UDC Offers Investment Opportunities in Portmore through Divestment of Real Estate
The Urban Development Corporation is offering the sale of four prime lots in Portmore, St. Catherine suitable for ICT/Commercial, factory, light industrial; bakery, manufacturing, warehousing spaces.
The lot sizes range from 22,529.21 to 78,903.98 square feet and all fall within the Portmore Centre Development prime commercial area. The buildout of the area was provided for in the urban development zoning process under the provisions of the Town and Country Planning, St Catherine Coast (Confirmed Development Order), 1964.
These lots are strategically located with access to Kingston via Highway 2000 and Marcus Garvey Drive. Lots 8 and 9 are along the northern side of East Trade Way, just east of the Portmore Information Park. Lots 10 and 11 are along the eastern side of Exchange Avenue; across from the complex housing the Maxi Department Store and the National Commercial Bank.
Nearby businesses include the Portmore Shopping Centre, Mega Mart, Petcom Service Station, Tastee, Courts, KFC, Burger King, Victoria Mutual Building Society, Captain’s Bakery and First Heritage Co-Operative Credit Union. Interested investors must be able to develop a financially viable project that produces a long term benefit to the community, employs a significant number of people, complements the UDC’s Re-development Plan Downtown Kingston and Port Royal, and has minimal impact on the ecology of the area. Additionally, they must be able to provide the highest return to the UDC for the right to develop the proposed opportunity on the site and demonstrate that they have prior experience in similar developments and operations.
All proposals must be properly submitted in accordance with the requirements of this invitation by 3:00 p.m. on Thursday March 9, 2017. No late proposals will be accepted. Any Proposal received by the UDC after the prescribed deadline for the submission of proposals will not be accepted.
Proposals will thereafter be opened at 3:15 p.m. on March 9, 2017 on the Ground Floor of the Office Centre Building, Kingston. Proponents are invited to attend the opening if they so choose.
The Corporation recognizes the importance of facilitating public/private partnerships as it executes its role as a major driver of Jamaica’s Sustainable Development thereby resulting in in improvement to the quadruple bottom line economically, socially, culturally and environmentally.
For further information, please contact
The Corporate Relations Department
Urban Development Corporation
12 Ocean Boulevard, Kingston Mall
March 3, 2017