Realty Check

Pan Jamaican Investment Trust, the Facey family-controlled conglomerate engaged in property development and investment, has secured prime real estate in New Kingston from the Jamaican government on which the listed firm is expected to develop a hotel and other commercial ventures. Pan Jam will pay J$454.5 million for the 161,610 square footage in an area [...]

NHT introduces new housing initiatives Thursday, September 10, 2009 PAID-UP contributors interested in owning a National Housing Trust (NHT) unit will no longer have to struggle to find a deposit, under one of five new initiatives that the institution rolled out yesterday aimed at making homeownership more affordable. Senior NHT officials, who made the announcement [...]

By Julian Richardson Friday, August 28, 2009 Principal and executive chairman of Gore Developments, Phillip Gore, called on Government to double the National Housing Trust (NHT) loan ceiling to $7 million. The NHT currently offers loans of up to $3.5 million at annual interest rates of between two and eight per cent to individuals who [...]

The Real Estate Board (REB) is getting tough on persons who break the law with the arrest of four last month and the removal of 18 names from the register of real-estate dealers and real-estate salesmen. Sandra Watson, REB general manager, told Sunday Business that the board has been in enforcement mode since April, when [...]

Published: Sunday | August 23, 2009 Apartment owners and other shared-space dwellers will be saddled with bigger monthly bills if the draft legislation as it is now crafted were to be passed by lawmakers, the Trafalgar Council is charging. The council, which represents the interests of residents in Seymour Lands, New Kingston, Trafalgar Park and [...]

Real estate mogul Gordon Tewani has purchased the Fairview Shopping Centre in Montego Bay from the Cable & Wireless Jamaica (C&WJ) Pension Fund for over $600 million, according to the fund’s chairman Derek Jones. “The financial details will emerge in due course, but the market value of the property was $600 million. The transfer price [...]

Wednesday, August 12, 2009 LONDON, England Britain’s housing market is slowly stabilising, though activity is still low compared to previous years due to the recession, industry bodies said yesterday. The Council of Mortgage Lenders said gross mortgage lending in the United Kingdom rose by 23 per cent in June compared to the previous month but [...]

BY Alicia Dunkley Observer staff reporter dunkleya@jamaicaobserver.com The Government yesterday made another attempt to stimulate Jamaica’s flagging real estate market by moving the original January 1, 2010 implementation date for the further reduction in stamp duty and transfer tax fees to August 1 this year. In May of 2008, the administration announced that Stamp Duty [...]

Avalon Court sits on a strip lined with expensive real estate, shared by commercial and residential investors alike. But Avalon is distinguished, to the chagrin of the people who manage the strata corporation, by its obvious deterioration and lack of proper maintenance, on the same street that is home to the historic Devon House and [...]

Faced with a tight credit market, the Housing Agency of Jamaica (HAJ) has turned to National Housing Trust to pony up 80 per cent of the financing for two new developments to be executed this year, under a deal that is worth about $640 million based on the estimated $800 million price tag on the [...]