JAMAICAN Teas Limited (JAMT) has bought Orchid Estates in Yallahs, St Thomas, and aims to have 29 two-bedroom houses on the market by the end of the first quarter of next year.

Almost a decade ago the Jamaica Mortgage Bank (JMB) approved the development of 75 lots for the construction of two-bedroom residential units, contained in a published a list on their website of portions of land for sale by private treaty in 2004.

The previous developers had financial constraints and discontinued the construction.

Only 29 units were completed and purchased, but were vandalised over the years because no one lived in them, said John Mahfood, the chief executive officer of Jamaican Teas.

Now, H Mahfood and Sons Limited, a subsidiary of JAMT will begin redeveloping those homes in October and begin building another 42 houses in March next year.

Under phase one of the development, the roofs, bathrooms, kitchens of damaged properties will be repaired, Mahfood told the Jamaica Observer.

While phase two will see the other units being built from scratch, taking a much longer time to finish.

“Those will be made available for sale in the latter part of 2014,” said Mahfood.

JAMT bought Orchid Estate for $63 million, and is looking to sell one of the two-bedroom units that are being redeveloped, which includes a bathroom, kitchen, living area, and a porch, for $6.5 million.

“There is a demand for housing in that price category so I think there will be interests,” he said.

Furthermore, some members of the working class have access to the National Housing Trust’s (NHT) mortgage facility and their salaries can help them access loans even from other institutions, Mahfood reckoned.

The CEO noted that, in previous years, Yallahs was difficult to access, especially during the rainy season, but the construction of a bridge by the Government has made travelling to and from the area much easier.

“People can travel 40 minutes to downtown, and that is comparable to Portmore, which has seen a reduction in affordable houses,” Mahfood said. “People have now bought property as far as Old Harbour.”

Earlier this year, H Mahfood & Sons Limited sold all the units of its first real estate project, Carmen’s Court.

Billed as charming, contemporary and ideal for property virgins and investors, the gated community on Kingsway offered 18 super studios.

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.