Real Estate

Recent Items about: Real Estate

Market Update: Pan-Jamaican Investment Trust Confirms J$400 Million Oceana Hotel Cash Transaction

On November 18, 2014, Pan-Jamaican Investment Trust Limited (PJAM) announced the purchase of the Oceana Hotel (“Oceana”) in downtown Kingston, as well as a long term lease of the parking garage adjacent to the hotel, from the Urban Development Corporation (“UDC”) in a $400 million cash transaction. The Oceana has been purchased by a joint venture of PJAM, through its wholly-owned subsidiary Jamaica Property Company, and Downing Street Realty Partners (“Downing Street”), a Toronto-based real estate developer with whom PJAM has enjoyed a long relationship. The initial phase of the project, already commenced, will be to develop a comprehensive master plan for the site, as well as to renovate and upgrade the parking garage.

Mergers and Acquisitions

Acapulco – A Lesson for the Caribbean on How to Kill An Perfect Tourism Destination

No one comes here anymore....All Gone.

Especially Jamaica and Trinidad and Tobago may want to take a particular look at what has happened to the once renowned, celebrated and highly sought after party destination of Acapulco, Mexico.

Cancun in Mexico, Acapulco in Mexico, Nassau in The Bahamas and Negril in Jamaica have long been among the top spring break destinations. However, a spike in gang violence and drug warfare in recent times have all but demolished Acapulco’s desirability to visitors and real estate owners alike.   Continue Reading

Macroeconomic Tagged

Wanna Buy A 5 Star Hotel?

If you happen to have some Butch Stewart like money and ambition lying around, you may be interested in an a public auction to be held in Anguilla on Wednesday the 2nd of May 2012. The auction will include the five star Cap Juluca resort.

Cap Juluca resort is no ordinary venue. When you google the name and see its great beaches and interior design it will be a lot easier to believe that the hotel has “consistently high occupancies at an annual average daily rate in excess of $900.” Continue Reading

Entrepreneurship, Mergers and Acquisitions Tagged

Turks and Caicos Real Estate Market Bounces Back

President of the Turks and Caicos Islands Real Estate Association, Kathryn Brown has reported that, based on year to date figure, “sales over the period climbed 28 percent, while property prices increased between four and five per cent over the period.”

The TCI’s real estate market has been steadily depreciating since 2008, but now it is showing tremendous signs of life from both the perspectives of properties sold and prices fetched. Continue Reading

News / Releases Tagged