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Dart Group Expanding Caribbean Interests

Dart Group Expanding Caribbean Interests

Dart Group has recently announced their involvement with major projects in both Turks and Caicos and the Bahamas, evidence of their ever expanding interests in the wider Caribbean.  However, many of their planned projects in the Cayman Islands, the base of their operations, are currently on hold due to the changing political climate.

The new construction contract in Turks and Caicos reflects a partnership with The Hartling Group, as the two have paired up to construct an $80 million luxury condo resort in Providenciales.  DECCO (Dart Enterprises Contracting Co.) will provide construction management services during Phase One of the Shore Club development, a nine acre project that will include 38 condos and amenities.

In terms of an ownership stake, the Bahamas project represents an even greater commitment for the Dart Group, as it actually purchased a commercial building in Nassau. The sale went through a few years ago and the company has recently finished the refurbishment of the downtown building.  The Bahamas government is extremely supportive of efforts to redevelop downtown Nassau, going so far as to waive import duties on items purchased to that end.

According to the CEO of DECCO, these projects are only the beginning of Dart Group’s interest in the Caribbean.  Mr. Graham said, “Dart is in the early stages of reviewing projects in St. Lucia, St. Kitts, Antigua and Jamaica.”  According to the website of Ken Dart, the company does not plan to stop there. He is said to be “involved in a number of recreational and commercial real estate development and retail operations in the United States, the Cayman Islands and other parts of the world, e.g. South America, Europe and the Far East.”

Although Dart seems determined to expand his reach throughout the Caribbean, he will always have long-standing roots in the Cayman Islands, where he currently makes his residence.  His purchase of the former West Indian Club Hotel in 1995 ensured his place in the Cayman Island community, at which time he also acquired 238 acres of land from Seven Mile Beach to North Sound.  This would later become the basis for the Camana Bay development, a community developed entirely by Dart Realty and based on the principles of New Urbanism.

From: compasscayman.com, Image from destination360.com

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