As the Urban Development Corporation (UDC) moves apace to advance development in downtown Kingston, Montego Bay as well as sections of St. Ann and St. Catherine, the Corporation will be laying out prime investment opportunities for sale and lease in these areas at the upcoming 12th Regional Conference of the Jamaica Stock Exchange.
The three day conference to be held January 24-26 at the Jamaica Pegasus Hotel under the theme “Global Investment Horizon: Our Options our Future,” will attract local, regional and global investors. The Corporation will use the opportunity to outline plans for the specified development areas within its portfolio, to sell properties in some instances and to foster public/private partnerships in order to mobilize other projects in accordance with Government divestment guidelines and procedures.
Among the investment prospects to be highlighted are the proposed construction of a multi-storey parking garage, and office complex on Port Royal Street, and an apartment complex on West Street in downtown Kingston to be informed by a market research survey. These projects are being pursued as part of the larger redevelopment plan for Downtown and in tandem with other development activities, such as Oceana Hotel Redevelopment; National Heroes Park; New Grace Kennedy Headquarters and Financial Centre; Ministry of Foreign Affairs; and the buildout of United Nations House, which have all begun.
With regards to the City of Montego Bay, the UDC will be seeking to attract developers to bid for the development of lands at Seaside in Rose Hall, directly opposite the Montego Bay Convention Centre as well as a partner to invest, develop and manage the Catherine Hall Entertainment Centre.
In St. Ann, real estate developers can take advantage of an offering of 11 Acres of prime beachfront property in the picturesque seaside community of Cardiff Hall, Runaway Bay, as well as, 21 acres adjacent to the Golf Course both suitable for resort/residential development.
Meanwhile in St. Catherine, as the UDC progresses with the first phase of the redevelopment of the Fort Clarence Beach, the Corporation will be inviting partnerships for implementing subsequent phases of the plan. The only licenced public beach directly serving Kingston and St. Catherine, the facility bears great potential for economic benefits with the continued patronage of its Jamaican clientele and the increased patronage anticipated as the region prepares to welcome more cruise ship visits to Kingston. Four prime lots in Portmore, which are suitable to be used as ICT/Commercial or factory spaces, will also be included for sale in the UDC’s portfolio to be presented at the conference.
The Corporation recognizes the importance of facilitating public/private partnerships as it executes its role as a major driver of Jamaica’s Sustainable Economic Development.
For further information, please contact
The Corporate Relations Department
Urban Development Corporation
12 Ocean Boulevard, Kingston Mall
January 23, 2017