Pulse Investments Limited, headed by Kingsley Cooper is all set to unveil a development project which will transform the nine acre estate that is Villa Ronai, located on Old Stony Hill, St Andrew into one of the country’s leading entertainment/hospitality complexes. Pulse has gained a reputation as the Caribbean’s leading model agency producing world renown models such as Lisa Hanna, Nadine Willis, Kimberly Mais and Jaunel McKenzie. It owns and operates the franchise Caribbean Fashion Week (CFW) and its spin-off television shows which are broadcasted across the region and the Diaspora. Over the last few years the company has been re-organised, has relisted on the Jamaica Stock Exchange (JSE) and continues to register steady growth.

Although known for its entertainment expertise, very little is known of its real estate holdings. It holds prime real estate on Kingston’s Trafalgar road which houses its headquarters, retail outlets, the bar and nightclub Studio 38 and a storage facility. It also has the Versailles-like property, Villa Ronai, a prized piece of real estate which Cooper has planned to develop for a many years as a multi-purpose complex that would attract the more discerning patron. He is getting closer to realising his dream.

Villa Ronai will be marketed with the tag line, “A world of timeless beauty,” and with its lush botanical gardens, outdoor gallery of original sculptures and mosaics as well as waterfalls and ponds the description is apt. It was first developed by the Ronai family who came to Jamaica from Hungary in the late 1940s. Arpad Ronai was the Belgian Consul General to Jamaica, but it was his wife Anna, her mother and her daughter who created the art and aesthetics found at the property. In the fifties and sixties the property would attract as many as 1,000 visitors a day, mainly from the cruiseships.

In the nineties Cooper purchased the nine-arce property by now dilapidated, run down and covered by thickets. He was entranced by its beauty and aesthetics and harboured ambitions to transform it into a venue for entertainment related shows. He set about making it so but it would take some time and putting Pulse on a sound financial footing would occupy his energies.

Today, Villa Ronai is home to three businesses, the Japanese restaurant Majestic Sushi & Grill, the Ashanti Vegetarian Restaurant and a yoga centre which is now operational. All three units will be operational by the first quarter of last year. Pulse is close to concluding lease agreements on three other units. Yet to come on stream are plans for a wine bar, day spa, lounge, boutique, cafe and a patisserie. Villa Ronai will also house 50 upscale suites and a conference retreat centre.

Speaking with Caribbean Business Report from the Courtleigh Hotel in New Kingston yesterday,Cooper said: “We had a writes issue about three years ago which allowed us to raise financing for this project. We have planned an official opening for sometime over the next six months. We will now look to add a world class destination spa which hopefully will attract people from around the world. Villa Ronai will also contain 50 suites where people can come and stay on the property.”

Taka, who is responsible for the Japanese restaurant, East in Marketplace will operate and run Majestic Sushi & Grill.

“For the few past years, I have been visiting Tokyo, New York and Miami to study both authentic and modern Japanese cuisine. Majestic Sushi & Grill is a very stylish and modern Japanese restaurant which offers high grade Japanese food located in the most prestigious and exclusive setting of Villa Ronai,” said Taka.

Majestic Sushi & Grill and Ashanti Oasis Vegetarian Restaurant are expected to open their doors to the public by Easter of this year. A third restaurant is also on the drawing board and so to is a fitness centre.

The whole setting reminds one of a Mayan rainforest yet it is five minutes away from Manor Park with Cherry Gardens, Stony Hill and Norbrook in close proximity. The property can accommodate a hundred parked vehicles and is perfectly located. Efforts are well underway to get the roads of Old Stony Hill into better condition which bodes well for Villa Ronai.

Pulse is well into Phase One of its development plan with twelve retail units providing an additional income stream from rentals.

“The whole idea is to make the facility consistent with the market we are targeting. As it stands now our rental income is about J$25 million a year. When Villa Ronai become fully operational with all the units up and running that should increase to about J$70 million a year. This year alone should see rental income of around J$40 million. This makes a huge difference for us because it means that this is now money we can put into development and plough back into the business. It also means we now have a level of investable cash.

“Pulse now has very little debt, great assets and products and proven systems of income generation. When you add this extra cash into the equation you now can make your dividend payments more meaningful,” said Cooper.

After Phase One of the development is completed and factoring the value of the land, Villa Ronai’s estimated value will be placed at around J$458 million. On completion of Phase Two due to be completed in three years time and with an additional 43 suites and further amenities and external works that figure should be raised that to around J$670 million (US$7.9 million).

The CEO and Chairman of Pulse has managed over the last few years to transform his company for the better where it no longer relies solely on modeling and entertainment – that is just one part of the equation. It now offers a balance of a real estate proposition on the one hand and intellectual property on the other with the potential to take its brand global. Villa Ronai was developed with no debt. Sixteen years later, Villa Ronai is fully operational and has evolved into a noteworthy income generating business, a far cry from those days of Arpad Ronai.