NCB says locals shopping for into GT boutique lodge

NCB says locals buying into GT boutique hotel

Artist’s rendition of Kailani Grand Cayman (from promotional material)

(CNS): NCB, the developers of a new hotel under construction on North Church Street, says that half of the residencies have already been sold and that three-quarters of them were purchased by local residents rather than offshore buyers. While many realtors in the Cayman Islands market depend on overseas investors to snap up their high-end inventory, representatives for NCB have implied this project is set to be largely owned by people here in Cayman.

Kailani Grand Cayman will be the first new hotel in Cayman since the Kimpton. Construction began in April 2019 after the developers secured planning permission to increase the height of the hotel from six to seven storeys. It was originally due to be finished last year, but after the pandemic caused significant delays, it is now two years behind schedule and not expected to open until September next year.

However, NCB said that a model room has now…