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Cayman Island's $700 Million Camana Bay Mixed-Use Project Gaining Traction Amongst Hedge Fund Crowd - See more at: http://www.worldpropertychannel.com/latin-america-commercial-news/camana-bay-ken-dart-dart-realty-cayman-hedge-funds-seven-mile-beach-cayman-island-hedge-fund-industry-changes-mitt-romney-michael-joseph-jackie-doak-6536.php#sthash.4fVeyeUP.dpuf

(Grand Cayman Island) -- Despite receiving a negative label in the recent US presidential race as a 'safe haven for tax dodging rich politicians' (as some tried to paint Mitt Romney in 2012); the Cayman Island's hedge fund eco-system is thriving today.

The Cayman Island's financial industry is actually a legitimate, transparent and legal tax haven for wealthy individuals worldwide to execute more efficient tax strategies for their money.  Gone are the days of drug lords and dictators laundering their suitcases full of cash from over three decades ago.

Today the Cayman Island's banking and financial industry is one of the most regulated and scrutinized financial markets in the world. It is far harder to get Government approval to open a bank account in the Caymans than in any US bank due to the extensive background checks the Government performs.

Since 2000, there has been enormous growth in the Hedge Fund governance industry. Separate from the estimated 9,500 registered hedge funds in the Cayman Islands today, there is also a highly experienced hedge fund industry support infrastructure (law firms, CPAs, tax advisers, bankers, recruiters and administrators) in place.

The island enjoys having many top tier law firms to help fund managers set up and structure their funds; top audit firms and experienced fund administrators on the ground make it easy to set up funds here. Speed to market coupled with its mature support services industry gives the Cayman Islands a competitive advantage over other fund domiciles worldwide.

With their growing Hedge Fund and support services industries, one long-time local developer, Ken Dart, founder of Dart Realty, has been quietly building and successfully leasing a $700 million mixed-use project on Grand Cayman island over the last 5 years called Camana Bay.

Camana Bay is a vibrant new town center located in the heart of Grand Cayman Island. The mixed-use project stretches over 500 acres from the famous Seven Mile Beach to the tranquil North Sound; this master planned community opened in December 2007 and is one of the first examples of New Urbanism in the Caribbean.

Camana Bay's initial phase I of 544,000 square feet of mixed-use space is completed. The project consists of 312,000 square feet of class A office space and is currently 93% leased. 63 high-end terrace apartments account for another 94,000 square feet total and is 100% leased with a waiting list of future tenants. Retail space is the final component of the project.  The 138,000 square feet of space is currently 80% leased.

Today, Camana Bay has a long roster of top-tier commercial tenants that includes Ernst & Young, BNY Mellon, Citco, Aon, Gran - See more at: http://www.worldpropertychannel.com/latin-america-commercial-news/camana-bay-ken-dart-dart-realty-cayman-hedge-funds-seven-mile-beach-cayman-island-hedge-fund-industry-changes-mitt-romney-michael-joseph-jackie-doak-6536.php#sthash.4fVeyeUP.dpuf

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