You are on page 1of 38

JAMAICA

Investment Opportunities

www.tradeandinvestjamaica.org
CREATIVE INDUSTRIES
JAMAICA
WHY JAMAICA?
INVESTMENT OPPORTUNITIES

Ideal Location and Stable Government & Educated English-speaking


accessibility Economy workforce

Gateway to multiple Independent Judiciary Skilled, semi-skilled labour


destination
Diversified and well Intensive Infrastructure
EST Time Zone - convenient for developed capital market Efficient Telecomunications
doiong business with the USA, Latin
American and No foreign exchange controls Tropical climate
Caribbean
Increased privatisation of public sec-
One hour from Miami tor companies

Three Hours from New York Liberal export incentives

Time zone 0-3 hours from North Liberal Import Policies


America & 5-6 hours from Europe

Main shipping lanes for Panama


Canal

1
CREATIVE INDUSTRIES
JAMAICA
INVESTMENT OPPORTUNITIES

CONTENTS Why Jamaica


About Jamaica
1
3
JAMPRO & Partners 6

GOVERNMENT OF JAMAICA PROJECTS:


Caymanas Economic Zone 8
Naggo Head ICT Park 10
Tinson Pen Logistics Centre Development Centre 12
Navy Island/Titchfield Lands 12
Vernamfield Development Project 13
Back Rio Grande Hydro Scheme 15
Great River Hydropower Plant 15
Laughlands Hydropwer 15
International Financial Services 16
PRIVATE PROJECTS
Amaterra Jamaica Ltd. 18
Negril Peninsula 19
Green Castle Estate 20
Barrett Hall Lifestyle Village 21
Barnett Tech Park 22
Cotton Tree Bay 23
Laughlands Tourist Development 24
Mahoe Bay 25
Mosquito Cove 26
San San 27
White Bay 28
DIVESTMENT PROJECTS:
Norman Manley International Airport (NMIA) 30
Wallenford Coffee Company Lid. (WCCL) 31
Mavis Bank Coffee Factory Limited (MBCFL) 31
The Oceana Building 32
The Office Centre Building 32
Font Hill 33

2
CREATIVE INDUSTRIES
JAMAICA
INVESTMENT OPPORTUNITIES

ABOUT JAMAICA
Jamaica operates a mixed market
economy. The main sectors include
agriculture, mining, manufactur-
ing, tourism, financial and insur-
ance services, transport, and com-
munications. The services sectors
account for two-thirds of gross do-
mestic product. As an open econo-
my, Jamaica is well integrated into
the global economy with external
trade contributing prominently to
overall economic activity.

3
CREATIVE INDUSTRIES
JAMAICA
INVESTMENT OPPORTUNITIES

ABOUT JAMAICA
JAMAICA’S INFRASTRUCTURE FOR FOREIGN
DIRECT INVESTMENTS

Jamaica is advanced in modernising its port, air-


ports, roads, telecommunications, water supply
and sewerage infrastructure. Investment in in-
frastructure is an important priority in national
development, having regard to its impact on the
competitiveness in the economy. The island has
been a high performer in attracting foreign direct
investment over recent years particularly in the
area of tourism, and this performance has been
attributed to improvements in its infrastructure.

Jamaica has nine active ports. The Port of Kings-


ton is the largest, which at 21 square kilometres
of navigable water, is the seventh largest natural
harbour in the world. Located along the north/
south, east/west axis of the Caribbean, the port
is just 32 miles from the trade routes that pass
through the Panama Canal.

The Port of Kingston handles approximately 80%


of all imports. It includes a modern container ter-
minal, a large break-bulk wharf with roll-on/roll-
o facilities, an oil renery and dry bulk terminal.
The fully computerised terminal has 11 berths,
backed by 40 hectares of container yard space.
State of the art stevedoring equipment includes
seven rail-mounted 40-ton gantry cranes, 30

Ò The natural harbour in Kingston is the 7th


straddle carriers, yard chassis and hustlers,reefer
outlets and a freight station.

With stellar infrastructure, competitive rates and largest in the worldÓ


a central location, the trans-shipment opportuni-
ties in Jamaica are limitless. Our easy accessibility
to the main shipping lanes that run through the
Panama Canal makes the Port of Kingston even
more attractive to international shipping compa-
nies. Over 30 shipping lines have operations in
Jamaica, covering all the major routes to the
North and South American continents, Europe
and the Far East.

4
CREATIVE INDUSTRIES
JAMAICA
INVESTMENT OPPORTUNITIES

ABOUT JAMAICA
AIR TRAVEL

Jamaica has two international airports, Norman Manley Interna-


tional Airport located in Kingston and the Sangster International
Airport in Montego Bay. Additionally, Jamaica facilitates domestic
air travel through four aerodromes namely, Tinson Pen (Kingston),
Ken Jones (Portland), Boscobel (St. Mary), and Negril (Westmore-
land).

The Norman Manley International Airport sits south of the Kings-


ton Harbour on 228 hectares (563 acres) of land. It has a runway
of 816 square metres (8,785 square feet) and is capable of accom-
modating aircrafts up to the size of the Boeing 747.

The Sangster International Airport runs along the northern strip


of the country, 3.2 km from downtown Montego Bay. It’s on ap-
proximately 235 hectares (580 acres) of land, with a runway of 809
square metres (8,700 square feet) and an associated parallel taxi-
way running the full length of the runway. The redevelopment of
the Sangster International Airport included the construction of a
new concourse and the upgrading of the existing one, which has
expanded the capacity of the airport to handle 9.5 million passen- Sangster International
gers per annum – 3 times its previous size. It was completed in
August 2008. The airport handles the bulk of the traffic generated Airport, Montego Bay
by the tourism industry and now possesses the most modern pas-
senger facilities for shopping, immigration, customs and transport
services in the Caribbean region.

HIGHWAY 2000

HIGHWAY 2000 is the centre piece of a multi-year Millennium


Projects Programme initiated by the Government of Jamaica .
The main objective of these projects is to upgrade the country’s
infrastructure and assist in providing economic opportunities for
growth and the creation of jobs.

The highway is a four to six lane controlled-access, tolled motor-


way with fully grade separated interchanges and intersections
built according to modern international standards.

Highway 2000

5
CREATIVE INDUSTRIES
JAMAICA
INVESTMENT OPPORTUNITIES

The investment projects in this portfolio are managed/facilitated by the following government agencies:

JAMAICA PROMOTIONS CORPORATION, JAMPRO


JAMPRO is the Government of Jamaica’s investment and export promotion
agency, which connects investors and entrepreneurs from around the globe to
the trade and investment opportunities available in the leading sectors of the
Jamaican economy.

Operating under the direction of the Ministry of Industry, Investment and Com-
merce, JAMPRO guides investors from the decision making stage, through the
approvals process, to when their investments become operational. The agency
focuses on the targeted sectors of tourism, manufacturing, agri-business,
information and communication technology, mining, energy, and the creative
industries (film, music and entertainment).
www.tradeandinvestjamaica.org

DEVELOPMENT BANK OF JAMAICA


The Development Bank of Jamaica facilitates the growth and development of
all viable enterprises in the productive sectors of the Jamaican economy. The
DBJ provides direct lending for large projects in strategic areas, medium and
long-term financing solutions to all entities, as well as supports the manage-
ment and privatization of national assets and investments.
www.dbankjm.com

PORT AUTHORITY OF JAMAICA


The Port Authority is the statutory corporation responsible for the regulation
and development of Jamaica’s port and shipping industry. The corporation is
responsible for the safety of all vessels navigating the ports of entry and the
regulation of the tariffs charged on goods passing through the public wharves.
In addition, the Port Authority regulates the establishment and operation of all
port facilities, develops and manages safe, secure and efficient world-class port
infrastructure in Jamaica and the related commercial operations that deliver
sustainable growth while satisfying the needs of all stakeholders.
www.portjam.com

URBAN DEVELOPMENT CORPORATION


The Urban Development Corporation has a mandate to stimulate urban devel-
opment through the planning and implementation of comprehensive develop-
ment projects and programmes.
www.udcja.com

PETROLEUM CORPORATION OF JAMAICA


The Petroleum Corporation of Jamaica has been mandated to develop indig-
enous renewable energy resources, to prevent adverse effects on the environ-
ment and to realize the goals of Jamaica’s Energy Sector Policy.
www.pcj.com

6
JAMAICA
INVESTMENT OPPORTUNITIES

GOVERNMENT OF JAMAICA PROJECTS

7
CREATIVE INDUSTRIES
JAMAICA MANUFACTURING/ICT
INVESTMENT OPPORTUNITIES

The Staging Site


Ready to occupy plug-and-play space in 50,000 sq feet
(10 Units) holding up to 700 seats. Starter facility which
permits new market entrants to pilot their business
model in a cost effective manner on the condition that
they build-out their own modular units in the ICT Zone
and relocate in 1 year. Staging sites are also aimed at
providing facilities to local entrepreneurs who can
leverage world-class facilities within their constraining
cost structures to provide sourcing services to global
clientele.

The Complete Project


• 40 acres of land with 1,200,000 square feet of
CAYMANAS ICT PARK production space hosting 12,000 seats and up
to 21,000 jobs.

• Target rental rates of US$10 per square foot


per annum

CAYMANAS ECONOMIC ZONE • On-site power generation with excess capacity


sold back to the national grid
Caymanas is ideally located for a technology Technology, Business Process Outsourcing
park development, situated at the confluence (BPOs) and IT/Security Consultancy (NOC). • Telecommunications providers will supply last
of the major population centres of Kingston, mile connectivity
Spanish Town and Portmore. All three loca- Project Concept
tions are 25-40 minutes from the Norman
An integrated ecosystem built on a modular Infrastructure
Manley International Airport with excellent
public transportation and networked with the plan from seeding or staging site. • Modular Floor Layout for Office Space
island’s Highway 2000.
• Intelligent self-contained City based on • Scalable office Infrastructure (28-38,000 Sq. Ft.
Modern shipping and trans-shipment work-play-live and Knowledge Innovation Single Floor Plate).
services are less than 10 minutes away at Zone/Knowledge City concept
the Port of Kingston, all underpinned by a • Earthquake and Hurricane resistant infrastruc
sophisticated world-class telecommunica- • Staging site, training centre, ture
tions backbone. light data centre facilities, meeting
rooms and business centre • Centralized air-conditioning & AHUs located on
• Kingston, national capital with an es each floor
timated population of 580,000, offers • Immigration Services, Customs offices,
the region’s premier transportation Free Zone certification, one-stop window • OFC and Structured Cabling Network.
centre as well as 146 schools, 6
management institutes and 4 • Campus offices representing all major • Private dedicated power supply [IPP]
universities. universities and recruitment/job fair
centre • 100% Power Backup Support (supported by on-site
• Portmore is the largest middle– power generation by utility partner) 24 hour
income dormitory community in the • Support services include restaurants, uninterrupted water supply
English-speaking Caribbean with banks, ATMs, daycare, doctors offices,
over 265,000 residents many of emergency medical services, dedicated • Large Capacity, High Speed Passenger and Service
whom have post-secondary educa- transportation hubs Lifts
tion.
• Adjacent retail and recreational facilities
• Spanish Town, Jamaica’s former capi and middle income residential develop
tal has over 150,000 reside. ments for Knowledge Workers.

The Caymanas Economic Free Zone (CEFZ)


consists of 1500 acres of prime real estate,
of which 40 acres have been earmarked for
the development of phase 1 of the ICT Park
which will house: Software Development,
Telecommunications/Co-Location sites, Bio-

8
CREATIVE INDUSTRIES
JAMAICA MANUFACTURING/ICT
INVESTMENT OPPORTUNITIES

CAYMANAS ECONOMIC ZONE


Amenities Training: The National Training Agency
(NTA)
• Security - Access Control and Electronic Surveillance.
The HEART Trust NTA gives technical support and financing
• Transportation services for employment training, institutional and via on-the-job

• Multi-Cuisine Food Courts, Banks and ATM’s, Retail Outlets, Busines Center, etc. training/ partnerships with community organizations. The
agency partners with start-up investors to promote worker
• Ample Parking Space. training and certification with focus on high-skilled jobs
where training leads to certification.
• Beautifully landscaped area comprising of manicured lawns and gardens.

Project Costing:
Project Phasing:
Total investment for completion of buildings estimated at
• Phase 1: Infrastructure works
approximately US$ 90 million. Typical cost to build a facility
• Phase 2: Staging Site
is estimated at US$75 per square foot with an additional
• Phase 3: Support facilities
US$75 per square foot for fit-out. Investment for infrastruc-
• Phase 4: Modular build-out based on client commitments
tural works is a projected US$120 million. Target rental rates:
Subdivision Plan with splinter titling, building specifications and ownership options: US$10 per square foot per annum. Typical time-to-build is
8 - 16 months.
• Long term lease
• Lease for purchase
• Outright purchase

Development Incentives:
Real Estate/Land:
The Jamaican Government has placed the 40 Acres of land at Caymanas in a Public-
Private partnership (PPP) vehicle for development. The developer will take advantage
of the following concessions offered under the Tax Incentive Programme for Urban
Renewal (TIP):
• Tax-free status on bonds issued
• Tax credits of 25% of capital expenditure
• 100% tax concessions on rental / lease income

Marketing
The Government of Jamaica through its Investment Promotions Agency, Jamaica
Trade and Invest/JAMPRO will co-market the ‘Caymanas ICT Business Park’ in conjunc-
tion with the Real Estate developer. Clients of the Park will receive the following
benefits:
Free Zone: Park clients who export more than 85% of their services offshore will
benefit from the following:
• No restriction on repatriation of foreign exchange
• Corporate tax exemption on profits in perpetuity
• Import duty exemption on capital equipment
• Reimbursement of VAT on local purchases

9
CREATIVE INDUSTRIES
JAMAICA INFORMATION COMMUNICATIONS
INVESTMENT OPPORTUNITIES TECHNOLOGY ICT)

In addition such sites are also aimed at providing


facilities to local entrepreneurs who can leverage
world-class facilities within their constraining cost
structures to provide sourcing services to global
clientele. Typically such sites have the configura-
tion as shown on Figure 1 overleaf. (See Fig. 1)

The Complete Project


● 600,000 square feet hosting
approximately 6,500 seats and up to 12,000
jobs.

● Target rental rates of US$10 per square


NAGGO HEAD ICT PARK foot per annum

PORTMORE MUNICIPALITY ● On-site power generation with excess


capacity sold back to the national grid
Demographics is linked to the Americas Region Caribbean Ring
System (ARCOS-1) submarine cable in the Do- ● Telecommunications providers will
The Municipality of Portmore is the English- minican Republic; the link to ARCOS-1 provides supply last mile connectivity
speaking Caribbean’s largest middle–income seamless connectivity to US, parts of the Carib-
dormitory community, and a strategic location bean, Central America, and South America. There Infrastructure
for Jamaica’s ICT development. With over 265,000 are two major broadband carriers which provide
● Modular Floor Layout for Office Space
residents many of whom are tertiary educated; triple redundancy.
Portmore offers a large certified workforce and Project Concept ● Scalable office Infrastructure
easy access to first-rate educational institutions. (28-38,000 Sq. Ft. - Single Floor Plate)
Within Portmore, the Government of Jamaica has
● Earthquake and Hurricane resistant
Accessibility earmarked a region called ‘Naggo Head’ for the
infrastructure
purposes of establishing 21 acre Technology Park
Portmore is 10 minutes from the nation’s capi- which is expected to break ground in early 2011. ● Centralized air-conditioning & AHUs
tal – Kingston and 25 minutes from the Norman located on each floor
Manley International Airport with excellent road The Naggo Head ICT Park is premised on an in-
tegrated ecosystem built on a modular plan from ● OFC and Structured Cabling Network.
connectivity and infrastructure for communica-
tion and utilities. It is connected by the Highway seeding or staging site. Typical time-to-build is ● Private dedicated power supply [IPP]
2000 toll road as well as the Mandela Highway. anywhere between 8 months to 16 months.
Portmore’s attractiveness has captured the atten- ● 100% Power Backup Support
tion of outsourcing industry heavy-weights such The Staging Site
● 24 hour uninterrupted water supply
as Affiliated Computer Services (ACS), and West
Corporation which facilitate the business process- Staging Sites have become a feasibly sound so- ● Large Capacity, High Speed Passenger
ing needs of Fortune 500 clients such as Delta Air- lution, serving as a stop-gap measure for clients and Service Lifts
lines, Xerox Corporation and Proctor and Gamble. while their decisions surrounding total real estate
requirements are satisfied – custom buildings, Amenities
Jamaica’s world class telecommunications in- large-scale facility lease, corporate-design fit-
● Security - Access Control and Electronic
frastructure extends to Portmore. The Fibralink outs etc. Staging Sites are meant to provide cli- Surveillanceww
submarine cable network provides enhanced de- ent organizations with a facility to deploy “plug-
livery of business and broadband traffic. Jamaica and-play” models with their chosen businesses. ● Transportation services

10
CREATIVE INDUSTRIES
JAMAICA INFORMATION COMMUNICATIONS
TECHNOLOGY ICT)
INVESTMENT OPPORTUNITIES

NAGGO HEAD ICT PARK


PORTMORE MUNICIPALITY

● Ample Parking Space.

● Beautifully landscaped area comprising of


manicured lawns and gardens.

Development Incentives

Real Estate/Land

The Jamaican Government has placed the 21 Acres


of land at Naggo Head in a Public-Private partnership
(PPP) vehicle for development. The Urban Renewal Act
and Factory Incentives Act offer attractive tax-free Real
Estate benefits to encourage development.

Free Zone
Marketing
Park clients who export more than 85% of their
services offshore will benefit from the following: The Government of Jamaica through its Investment Promo-
tions Agency, Jamaica Trade and Invest/JAMPRO will help
● No restriction on repatriation of foreign exchange facilitate marketing of the ‘Naggo Head ICT Business Park’ in
conjunction with the Real Estate developer.
● Corporate tax exemption on profits in perpetuity
Project Costing
● Import duty exemption on capital equipment

● Reimbursement of VAT on local purchases Total investment for the completion of the buildings is esti-
mated at approximately US$ 45 million. A measure of US$ 75
Training: The National Training Agency is estimated per square foot to build with another US$ 75 per
square foot for fit out.
The HEART Trust/National Training Agency gives tech- Infrastructure works investment is projected at approximately
nical support and financing for employment training US$ 60 million.
through an island-wide network of institutions, and
via on-the-job training/ partnerships with community
organizations. The agency partners with start-up in-
vestors to promote worker training and certification.
It has particular interest in high-skilled jobs where
training leads to certification. The agency offers finan-
cial assistance, usually in partnership with the firm, to
fashion on-the-job and in-plant curricula for compa-
nies creating new jobs. Project support are negotiated
and driven on specific project analysis. The Agency also
helps to recruit and screen applicants and assesses and
certifies on-the-job learners. Limited financial support
offered to firms that pursue accreditation as a training
organization.

11
CREATIVE INDUSTRIES
JAMAICA LOGISTICS/TOURISM
INVESTMENT OPPORTUNITIES

TINSON PEN LOGISTICS CENTRE NAVY ISLAND/TITCHFIELD LANDS


DEVELOPMENT
LOCATION: PORTLAND
LOCATION: KINGSTON
The Tinson Pen Logistics Center proposes the development of an inter-
national, multi modal logistics and distribution center on 40 hectares of
land, which is currently occupied by the Tinson Pen Aerodrome. The de-
velopment of the Centre will include display areas, administrative
facilities, warehouses and the construction of a new aerodrome and as-
sociated facilities. The services to be provided include inter alia cargo lo-
gistics, warehousing and value added services. Located to the south-east
of Kingston, the property is zoned for industrial purposes and adjoins
the Port of Kingston and the Free Zone company operated by Kingston
Logistics Centre (KLC).

The facilities will consist of:


• showrooms and display pavilions;
• warehouses for value-added and fulfillment services;
• information and trade research center;
• offices (customs, administrative and support services).

Key Highlights
• The estimated value of Investment required is US$400 mn
• A Feasibility Study is currently underway
Navy Island is a small 25 hectare island on the northeast coast of Jamaica
• The land is owned by the Government of Jamaica owned by the Port Authority of Jamaica (PAJ/The Authority). PAJ is de-
sirous of developing the property into an upscale resort and ecological
theme park. The property is in close proximity to Port Antonio’s upscale
tourism destinations, as well as the Ken Jones Aerodrome and has two
natural beaches. The Authority, is aggressively seeking a suitable inves-
tor who is willing to purchase or partner with The Authority for the fu-
ture development of the property.

Key Highlights

• There are two natural beaches on the western shore of the island:
Crusoe Beach and the v e r y s e c l u d e d Trembly Knee Beach

• Close proximity to the Errol Flynn Marina, a 32-slip mega -yacht


marina, and the Ken Wright Cruise Terminal

• Access to electricity and water from the mainland

• Highway 2000 connectivity to other premier destinations on the


North Coast

12
CREATIVE INDUSTRIES
Vernamfield

JAMAICA
Development Project

AIR CARGO, LOGISTICS, AVIATION


INVESTMENT OPPORTUNITIES

Several Incentives will be offered to Investors which


will result in greater levels of profitabiity and ease in
doing business.
These include:
• Industry Incentives Act: If a business in Jamaica
produces an “approved product” that has a supply
market of less than 60% of the demand market,
then it may gain “approved enterprise” status,
which exempts it from the payment of income tax
for a period of time.
• Foreign Sales Corporation (FSC) Act: An FSC is a
foreign corporation that is allowed to earn some
tax exemption on its exports to the U.S. This act
provides relief from the Common External Tariff
and the General Consumption Tax on equipment,
machinery, and materials coming into the coun-
try. In addition, it provides for up to five years of
income tax relief.
VERNAMFIELD DEVELOPMENT • International Financial Companies Act: In an effort
to promote offshore banking facilities, Jamaica
LOCATION: CLARENDON has provided international financicompanies with
income tax relief on both profits and capital gains.
The re-development of the Vernamfield • Air/Sea Logistics (distribution centres,
property into a major air cargo hub, aircraft commercial space for trade shows, fire
maintenance and aviation training facility, as and rescue station)
well as a local military base, began as a con- • Dry port concept (warehousing facility
cept almost 20 years ago. for off-site manufacturing and assembly
Located in central Jamaica, Vernamfield plants)
comprises 1,773 hectares or 2,900 acres of • Aircraft maintenance facility
land, which makes it larger than Manhattan,
New York. Historically, Vernamfield was the best loca-
tion in the region for the USA’s Intermodal
Current capacity includes a 5,000-foot con- transportation system, and for the protec-
crete runway. The total development project tion of their merchant fleets.
is estimated at US$1 billion to design and
construct two parallel 11,000 foot runways Its re-development has been the long-nur-
and taxi ways. These rehabilitated runways tured brainchild of veteran parliamentarian
will have the capacity to handle the largest and current Minister of Transport and Works,
aircraft, including the Antonov AN-124, AN- Mike Henry, who has set out to make the
225 and the Airbus A-380. The development project a major catalyst for economic devel-
includes the construction of Category Five opment in the parish of Clarendon and the
hurricane-proof aircraft hangers, which will broader central Jamaica region.
include offices and warehousing.
Once Vernamfield is developed, it will pro-
vide a new airport for cargo carriers, manu-
facturing and logistics, specifically:
• Air Cargo (centralized sorting and clear-
ance centres)
• Express Courier Cargo Handling Facility
• Fully equipped aerodrome with tele-
communications centre and flexible
runway capacities

13
CREATIVE INDUSTRIES
JAMAICA AIR CARGO, LOGISTICS, AVIATION
INVESTMENT OPPORTUNITIES

VERNAMFIELD DEVELOPMENT PROJECT

Incentives cont’d
• Shipping Act: Once a company is recognized as an “ap-
proved shipping corporation,” it may receive tax relief and
concessions on import duties for up to 10 years.

• Moratorium on Duties: This is granted to companies that


don’t qualify for existing incentives, yet have the potential
to contribute significantly to foreign exchange earnings
and employment. If the company can prove that it holds
this potential, it may be granted relief from import duties
for up to three years by the Minister of Finance.

• NOTE- Most of these legislations will be reviewed or are in


the process of review to expand the services being offered
as well as to present Jamaica as more in tandem with the
demands of globalization. It will demonstrate Jamaica as
open and ready for robust trade.

14
CREATIVE INDUSTRIES
JAMAICA RENEWABLE ENERGY
INVESTMENT OPPORTUNITIES

BACK RIO GRANDE HYDRO SCHEME


LOCATION: PORTLAND
Investment Type: Equity

Description: Construction of 4 hydro –electric schemes with total


capacity of 10mw and annual generation
potential of 32,210 MWH

Stage of Investment
Readiness: Proof of Concept

Value of Investment: US$34 m

Status: Feasibility study completed in December 2009

GREAT RIVER HYDROPOWER PLANT


LOCATION: GREAT RIVER, ST. JAMES
Investment Type: Equity

Description: Construction of a hydropower plant with total


capacity of 8 mw and annual generation of 38,000 MWH

Stage of Investment
Readiness: Concept developed

Value of Investment: The value of Investment required is to be


determined.

Status: The value of Investment required is to be determined.

LAUGHLANDS HYDROPOWER
LOCATION: GREAT RIVER, ST. ANN

Investment Type: Equity

Description: Construction of a hydropower plant with total


capacity of 2 mw.

Stage of Investment
Readiness: Proof of Concept

Value of Investment: US$6.7 mn

Status: Feasibility study completed in December 2009

15
CREATIVE INDUSTRIES
JAMAICA FINANCE
INVESTMENT OPPORTUNITIES

● Strong financial regulatory system and


membership on regional and international
regulatory bodies, including the Caribbean
Financial Action Task Force (CFATF)

● A large cadre of highly trained


English speaking professionals

● World-class telecommunications

● A mature tourism product with


excellent air links

● The capacity to host large meetings in


convention hotels, with more than
20,000 rooms
INTERNATIONAL FINANCIAL SERVICES CENTRE
The vision of the IFSC is that multi-laterals
Project Overview Investment Opportunity and other enterprises will find these attributes
attractive, particularly given that Jamaica
The global offshore financial sector is a $5 The establishment of an offshore financial could position itself as a pool of relatively low
to $7 trillion dollar global industry that has services centre is a key investment initiative cost professional resources for international
been identified by Jamaica as a key area for of the government of Jamaica. The objec- finance companies seeking to reduce cost.
investment stimulation. The establishment tive is to leverage Jamaica’s strengths by
of an offshore International Financial Ser- entering the market as a Mid-Value Com-
vices Centre (IFSC), where relatively large petitor with a carefully planned strategy of
numbers of financial institutions become developing into a Centre of Excellence. As
engaged in business primarily with non-resi- a Mid-Value Competitor, we will develop a
dents, represents a clear opportunity for the niche market and build our reputation in the
Government of Jamaica to accrue substan- market until we become a global provider of
tial annual recurring revenues from statutory a highly specialized niche service.
fees. There are approximately 80 jurisdic-
tions that offer these services worldwide. The focus is on the provision of value-added
services, e.g. international holding compa-
Having commissioned a comprehensive nies, trust services, ship and aircraft registry
KPMG study of the global IFSC market, Ja- etc., which are enhanced by critical success
maica has developed a clear strategy to en- factors such as:
ter the market with a unique business mod-
el, predicated on its politically independent ● Jamaica being a signatory to thirteen
structure of Government and stable financial double taxation treaties and to a Tax
system. Information Exchange Agreement
(TIEA) with the United States.

16
JAMAICA
INVESTMENT OPPORTUNITIES

PRIVATE PROJECTS

17
CREATIVE INDUSTRIES
JAMAICA TOURISM
INVESTMENT OPPORTUNITIES

AMATERRA
Amaterra Jamaica Limited, a proposed five-star resort and mixed-
use development with a championship golf course and other at-
tractions, is located in the vicinity of Duncans in the parish of Tre-
lawny.

It is situated next door to the site of the exclusive Harmony Cove


development, and will be constructed on 865 acres. The project
is potentially one of Jamaica’s flagship mixed-use developments,
with plans that call for the construction of villas, condominiums and
hotels. Additionally, there is an ideal site for a conference centre
and/or casino with a natural outdoor amphitheatre.

Proposed Features

• 2300 hotel rooms in exclusive five star hotels


• 2000 villas and town-home lots
• Luxury apartments
• Championship Golf Course
• 100-acre Commercial Centre

Key Highlights

• Proximity to Airport - Approximately 30 minutes from


the Sangster International Airport.
• 3.5 km of scenic ocean frontage ranging from white
sand beaches to majestic limestone cliffs.
• Approvals Granted - Subdivision and environmental
approvals have already been secure.

Incentives Available

• The Hotels (Incentives) Act provides income tax


relief and import duty concessions for up to 10
years for approved hotel enterprises, and 15 years
for convention-type hotels with 350 or more bed
rooms.

• The Resort Cottages (Incentives Act) provides


resort cottages with income tax relief for up to seven
(7) years and import duty concessions on imported
building materials and furnishings.

18
CREATIVE INDUSTRIES
JAMAICA TOURISM
INVESTMENT OPPORTUNITIES

NEGRIL PENINSULA
The Negril Peninsula Resort is a unique concept that
brings together the natural resources of Jamaica with
first class resources in leisure, technology and both
physical and spiritual well-being, to create a vacation
lifestyle experience.

This mixed-use development, to be constructed in four


phases, is consented for 1,202 residential units, three
hotels and a new marina to accept keeled yachts and
medium-sized ocean-going vessels. Additionally, five
new beaches will be created to complete this new
coastal destination.

The coastal shoreline of approximate-


ly one kilometre, which is fronted by the
Caribbean Sea to the south, will also accom-
modate the creation of five new beaches. For
sustainability, a substantial part of the lower ba-
sin has been earmarked for commercial life and
will see the establishment of office buildings,
retail areas, restaurants, sports and leisure
facilities. The development will also include a security • The Resort Cottages (Incentives Act) provides
centre and medical facilities, and will be completed in resort cottages with income tax relief for up to
four phases over a period of five years. seven (7) years and import duty concessions on
imported building materials and furnishings.
Key Highlights

• Proximity to Airport (Approximately


90 minutes to the Sangster International
Airport in Montego Bay).
• Great sunsets
• Seven miles of white sand beach nearby.
• Idyllic getaway
• Approvals Granted (Resort & Hotel Permits/
licences, Marina and Boat Yard Permit,
Planning Approval etc.)

Incentives Available

• The Hotels (Incentives) Act provides income tax


relief and import duty concessions for up to 10
years for approved hotel enterprises, and 15
years for convention-type hotels with 350 or more
bedrooms.

19
CREATIVE INDUSTRIES
JAMAICA TOURISM
INVESTMENT OPPORTUNITIES

GREEN CASTLE ESTATE


LOCATION: ST. MARY

Located on a 1,591 acre of prime real estate property near Annotto Bay (north
coast), 20 miles from Kingston, this project proposes the construction of high end
sustainable, eco-friendly accommodations. Of the 1591 acres, the initial plan indi-
cates construction on only 213-400 acres. The development will create a luxury,
low impact mixed used residential resort that will be environmentally, economi-
cally and socially sustainable.

Main features

• Beach hotel of 200 keys


• Luxury hotel of 150 keys
• Estate residences – 75 lots
• Beach Casitas (15)
• Hillside residences -40 lots
• Equestrian center

Key highlights

• Highway 2000 connectivity


• Close proximity to the Boscobel Aerodrome (St. Ann)
• Beachfront property spanning 2 miles on the coast of the Caribbean Sea

20
CREATIVE INDUSTRIES
JAMAICA TOURISM
INVESTMENT OPPORTUNITIES

• Proximity to the North Coast Highway

• Located approximately 15 minutes from recently


modernized Sangster’s International airport

• Proximity to other proposed major developments in the


area including an ultra luxury resort that will offer casino
gaming and is approximately 15 minutes away from the
location of the Lifestyle Village.

The estimated value of Investment required for this


project is US$63.5 mn

BARRETT HALL LIFESTYLE VILLAGE


LOCATION: ST. JAMES
Barrett Hall, a 429 acre site located approximately 15 miles from
Montego Bay, Jamaica’s tourism capital, was identified as a well
suited location for a retirement village. The site was chosen for sev-
eral reasons, including:
• Close proximity to the beach front (only 0.25 miles away)

• Nearby health facilities in Montego Bay

• Its gentle sloping view of the Caribbean sea

• The fact that it is only 20 minutes’ drive from Sangster


International Airport – one of the largest and most successful
airports in the Caribbean, with connections to a host of
destinations worldwide.

• Its proximity (5 miles) to the “Elegant Corridor” which hosts


premier resorts such as the Ritz Carlton, Half Moon Club
and Sandals Royal Caribbean

The advantages of investing in this project include:

• Jamaica’s close proximity to Florida, the third most popular


retirement destination in the United States

• The development of a new private hospital, the Hospiten Group,


which operates an international network of private hospitals
located in major cities and tourist towns in countries such
as Spain, the Dominican Republic and Mexico

21
CREATIVE INDUSTRIES
JAMAICA INFORMATION COMMUNICATIONS
TECHNOLOGY ICT)
INVESTMENT OPPORTUNITIES

BARNETT TECH PARK


LOCATION: ST. JAMES

Investment Type: Equity

Description: The Barnett Tech Park consists of 10 fully serviced lots within a 46 acre (18.6 Ha) gated
complex in the Fairfield area. The Tech Park is located on the western side of Montego Bay,
approximately 15 minutes from the Sangster International Airport, 5 – 10 minutes from major
hotels, restaurants and other leisure activities. It is approximately 8 – 15 minutes from the
various univer¬sities in St. James.

Stage of Investment
Readiness: Concept developed

Value of Investment: US$1.8 bn

Status: The principals obtained outline development approval from the local authority

22
CREATIVE INDUSTRIES
JAMAICA TOURISM
INVESTMENT OPPORTUNITIES

COTTON TREE BAY


Cotton Tree Bay is a short drive away from the casual, laid-
back resort town of Negril, which is famous for its seven-
mile beach strip. The new super highway between Montego
Bay and Negril gives easy access to the property, which
consists of approximately 200 acres. It boasts two miles
of waterfront starting at the eastern point of Green Island
Bay in the parish of Hanover and continuing east along the
northern coastline.

Some grooming and development of these beaches may


be necessary to bring out its optimum pristine beauty. This
desirable location has many possibilities, and it ideally suit-
ed for marina, resort and/or residential development, villas,
hotels, spa facilities, exclusive residential homes and riding
stables. • The Resort Cottages (Incentives Act) provides
resort cottages with income tax relief for up to
Its extensive coastline could offer various water sports from seven (7) years and import duty concessions
sailing, snorkeling and scuba diving to spear-fishing. The on imported building materials and furnishings.
turquoise water offers local flora, fauna and marine life.

Key Highlights

• Proximity to Airport - Cotton Tree Bay is a


50-minute drive from Montego Bay, but the
Negril Aerodrome has daily flights arriving from
the Sangster International Airport in Montego
Bay, which is 20 minutes in the air in each
direction.
• Great Sunsets
• Beach on property and nearby access to
Negril’s famed seven-mile white sand beach.
• Idyllic and secluded getaway

Incentives Available
• The Hotels (Incentives) Act provides
income tax relief and import duty concessions for up
to 10 years for approved hotel enterprises, and 15
years for convention-type hotels with 350 or more
bedrooms.

23
CREATIVE INDUSTRIES
JAMAICA TOURISM
INVESTMENT OPPORTUNITIES

LAUGHLANDS
This property is located in St. Ann, known as Jamaica’s garden parish. It is
immediately off the north coast highway and is 124 acres with sea frontage.
The property sits next door to the Chukka Cove polo grounds and boasts
two main spectacular beach locations.

It is also in close proximity to an air strip for light planes, which can be ac-
cessed by reservation. Laughlands, due to its location and pristine white
sand beach stretches, is well poised for high-end resort development.

Key Highlights

• Proximity to Airport - 1 ½ hrs from Sangster


International Airport

• Approvals Granted - There is an approved


development plan, which includes the construc-
tion of hotels, condominiums or any mixture of
residential uses.

• Extensive beach and cliff frontage

Incentives Available

• The Hotels (Incentives) Act provides income tax relief and


import duty concesions for up to 10 years for approved hotel
enterprises, and 15 years for convention-type hotels with 350 or more
bedrooms.

• The Resort Cottages (Incentives Act) provides resort cottages with


income tax relief for up to seven (7) years and import duty
concessions on imported building materials and furnishings.

24
CREATIVE INDUSTRIES
JAMAICA TOURISM
INVESTMENT OPPORTUNITIES

MAHOE BAY
This 38-acre property situated in Mahoe Bay, St. James, is
within a short distance from Sandals Cay, which is owned
by the Sandals Group, and 15 to 20 minutes away from the
Sangster International Airport by car.

Proceeding east to west, the coastline of the first third of


the site is very well protected by a wide coral reef that just
breaks the surface of the sea at roughly 300 feet out. Look-
ing west as the coral reef narrows and provides a natural
opening to the sea, the coastline recedes to form a double,
white sand crescent beach that offers a beautiful beach
front.

Three hotels have been identified for construction on the


property, two of which have been granted preliminary ap-
proval. Due to the proximity of the Sangster International
Airport, the recommended height for development is five
stories.

Key Highlights

• Proximity to Airport – Mahoe Bay is 15 to 20


minutes from the Sangster International Airport.

• Beautiful white sand beach front

• Approvals already granted for time share and


hotel construction.

Incentives Available

• The Hotels (Incentives) Act provides income tax


relief and import duty concessions for up to 10
years for approved hotel enterprises, and 15
years for convention-type hotels with 350 or more
bedrooms.

• The Resort Cottages (Incentives Act) provides


resort cottages with income tax relief for up to
seven (7) years and import duty concessions on
imported building materials and furnishings.

25
CREATIVE INDUSTRIES
JAMAICA TOURISM
INVESTMENT OPPORTUNITIES

MOSQUITO COVE
Mosquito Cove, a unique property equi-distant between
Hopewell and Lucea in Hanover, is an ideal property for a
marina and hotel development. The cove is protected by a
reef, but allows easy access to yachts entering the calm,
protected bay.

The 71-acre property is located on the eastern side of the


bay and is north of the highway from Montego Bay, Jamai-
ca’s second city.

South of the highway, approximately 200 acres of land rises


gently and can be developed into a golf course. The west-
ern side of the land is 14 acres and has a small white sand
beach. The owners will sell parts of the property that bear a
number of different land titles.

Key Highlights

• Proximity to Airport – Mosquito Cove is


40 minutes from the Sangster International Airport.
• Beach on property.
• Excellent prospects for marina and hotel
development.

Incentives Available

• The Hotels (Incentives) Act provides income tax


relief and import duty concessions for up to 10
years for approved hotel enterprises, and 15
years for convention-type hotels with 350 or more
bedrooms.

• The Resort Cottages (Incentives Act) provides


resort cottages with income tax relief for up to
seven (7) years and import duty concessions on
imported building materials and furnishings

26
CREATIVE INDUSTRIES
JAMAICA TOURISM
INVESTMENT OPPORTUNITIES

SAN SAN
The San San Estate is one of the few remaining pristine
properties in Jamaica where there is an opportunity for high-
end resort development. The property is located in Portland
on the eastern end of the island and sits on a total of 600
luxurious acres. On the property, the scenic San San Bay
consists of 10 acres with unsold villa lots and an 18-hole
golf course. There is a significant portion of the land that is
not yet developed, which offers exciting potential for villas,
a hotel and the maximisation of the golf course.

Key Highlights

• Proximity to Airport - Approximately 2


½ hrs by road or 20 minutes by air to the
Norman Manley International Airport (NMIA)

Incentives Available

The Hotels (Incentives) Act provides income tax relief and


import duty concessions for up to 10 years for approved
hotel enterprises, and 15 years for convention-type hotels
with 350 or more bedrooms.

The Resort Cottages (Incentives Act) provides resort cot-


tages with income tax relief for up to seven (7) years and
import duty concessions on imported building materials and
furnishings.

27
CREATIVE INDUSTRIES
JAMAICA TOURISM
INVESTMENT OPPORTUNITIES

WHITE BAY
White Bay, ideally located close to Falmouth, Trelawny on
the north coast of the island, is a superb beach front prop-
erty with access to the new North Coast highway.

Permission for resort development of 30 villas and 40 cot-


tages, or a small hotel with the equivalent rooms has been
granted and could be increased subject to the requisite ap-
provals being granted. Due to the fact that there are no riv-
ers nearby, the water is crystal clear. The topography of the
land allows for villas to be built behind the beach and, as the
land rises, all villas can have a sea view.

The main white sand beach in the western section is ap-


proximately 1,200 feet. The eastern section is roughly 2,000
feet half of which is rocky cliffs. Construction can begin at
White Bay immediately.

Key Highlights

• Proximity to Airport – White Bay is 30 minutes from


the Sangster International Airport.
• Beach on property.
• Approvals granted for resort and small hotel
development.

Incentives Available

• The Hotels (Incentives) Act provides income tax


relief and import duty concessions for up to 10
years for approved hotel enterprises, and 15 years
for convention-type hotels with 350 or more
bedrooms.

• The Resort Cottages (Incentives Act) provides


resort cottages with income tax relief for up to
seven (7) years and import duty concessions on
imported building materials and furnishings.

28
JAMAICA
INVESTMENT OPPORTUNITIES

DIVESTMENT PROJECTS

29
CREATIVE INDUSTRIES
JAMAICA TRANSPORTATION
INVESTMENT OPPORTUNITIES

NORMAN MANLEY INTERNATIONAL AIRPORT


& SELECT GOJ AERODROMES
LOCATION: KINGSTON
Investment Type: Public Private Partnership

Description: NMIA is a one of two international air


ports in Jamaica. The existing concession
at NMIA is for a period of 30 years commenc-
ing October 2003. The divestment of NMIA
is being packaged to include the expansion
and development of other government owned
aerodromes including Negril, Boscobel, Ken
Jones, Vernamfield and Duckenfield

Stage of Investment
Readiness: Concept developed/ Pre-divestment
and Data Collection

Value of Investment: The value of Investment required is to be


determined.

Status: Technical, Market and Environmental Studies to


be done.

30
CREATIVE INDUSTRIES
JAMAICA AGRICULTURE/AGRO-PROCESSING
INVESTMENT OPPORTUNITIES

WALLENFORD COFFEE COMPANY LTD (WCCL)


LOCATIONS: KINGSTON, CLARENDON, ST. CATHERINE,
ST. ANDREW, PORTLAND, ST. ELIZABETH AND ST. CATHERINE

The Wallenford Coffee Company is one of the largest licensed processors and exporters

of Jamaica Blue Mountain Coffee. The company is vertically integrated and is involved in

the purchasing, growing and processing components of the business process. Its Coffee

Farms are located in Kingston, Clarendon, St. Catherine, St. Andrew, Portland, St. Elizabeth

and St. Catherine. The Government of Jamaica is seeking investors who will undertake the

financing, development, operation and management of the WCCL.

The Company has assets valued at over US$20 million and has revenues of over US$7 mil-

lion per annum in recent years.

MAVIS BANK COFFEE FACTORY LTD. (MBCFL)


LOCATION: MAVIS BANK, ST. ANDREW

The Mavis Bank Coffee Factory, MBCF, is Jamaica’s largest and only fully integrated Jamaica

Blue Mountain® Coffee facility. The factory produces a diverse line of authentic 100% Ja-

maica Blue Mountain coffee sold under the Jablum brand and includes Blue Mountain Cof-

fee (roasted beans), Instant Coffee and Liquid Coffee Beverages. Approximately 1.4 million

pounds of green beans from over 6000 farmers are processed at the factory annually. The

Mavis Bank Coffee Factory Limited has had sales revenue over the last few years ranging

between US$8 million and US$11.6 million per annum.

31
CREATIVE INDUSTRIES
JAMAICA REAL ESTATE
INVESTMENT OPPORTUNITIES

THE OCEANA BUILDING


LOCATION: DOWNTOWN, KINGSTON
Investment Type: Equity

Description: The Oceana Building, formerly


a 200 room Oceana Hotel,
comprises of 12 floors located
on the scenic Kingston waterfront.
The building covers 222,129.44 sq. ft.

Stage of Investment
Readiness: The project is ready for investment

Value of Investment: Valuation available

Status: Expressions of interest requirements


include: business plan, physical plan,
financials, and other

THE OFFICE CENTRE BUILDING


LOCATION: DOWNTOWN, KINGSTON
Investment Type: Equity

Description: The Office Centre Building comprises


of 12 floors with office spaces
located on the scenic Kingston
waterfront. The building covers
222,880 sq. ft.

Stage of Investment
Readiness: The project is ready for investment

Value of Investment: Valuation available

Status: Expressions of interest requirements


include: business plan, physical plan,
financials, and other.

32
CREATIVE INDUSTRIES
JAMAICA TOURISM
INVESTMENT OPPORTUNITIES

FONT HILL
LOCATION: ST. ELIZABETH

The Font Hill property which comprises 1,054.5 hectares is


located on the south coast of Jamaica, approximately 8 km
west of Black River, in the parish of St. Elizabeth. The property is
owned and operated by the Petroleum Corporation of Jamaica
(PCJ) a statutory corporation and an agency of the Ministry of
Energy and Mining and is being zoned to facilitate development
in the areas of Agriculture, Tourism, Port & Logistics Facilities.
The Font Hill property has a unique and diverse ecosystem in
the wetland area. It is home to several protected, endemic and
rare species of wild life. It boasts a wide variety of endemic bird
species, turtles, crocodiles, indigenous plants and an extensive
mangrove wetland.

The land is constantly being developed by the PCJ. Studies have


been conducted for agriculture fuel wood pilot project, plans
drawn up for forest reserves, wildlife sanctuary and resort/resi-
dential and public beach park.

Land Features

• Pockets of white sand beach

• Approximately 7.5 km of beach frontage

• Limestone hill

33
CREATIVE INDUSTRIES
JAMAICA
INVESTMENT OPPORTUNITIES

For further information on these


investment projects, contact:
Claude Duncan
V.P. Investment Promotion
JAMAICA PROMOTIONS CORPORATION

18 Trafalgar Road
Kingston 10, Jamaica
T: 1 876 978-3337 ext. 2201
F: 1 876 978-0140
E: cduncan@jamprocorp.com

34
CREATIVE INDUSTRIES
JAMAICA
INVESTMENT OPPORTUNITIES

NOTES

35
CREATIVE INDUSTRIES
JAMAICA
INVESTMENT OPPORTUNITIES

NOTES

36
HEAD OFFICE
18 Trafalgar Road
Kingston 10, Jamaica W.I.
Phone: +1 876 978 7755; 978-3337
Toll Free: +1 877 INVESTJA (468 4352)
Fax: +1 876 946 0090
email: info@jamprocorp.com

NORTH AMERICAN REGIONAL OFFICE


303 Eglinton Avenue East, 2nd Floor
Toronto, Ontario, M4P 1L3, Canada
Tel: 416-932-2200 (main) 416-598-3008
Fax: 416-932-2207
Toll-Free: 1-877-744-2208
E-mail: rkerr@jamprocorp.com

LONDON OFFICE
JAMPRO / Jamaica Trade Commission
1 Prince Consort Road,
London SW7 2BZ, England
Phone: + 44 20 7 584 8894
Fax: + 44 20 7 823 9886
email: jamprouk@jamprocorp.com

You might also like