New York, NY – April 27, 2022 – New York City-based co-developers Melkonian Capital Management (Melkonian) and RAL Companies (RAL) behind Mandarin Oriental, Grand Cayman, today announced they have received approval from the Central Planning Authority for an additional 22 branded condominium units in a distinctly designed additional phase of development. Set to break ground this summer, the development will be the first Mandarin Oriental Residences in the Caribbean, which will also feature a 91-key hotel.
Located on the southern-most coast of the island, a sanctuary called St. James Point, this next phase of residences is designed by award winning Paris-based architects Architecture Workshop (AW2) led by Reda Amalou and Stéphanie Ledoux. This phase will also include an expansion of the resort’s amenities including a trail system, gardens, and more.
“We are very excited about the approval of this addition to the project, which will bring an added layer of luxury, a greater diversity of residential offerings, and beautiful design to the existing landscape,” stated Ryan Melkonian, Managing Partner of Melkonian. “We have seen strong sales interest thus far from visitors and existing Cayman residents, as potential buyers are immensely attracted to the five-star Mandarin experience we are bringing to Grand Cayman – the first of its kind away from the crowded Seven Mile Beach.”
Anticipated to be completed in 2024, Melkonian and RAL are introducing a new level of design sophistication to Grand Cayman, with two-, three- and four-bedroom+ residences and larger penthouses that feature open, contemporary layouts with expansive terraces and panoramic ocean views. Owners will enjoy signature culinary experiences, wellness amenities, a destination spa, and much more – all enhanced by Mandarin Oriental’s legendary five-star service.
“We are committed to working with the local community and with the Cayman Islands government to deliver a truly spectacular residential resort to the island,” stated Spencer Levine, President of RAL. “We are eager to bring this project to fruition, which will bring many jobs to the island and the immediate Bodden Town area. This project will further expand and solidify Grand Cayman’s prominence as a luxury tourism destination.”
For more information, visit https://www.moresidencesgrandcayman.com
