WIHCON Properties Limited
WIHCON Properties Limited (WPL) is a member of the ICD Group of Companies. The company was incorporated in 1964 under the name Construction and Dredging Limited. The current name, WIHCON Properties Limited, was registered in December 2005.
Within the Group we believe we are experts in all aspects of real estate, including management, construction and sales. Since 1958 the Group has built Harbour View, Mona Heights, Duhaney Park, Hughenden, Newport West, Greater Portmore and an estimated 80 percent of Portmore. More recent developments include The Aviary in Old Harbour, Eltham Vista in Spanish Town, Rosevale Estate in St James, Manley Meadows in East Kingston, and Portmore Country Club.
Our registered address and principal operating office is located at 7- 9 Harbour Street, Kingston.
WPL is structured to offer specialized property management services. We manage and/or own more than 1,400,000 sq. ft. of real estate throughout Jamaica, with more than 250 tenants. The Board of Directors and our Senior Officers have extensive and successful experience in many aspects of real estate, including strategic and operational management, accounting, investment, construction, design and financing. These diverse skills and years of experience are routinely available in the decision-making process. Recommendations made to our clients to maintain and improve the value of their real estate investments are subject to the critical review of our Executives and Directors.
WPL’s property management services include, but are not limited to:
Real Estate Investments
- Make recommendations on capital upgrades with the appropriate analyses to support the recommendations.
- Recommend the purchase of real estate.
- Project management including the coordination of the design, approval and construction.
- Monitor the quality and the costs of capital expenditures, as well as routine maintenance, to ensure the quality of the work being performed is in accordance with established industry standards and costs.
- Evaluate real estate holdings and recommend the optimal use of these assets, which may include sale, upgrade, change of use and/or density.
- Prepare corporate real estate plans in accordance with the policies and mandates of the clients.
- Preparation of budgets in accordance with the guidelines established by the owners.
- Arrange and provide input for the annual financial audit.
- Financial “year-end” may be set by the property owners. Annual reports will be generated at that time.
Maintenance & Conservation
- Periodic evaluation of energy consumption and development of conservation measures.
- Prepare the annual operating budgets.
- Pay recurring expenses on a timely basis.
- Coordinate with real estate professionals such as engineers, architects, appraisers and contractors.
- Identify opportunities to reduce maintenance costs and thereby improve returns to property owners and lower costs to tenants.
- Ensure that properties are maintained in an optimal state of repair.
- Arrange and supervise the provision of common services such as security, landscaping, janitorial, garbage collection, etc.
- Lease properties in accordance with the approved guidelines and coordinate the preparation of the leases.
- Monitor compliance with the terms of the leases.
- As a result of the desire to improve our administrative systems and processes, in recent years we have undertaken a major reorganization of the company that includes procedures, policies and technology. WPL has devoted considerable financial and human resources to implement new property management and accounting technology. Among the benefits from these changes are:
- Significant improvement in the efficiencies of our property management administration and accounting functions.
- Allow our clients “real-time” access to selected records relating to their portfolio.
- Enhance our ability to monitor and analyze accounts payable and the charges submitted by providers.
- Automate accounts payable and generate the cheques.
- Automate the preparation of reports and financial forecasts.
- Reduce the time required to produce periodic financial and management reports to our clients.
- Increase the automation of the billings, preparation of invoices and the tracking of receipts.
- Reduce the possibility of errors caused by manual interfaces.
- Significantly improve access to the terms of contracts and leases.