WHAT'S NEXT IN REAL ESTATE FOR DEVELOPER MICHAEL RYAN AND THE CAYMAN ISLANDS?

8.22.2022

Nadege Parent

Mike Ryan is no stranger to excellence. As the founder and CEO of Silverfin Development Company, he's been responsible for bringing some of the Cayman Islands' most iconic destinations to life. So when it comes to Prisma, his newest residential project in the Crystal Harbour community, you can bet there'll be no cutting corners – just a commitment to exceptional design quality and excellence unparalleled in Cayman Islands' real estate market.

Crystal Harbour

A new way of life for Crystal Harbour

After the tremendous success of FIN Grand Cayman, business partners Michael Ryan and Dale Crighton decided to challenge themselves once again to build something never before seen in the Cayman Islands.
So Prisma will not be just another residential project. It will be an Urban Oasis in the heart of the upscale gated community of Crystal Harbour, where people will want to live, work and play. It will usher in a new way of life in the Cayman Islands.
Prisma will have an urban, industrial aesthetic, perfect for modern-day island living while acknowledging the island's past. It has been designed to focus on space, style, quality, and comfort. 
Designed to bring people at different stages of their lives and careers together in a vibrant community, the residential development will be comprised of five towers, which will vary in height from seven to nine stories and will have just two lofts per floor with private elevator access and glass on three sides. Two-story penthouses with 360-degree views will cap the towers. 
There will also be sixteen terrace homes over three and four stories, backing onto one f the canals surrounding the site—some with private elevators and all with individual private pools overlooking their private boat slips.
On the northern canal will be ten villa homes, spread over three sprawling floors with private pools on the rooftops and a private boat garage under the house.
All of this will be wrapped around a marine basin surrounded by a gourmet market, cafes, fitness studio, signature restaurant, and a gorgeous waterside promenade.
And Prisma offers all of this in a beautifully designed community connected to and by the water, with plenty of opportunities for families and individuals alike. It will have everything you need, from restaurants and shops to parks and promenades – all just minutes from George Town or any other major destinations on Grand Cayman Island.

Real Estate Cayman Islands

What’s to come for Cayman Islands' real estate market

Projects like Prisma are a testament to the new wave of real estate development taking over the Cayman Islands.
The Cayman Islands have been a popular destination for wealthy individuals and families for many decades, as well as for offshore companies and investors. But in recent years, there has been a shift in the type of people buying and investing in real estate development there. 
In the past, most buyers were older individuals who had lived or worked on the islands for years. Today, however, with the shift in working patterns and a new global approach to business, younger buyers and investors are taking an interest in Cayman Island’s real estate market, which is helping to revitalize it and attract new interest from the global community.
The Cayman Islands government has also been working hard to ensure this trend continues by creating incentives for tourists, developers, and investors. 

Luxury development at the forefront 

Luxury real estate developer Michael Ryan is a visionary who also has his finger on the pulse of the Cayman Islands’ real estate market, that‘s why FIN Grand Cayman was such a complete success, and all indications are that Prisma will be even more so. 
Developers like Mike Ryan know that in this new generation of purchasers, there’s a high demand for projects that cater to the needs of high-net-worth families and individuals. Focusing on luxury design and amenities like expensive spas, high-end restaurants, and boutique shopping venues, these enclaves give buyers more than just a place to put their feet up — they're creating unique experiences and communities that can't be replicated anywhere else on earth.
As a result, more large-scale luxury residential developments are beginning to spring up in key locations around the islands. And investors are noticing it.

Luxury Real Estate

Investing in the Cayman Islands right now

It is well known that the Cayman Islands is one of the best places in the world to do business and invest because of its low taxes, sound legal system, and stable political climate. 
But the investing panorama has never been better. With the U.S., Canadian and European economies all struggling through tough times, they are less attractive places to invest in real estate than countries like the Cayman Islands, where property values have been increasing steadily over the last several years.

Takeaway

As luxury-property developers like Michael Ryan continue to build projects that change the standards of luxury, the Cayman Islands is well on its way to becoming one of the world's most desirable luxury real estate destinations for global high-net-worth individuals. For developers and investors, this spells only opportunity with no sign of slowing down anytime soon.
The future of luxury-real-estate development in the Cayman Islands looks bright indeed. For those looking to make good investments in real estate, there's never been a better time to act.

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