Ambitious is a great word to describe property development in the Cayman Islands. In the past couple of years, several ambitious projects have been announced or launched – Cayman Enterprise City, ForCayman, The Barcadere and the Shetty Hospital. Each of these is a multi-faceted real estate complex on a grand scale.

The Shetty Hospital is a massive project intended to bring a 2000-bed hospital to the island as the center point of a vast health care facility catering to what some have termed ‘medical tourism.’ The project will take up 600 acres of land, likely in the East End district. As with most such projects, this one will proceed in stages. Infrastructure upgrades will be required for the later phases. This will mean that residential and commercial property in the Eastern districts will benefit from improved services.

Of course, the project will also create a new employment sector – medical specialists – adding demand for housing to the residential market. No doubt, housing developments will spring up near the hospital to offer staff easy commutes. The eastern districts are relatively undeveloped and unpopulated compared to George Town, West Bay and Bodden Town. Over the years, a few hotel projects have eyed East End, but this is the first commercial development to take advantage of abundant real estate beyond the Seven Mile Beach corridor. We look forward to learning more details about the ambitious Shetty Hospital project.