UDC updates Jamaica Chamber of Commerce on investment opportunities
The Urban Development Corporation (UDC) is continuing its stakeholder sensitization of its mandate and current investment opportunities.
Speaking at the Board meeting of the Jamaica Chamber of Commerce recently, Robert Stephens, UDC Deputy General Manager, Subsidiaries Management and Revenue Generation presented a raft of projects and assets that are ready for take up and expansion.
These include Catherine Hall Entertainment Centre, Seacastles Apartments, St. James, Caymanas Golf and Country Club, Cotton Polyester Complex, St. Catherine, Ideal Warehouse and Festival Marketplace, in downtown Kingston which are currently featured on the corporate website www.udcja.com .
According to Mr. Stephens, ‘another opportunity to hit the market soon is a request for submissions of interests in the development of a Parking Garage on property owned by the UDC on Port Royal Street. This is planned to be a private sector driven project where private developers are invited to build, own and operate the car parking garage’.
Recently, a number of key private and public sector investments have been successfully facilitated by the Corporation or, are at advanced stages. These include Forum Hotel- which is being divested to a private sector group as a residential and commercial complex. Negotiations are ongoing with respect to Oceana Hotel which will be refurbished as a hotel and business complex to bring back economic activity to downtown Kingston.
HEART Trust NTA has also invested in the Machado Complex which will be developed as a downtown Kingston education and training complex to unearth and develop new skills in our people.
Meanwhile, the Jamintel Building is being divested to the Ministry of Transport and Works to satisfy their need for space for offices and to move major public sector operations back downtown to drive economic development while Lot 21, Harbour Street,
Kingston will be transformed into a Commercial Centre and Parking Facility by the Grace Kennedy Group.
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