UDC signs Forum Hotel sale agreement
Senator KD Knight (centre), Chairman of the Urban Development Corporation (UDC) greets Michael Lake (2nd right), Director, Portmore Marina Development Limited (PMDL) at the official signing of an agreement for the purchase of the Forum Hotel, St. Catherine. Sharing the occasion are Robert Stephens (left), Deputy General Manager, Subsidiaries Management and Revenue Generation, Colin Fagan ( 2nd left), Member of Parliament ,South East St. Catherine and Desmond Malcolm (right), General Manager, UDC. The J$350 million agreement was inked between the UDC and PMDL, on January 28, 2014 at the UDC’s Corporate Office, 12 Ocean Boulevard. The initiative falls within the broad vision of the Corporation for making development happen when and where it is needed in the context of national priorities.