OLEA's first residents moving in

Next month marks a significant moment in Camana Bay's history as homeowners at OLEA, the town's first for-sale residential community, move into their new homes.

The milestone fulfils an important part of Dart's vision to create a place where people want to live, work and play.

"This is a momentous occasion," said Dart President Real Estate Asset Management Justin Howe. “Residential home ownership has been part of the Camana Bay master plan since day one and it feels extremely meaningful to be able to welcome OLEA’s first residents.”

OLEA’s first two phases — which includes 56 one-, two- and three-bedroom condominiums, seven townhomes and 10 waterfront duplexes — are nearly sold out, indicating a strong demand for homes in Camana Bay. It’s also an indication of the resiliency of the real estate market in the Cayman Islands, which has strengthened in the past year despite the ongoing COVID-19 pandemic.

Katya Bennett, an OLEA homeowner and current Camana Bay resident, was looking for a child- and pet-friendly place in a central location near the beach with access to shopping. She said that OLEA's proximity to the Camana Bay Town Centre was one of the reasons she and her family decided to buy.

“As we learned more, we realised that it is a superb development with great amenities that we as a family will enjoy.”

OLEA’s amenities include a community herb garden, fully equipped gym, outdoor yoga pavilion and a resort-style swimming pool featuring the first lazy river in the Cayman Islands.

High-quality finishes, such as quartz countertops and custom millwork cabinetry, and furniture packages curated by Design Studio and Interior Design Group, add to the development's appeal.

OLEA also offers sustainable living and was the winner of the 2019-2020 International Property Award for Best Sustainable Residential Development in the Americas. When completed, OLEA will comprise 132 homes designed by Cayman-based TRIO Architects and will feature Grand Cayman's largest solar array to date.

OLEA’s developers — Dart Real Estate and NCB Group — are on track to complete all phases by early 2023.

Located south of the Town Centre and adjacent to Cayman International School, OLEA is offering an exemption on stamp duty for all homes purchased before 30 June 2021.

This article originally appeared in the May 2021 print edition of Camana Bay Times.

About the author

Andrea Lumsden has worked with Dart since 2013 and has been writing professionally since 2003. Graduating from university with a BA in Communication, Andrea has worked with clients across a range of industries, including financial services, hospitality and real estate. Raised in the Cayman Islands, she’s a bookworm at heart who enjoys cooking and travelling with her husband and three children.