Jamaican Teas reports real estate sell-off
H Mahfood & Sons Limited, a subsidiary of Jamaican Teas Limited, announced this week that all the units of its first real estate project, Carmen’s Court, have been sold out.
“Fifteen of the units were sold in one weekend and the remaining three are spoken for”, according to John Mahfood, managing director of Jamaican Teas, who believes that the development was a big winner because it had great timing, is quality real estate in a great location and is affordably priced at $10.5m to $11.9m.
Billed as charming, contemporary and ideal for property virgins and investors, the gated community on Kingsway offered 18 super studios of approximately 630 sq ft, with added features of private parking, a water tank and generator.
Jamaican Teas, which listed on the Jamaica Stock Exchange in 2010, has plans for future real estate projects, as well as growth in its supermarkets and consumer brands of Tetley Teas, Caribbean Dreams and Jamaica Blue Spring water products.