The Urban Development Corporation’s (UDC) was recently recognized for its engineering achievement in completing the Montego Bay Sports Complex, St James on Saturday, November 19, 2011 at the Jamaica Pegasus Hotel by the Jamaica Institution of Engineers during its Annual Awards Banquet. The facility was among two other contenders including the Falmouth Cruise Ship Terminal built by the Port Authority of Jamaica and Wigton Windfarm, controlled by the Petroleum Corporation of Jamaica who were vying for the prestigious Project of the Year Award.
The Urban Development Corporation and the Development Bank of Jamaica wish to set the record straight with respect to the sale of the government’s majority share in the Pegasus Hotel of Jamaica Limited (PHJL). It is necessary to do this given certain statements made recently in the public media. In this regard, the institutions set out below the process that was followed for the divestment of the shares.
The Urban Development Corporation (UDC) is pursuing diverse finance and business options of Initial Public Offerings (IPO), Real Estate Investment Trusts (REIT) and Private/Public Partnerships (PPPs) to provide attractive investment opportunities for private individuals and institutions. These will form the main elements of a new strategy by the Corporation to see to the implementation of city development plans through the attraction of private capital.
Hundreds of investors turned out at an Investment Forum on September 22, 2011 at the downtown Kingston based Jamaica Conference Centre as leaders in business, civic and political sectors took a critical look at investment opportunities emerging in the downtown Kingston area. The event which was held under the theme Redevelopment of Downtown Kingston: Investment Challenges and Opportunities was hosted by the Urban Development Corporation (UDC) in collaboration with Scotia Investments Jamaica Limited (SIJL).
Over 500 children from childcare and protective institutions in the corporate area were treated by the Urban Development Corporation (UDC) to a fun-filled day at the 31st staging of the Hellshire Summer Fun, which was held at Fort Clarence Beach in Hellshire on July 28, 2011.
This year nine institutions were treated at the event including Glenhope Place of Safety, Early Stimulation Project, My Father’s House, St. Andrew Hostel, Best Care Lodge Reddies Place of Safety, The Nest, Maxfield Park Children’s Home and Walkers Place of Safety.