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© 2020, Urban Development Corporation

Our Asset Base

The UDC has a combined asset base valued at approximately J$41 Billion, mainly in land and buildings. 

Although it is a Government-owned company, it was taken off the central Government’s Budget in 1987 and is required to be self-financing. Its Law also requires the Corporation, to submit an annual Report to Parliament. Projects are therefore financed by the UDC’s retained earnings, grants from the Government, loans from commercial banks and international lending institutions for primary infrastructure and secondary development. Income is derived from the return on investments in land and buildings, property sales and project management fees.

The Corporation often seeks investment partners to conquer the new frontiers of development, for example Heritage Tourism.  Areas such as the Spanish Town Historic District, Port Royal, Falmouth and Port Antonio offer tremendous scope for development to meet the future needs of Jamaica