Lacovia – Demolition Commences
Prices will increase substantially during construction – limited time left for these current prices.
Marking a major milestone for this first-of-its-kind real estate redevelopment project on Grand Cayman’s Seven Mile Beach, the demolition of Lacovia began on Friday, February 16th, just a week after the conclusion of a deal for the financing of the $330 million project. IP Driver Ltd., a local subsidiary of JV Driver Limited, has been entrusted as the contractor for the development.
Own a residence in Cayman’s most iconic building.
Everyone traveling to the Cayman Islands will know of the Lacovia buildings because of their distinctive architectural design and the presence they will have on Seven Mile Beach. There isn’t anything like them and these buildings will become a symbol for Cayman. Any marketing and promotion will include a picture of the iconic Lacovia buildings with their huge beach - similar to a how Burj Al Arab has become a symbol for Dubai.
When you own a residence at Lacovia, everyone will know of your building and its stature. That level of prominence and the high quality of Lacovia will create a strong demand for ownership, so any resales will sell quickly. Tourists will be well aware of Lacovia and its prestige, while being drawn to it for rental accommodations, ensuring strong steady income for those owners who want it. The renderings show just how impactful this property will be.
Lacovia’s location could not be any better. It is in the heart of Seven Mile Beach. There is a multitude of restaurants and bars, retail shops, entertainment, modern grocery store, and especially Camana Bay with all that it has to offer, within a few minute’s easy walk.
The beachfront here is the best anywhere in Cayman and likely the whole Caribbean. From this location, you can walk along the beach at the water’s edge for miles. It is a perfect soft coral sand that is not hot on your feet and flows as far into the Caribbean Sea as you can walk. Further out in the Sea are some coral heads teaming with small colourful marine life for you to enjoy while you snorkel. Where else can you find a flawless beach like this?
Development on Seven Mile Beach is quickly slowing down. New beachfront sites are extremely difficult to obtain and that will continue to be a challenge.
Lacovia represents one of the last opportunities for a long time to acquire a new residence in a spectacular building and in the best location on Seven Mile Beach. By purchasing now, you get in early and have a few years of strong capital appreciation while you slowly pay for your new vacation home.
There just isn’t a better property for consistent capital appreciation and rental income. You will be proud to own a vacation residence and have a great investment in a property that will soon be renowned in the Cayman Islands.