The chief executive officer (CEO) of the Dream Developers is promising that their latest project, the $1.5 billion Dream 36 housing development in the upscale Ironshore, St James area, will be on par with similar residential developments in First World nations across the globe.

According to Manoj Ramchandani, in developing the project, several factors were taken into account, such as security, space, comfort, entertainmen,t and so on.

In the end, with the expertise of building engineers, it was decided to create a high rise structure which will be of the same high standard of similar developments in Miami, Dubai and other First World locations.

“We have been involved in the real estate industry for some time and we have observed internationally and locally what is happening in the residential market. We saw First World developments happening around the world where people are enjoying comfortably, safely and they are excited about where they are living in First World type amenities, First World developments,” Ramchandani said while speaking at the launch of Dream 36 at the Riu Hotel in Montego Bay last week.

He also noted that it was noticed that high rise buildings were trending in Kingston, so it was not difficult to replicate the trend in Montego Bay.

“We saw the trend taking off in Kingston, where lots of high risers coming up now. With the trend starting to take shape in Kingston we thought to ourselves why can’t we invest and create a First World type building in Montego Bay? What would it take, would it be too expensive to build a building that would rival First World developments in Miami, Dubai, or so on? Is it that it being expensive is what made it a First World and comfortable place to live?” he argued.

In providing a project overview, Ramchandani said the development will entail six two-bedroom and 24 one-bedroom apartments, and six three-bedroom penthouses; a movie theatre; a rooftop Jacuzzi; bar/coffee lounge; and ample parking for homeowners and guests, adding that the project is slated for completion in time for next Christmas.

He also indicated that the latest housing project will be of the same high standard of the renown, Dream Auto of the Dream Developers.

The Dream Developers CEO argued that with the hotel room stock projected to increase further in St James, middle- and high-income managers will have the opportunity to buy into Dream 36, which overlooks the sea and is in close proximity to the elegant corridor.

Minister of Security, Dr Horace Chang, who is also Member of Parliament for St James North West, lauded the developers of the Dream 36 housing project for helping to drive development in Montego Bay.

“What this tells you is that there are high-quality, bright Jamaicans in Montego Bay laying the foundation for strong future development for (the city) and this event signals that,” Dr Chang stated.

The “Dream Team” comprises developers – Dream Developers; contractors – ZDA Consturction Ltd; architects – Virtuoso Architect; structural engineer – Evon Hall; MEP engineer – Synergy; quantity surveyors – Michael Allen and Associates; attorney at law – Silvera and Company: commissioned land surveyor – Gilpin McFarlane and Associates; brokers – Remax Elite, Coldwell Banker, Howard Johnson, BHG, Sarah Ottey, Keller Williams, Millenium Properties; and financiers- Victoria Mutual.