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KPREIT Plans Second Residential Development

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Kingston Properties Limited (KPREIT) has acquired new property in western Jamaica for a housing development intended to place 100 homes on the market.

The new project is a separate venture from the previously disclosed investment in Waterworks, Westmoreland, in 2012 when the company announced that it was testing the residential real-estate market.

The land now held for development – valued at $18.5 million – was noted in the company’s 2013 financial report, though KPREIT says it is “too early to divulge intricate details” of the development.

Published in The Gleaner
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