Cayman Enterprise City marks a milestone several years in the making, breaking ground on phase one of the Special Economic Zone’s master planned permanent campus.
“This is the start of 25 years of continuous construction for us and, you know, I’m just so excited,” said Cayman Enterprise City Chief Development Officer Cindy O’Hara.
Government officials and other dignitaries joined Ms. O’Hara for a ‘golden shovels’ groundbreaking on what she called her passion project.
“Seven years ago when we started this project we imagined having the campus started, and you notice how much work and time and people, and partners we’ve had to kind of help us get to this point, it is one of the happiest days,” said Ms. O’Hara.
“It hasn’t always been easy to get here, in fact it has rarely been easy, but we consider this to be obviously a very significant milestone,” said CEC CEO Charlie Kirkconnell.
Mr. Kirkconnell said Wednesday’s groundbreaking is just the first step towards the Special Economic Zone’s ultimate goal.
“We have a tremendous amount of work to do to convert the site into, you know, essentially the main campus of the Special Economic Zone, and it is a big job,” said Mr. Kirkconnell.
He told Cayman 27 for the Special Economic Zone, now home to 250 companies and counting, a central physical campus paves the way for future growth.
“This gives it a little bit more substance, in some peoples eyes, a lot of substance, the fact that we have our own buildings, that will be placing our clients into as part of the grand scheme to develop this center of excellence, an innovation hub here in the Cayman Islands,” said Mr. Kirkconnell.
And while the build-out is expected to take place over two and a half decades, Ms. O’Hara told Cayman 27 she’s ready for the long-haul.
“It only gets better, it only gets more thoughtful, and you know, having 55 acres is an architect’s dream,” said Ms. O’Hara.
Ms. O’Hara said completion of the first building is expected to take about two years
CEC said the campus will eventually house 750,000 square feet of office space and 450,000 square feet of residential development when the 25-year plan is finally realised.