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Kgn Properties, Cemex sign $700-m housing deal


KINGSTON Properties Limited has inked a $700-million deal with Cemex Jamaica Limited for the construction of 105 houses in Westmoreland by 2017.

The project, which is expected to take place in Waterworks, Westmoreland over 20 acres of land, will comprise primarily two-bedroom houses costing roughly $9 million per unit.

Both companies have already begun planning the construction of the project to ensure it meets the target date.

“The project is a part of our portfolio, but beyond that when we did our market analysis, western Jamaica has a focus on the tourism sector and this has resulted in a great demand for affordable housing down there,” executive director of Kingston Properties Fayval Williams told the Jamaica Observer.

Published in the Observer
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