an air campaign in Yemen and spearheaded the blockade of Qatar. Yet he also appears to have won the popular support of many young Saudis for reining in the country’s religious police, promising to give women the right to drive and announcing that movie theaters will be allowed to open again.
But his swift rise has ruffled some of his elders, especially when he shoved aside his older cousin to become crown prince. He has come under even more scrutiny since the arrests last month of nearly a dozen of his royal cousins and hundreds of other businessmen or officials, who have been detained at the Ritz-Carlton in Riyadh, now the world’s most luxurious jail. The government characterized the arrests as a crackdown on corruption but critics have called it a political purge and a shakedown.
Crown Prince Mohammed, in an interview with The New York Times columnist Thomas L. Friedman, said he expected the state to recoup some $100 billion in settlements from the detained elite. But he dismissed as “ludicrous” accusations that the arrests were politically motivated, saying that was the only way to root out corruption and self-dealing.
Neither he nor the Saudi government responded to requests for comment for this article.
Even before the crackdown, unbridled spending by the king’s family, whose income sources remain opaque, had raised eyebrows. With the price of oil, the main source of the country’s wealth, having plummeted from record highs in the past decade, the government has tried to close yawning budget deficits with financial discipline.
But last year, even as the government canceled a quarter of a trillion dollars’ worth of projects to rein in deficits, King Salman was building a luxurious new vacation palace on the Moroccan coast.
The year before, shortly after he was named deputy crown prince, Prince Mohammed was vacationing in the south of France when he fancied a magnificent yacht with two swimming pools and a helicopter.
A trove of records leaked from a Bermuda law firm, known as the Paradise Papers, reveal how platoons of lawyers, bankers and accountants in Germany, Bermuda and the Isle of Man worked furiously to quickly transfer ownership to Eight Investment. The price, according to drafts of the contract, was 420 million euros, or $494 million in today’s dollars--even more than that for the chateau.
A leaked document from a Bermudan law firm shows that Eight Investment is owned by members of the Saudi royal family.
Emails between the lawyers said the yacht would be owned by a Cayman Islands company called Pegasus VIII, which was created in 2014 when Prince Mohammed was reported to have bought another yacht, renamed the Pegasus VIII. That yacht cost about $60 million, according to the seller, Ronald Tutor, a California investor.
Last month, Leonardo da Vinci’s painting “Salvator Mundi” sold for $450.3 million to an anonymous buyer, the highest price for any work of art sold at auction. The buyer, The Times found, turned out to be an obscure Saudi prince with close ties to Crown Prince Mohammed. People familiar with the sale and American intelligence officials said he was acting on behalf of the crown prince.
The Saudi government later disputed that report, saying variously that the Saudi buyer acted as an agent for Abu Dhabi, in the United Arab Emirates, where the painting will hang at the new branch of the Louvre, or that the crown prince had purchased the painting to give to Abu Dhabi. People familiar with the details insist the crown prince was the real buyer at the time of the sale.
While the spending habits of Saudi princes have been chronicled for decades, the Paradise Papers as well as the Panama Papers, both released by the International Consortium of Investigative Journalists, provide new details. Crown Prince Mohammed’s wealth, vast as it is, represents only a portion of the riches accumulated by King Salman’s branch of the House of Saud.
In addition to two stately homes in London connected to King Salman, his son, Prince Turki bin Salman, is listed as the guarantor of an Isle of Man company that sold a penthouse apartment a short walk from Westminster Abbey for over $35 million in 2014. Prince Sultan bin Salman, a half brother of the crown prince and the first Arab in outer space, purchased a luxury Boeing jet that typically costs more than $100 million through an offshore shell company.
King Salman’s vast compound on Spain’s southern coast is owned by two Panamanian companies, which are in turn controlled by a Luxembourg company belonging to the king and his children. Another holding company, based in the tiny principality of Liechtenstein, owns the king’s villa on the French Riviera, where the actress Rita Hayworth celebrated her marriage in 1949.
The two new French properties, Chateau Louis XIV and Le Rouvray, are owned by two French companies. Those companies are owned by a Luxembourg company, Prestigestate SARL, which is in turn owned by Eight Investment. Thamer Nassief, who lists his occupation on LinkedIn as “President of Crown Prince Private Affairs,” is a manager of both Prestigestate and Eight Investment.
Eight Investment, according to documents from the Bermudan law firm Appleby, is “owned by members of the Saudi Royal Family,” and its “wealth is derived from the King and the state.”
The three listed shareholders are Bader Al Asaker, who heads the crown prince’s personal foundation; Hazim Mustafa Zagzoog, the head of private affairs for King Salman; and Bader Ali al-Kohail, the Saudi ambassador to the Maldives, the Indian Ocean archipelago where the crown prince hosted a series of lavish parties featuring the rapper Pitbull and the South Korean singer Psy.
Chateau Louis XIV is one of several castles in Louveciennes, including one that belonged to Madame du Barry, the chief mistress of Louis XV. The town was later popular with Impressionist painters and is now an affluent suburb of Paris.
Town officials who worked with Mr. Khashoggi on the project described it as a near obsession. “Khashoggi said it was the dream of his life to make a thing like that,” said Ms. Merlino, the former deputy mayor. “He wanted to do the best in every field and he did.” Mr. Khashoggi declined through a spokeswoman to comment.
Some of the most lavish work, including the gilding, was performed by Atelier Mériguet-Carrère, which restored the Élysée Palace and the Palais Garnier opera house in Paris. The head of the company, Antoine Courtois, said he could not comment on the work because he had signed a nondisclosure agreement.
Hans Cauchi, a Maltese hospitality executive who caters to the superwealthy, applied for building permits to reconstruct the stables, a ruin on the edge of the estate, into a villa with a man-made pond, and to construct a new guardhouse modeled on a rustic property built for Marie Antoinette at Versailles.
Véronique Skrotzky, who used to forage for mushrooms when the run-down old chateau stood in its place, lamented that the owner never seemed to stay there, and that the property and grounds were closed to the public.
“Before it was a ruin only for ghosts,” she said. “Now it is brand new for ghosts.”
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Explore the world of real estate in the Cayman Islands
Are you looking for a place like home minus the commotion? There is only one place on Earth that can give you all these — The Cayman Islands. Whether you like the city’s liveliness or the tranquility of island living, there is something for everyone.
The properties on the islands are as diverse as their neighborhoods. Every locality has its charm. There are plenty of houses for sale in the Cayman Islands, but you have to be quick and proactive because countless people are eyeing them. The slightest delay might lead to an opportunity slipping away. It is because the demand for properties far exceeds the supply.
Top Reasons to invest in the Cayman Islands’ Residential Properties.
Standardized laws across the country — The laws in the Cayman Islands are uniform all over. A law in Grand Cayman would be the same in Cayman Brac or Little Cayman.
Zero restrictions on foreign ownership — There are no restrictions on foreign ownership (for personal use). It is possible for two or more people to own a particular property. A corporation could own it too. If you own a piece of land, there is no compulsion to develop it. The government of the Cayman Islands also guarantees the right of ownership.
Organized system — The real estate sector in the Cayman Islands is highly organized. Every property out there is assigned a unique block and parcel number. Prospective buyers can look at all the records and previous transactions, restrictions on the property, etc., to ensure that they make the right decision.
Tax neutrality — If you have purchased a property for investment, no taxes apply. There are no taxes like — income tax, property tax, inheritance tax or capital gains taxes, etc.
Easy access — The Cayman Islands are close to North America. Since there are so many American and Canadian expats living in the Cayman Islands, the government has increased the number of flights and their frequency.
Permanent residency — The standard of living in the Cayman is relatively high. The country relies on tourism, offshore banking, and company incorporation to earn its revenue. Such opportunities attract people from all over the world. Foreigners who purchase real estate worth CI$1 million are eligible for citizenship, but out of that amount, at least CI$500,000 should be used towards developing real estate.
Political and economic stability — The Cayman Islands is a representative parliamentary democracy, and it has experienced zero political upheavals in the past 60 years. The value of the Caymanian dollar enjoys a higher exchange rate than that of the American dollar. This tells us a lot about the economic situation of the country. The island has plenty of excellent hospitals, supermarkets, grocery stores, schools, and everything to lead a comfortable life.
Friendly people — The Caymanians are warm and friendly. Thanks to a helpful, responsive, and proactive police department, the crime rate is also relatively low.
Variety of properties — You would be amazed by the sheer variety of properties that the Cayman Islands offers. There are plenty of houses for sale in the Cayman Islands, from high-end luxury villas, apartments, condominiums, penthouses to affordable housing. Areas like the Seven Mile Beach are on the higher end, while South Sound, Red Bay neighborhoods are best for people who desire affordable housing.
Ease of transfer — Real estate transactions in the Cayman Islands is convenient and straightforward. When both parties arrive at a decision, they sign a contract, which becomes legally binding. Each property is listed on CIREBA, the regulatory body for real estate transactions in the Cayman Islands. It ensures the legitimacy of all dealings.
Guaranteed title — The government of the Cayman Islands maintains details of land; hence insurance is irrelevant. A single land registry has the required information, and it’s open to the public. Potential buyers can access this resource and get all the requisite data related to the liens’ ownership history and records.
Great ROI — Owing to its scenic beauty, work opportunities, offshore banking, and financial services, and tourism, the Cayman Islands’ real estate industry has grown by leaps and bounds. The year 2019 witnessed a 9% increase in market transfers as compared to 2018. The total value of transfers saw a rise of 17.8%.
Privacy — The Cayman Islands is one of the most popular jurisdictions for offshore financial services, company incorporation, asset protection, etc. These banks and financial institutions hold over 1.7 trillion dollars in assets. It makes up approximately 6% of the world’s banking total banking assets. In the last 12 years, the Cayman Islands’ financial services and the banking industry have witnessed a drastic change because of the anti-money laundering legislation.
The laws protect the privacy of the property owners, though. Properties can be held in corporations and trusts, no restrictions for foreign ownership either. Ignorance and the spread of misinformation have led to the myth of the Cayman Islands being a hub for money laundering and tax evasion. The robust legal framework, strict code of ethics, transparency, and equal opportunity for all will enable organizations to build a successful business empire.
Vibrant market — The rapid growth in the Cayman Islands’ financial services and tourism industry has drawn thousands of people from various countries. It has sparked the need for the development of new real estate projects across the Islands.
Conclusion
Regardless of whether you want to purchase property for investment or as a second home in the Cayman Islands, decide based on your budget, requirements, and how long you intend to live on the Islands. Only borrow as much as you can repay. Remember to consult an attorney before signing a deal and only buy properties listed on CIREBA.
The real estate market is experiencing a lull phase right now because of the pandemic. Buyers are hesitant to enter the market, and sellers are playing the waiting game. However, this is not Cayman specific; it’s happening all over the world. All of this is just a temporary phase, and it will pass.
Original Source: https://medium.com/@CaymanGuide/explore-the-world-of-real-estate-in-the-cayman-islands-93d87e2de7ac
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All the suppliers of relocation services in the Cayman Islands are listed here. Whether you’d like to:
Find out about the costs of living in Cayman
Make initial enquiries about real estate prices
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