Sagicor Real Estate X Fund Ltd (the X Fund), a subsidiary within the Sagicor Group, disclosed this week that it has bought more land on the north coast for development.With $44.4 billion in assets, the real estate fund is one of the largest investors in the Jamaican commercial and tourism real estate market.
Other new projects include a hotel and a commercial mall in the centre of the island, which are both at advanced stages of upgrade and close to opening.
Through its Sigma Real Estate portfolio, the group said it bought lands in Cardiff Hall, Runaway Bay in October 2016 for US$600,000; and lands in Palm Beach, St Ann, in the same month at a purchase price of US$500,000.
It also completed the acquisition of 126 units at the Jewel Grande in October 2016, which increased the Group’s overall investment in the condominium resort development.
Published in the Jamaica Observer
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