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The UDC Seeks Correction to Misleading Headline on Sale of Island – Booby Cay

The Urban Development Corporation (UDC) views with concern the headline story in today's (October 13, 2011) edition of the Jamaica Gleaner 'Island Sold Cheap'.

The assertion was made that 'the UDC had undertaken the sale of a 23-acre island known as Booby Cay in Negril for $351 million'.

The Corporation wishes to advise that this information is incorrect and that the island is still in its possession. We note that while the island falls within a pool of asset holdings slated for divestment by the Corporation, there has been no recent negotiation for the sale of the property.

The UDC therefore has no knowledge of the source of this information and now seeks to correct this error in communication. Additionally, the Corporation will reserve comment at this time on other issues raised in the article in the interest of not compounding this error.

The Corporation further states that divestment of any asset by the UDC is done in accordance with its mandate as the island's main urban development authority and within the required legal, financial and environmental framework.

The Corporation which forms part of an Enterprise team is guided by a comprehensive policy on divestment of national assets. This divestment process is being carried out in an open and transparent manner in partnership with the Development Bank of Jamaica.

On the specific issue of Booby Cay, the general public will be invited in the coming weeks to submit proposals for the development of the property.

In keeping with its duty to the public, the Corporation invites members of the media or the wider public to contact the Corporate Communication Division of the UDC for information and clarification on this and any other issue of public importance.