MoneyMasters Limited through its newest subsidiary MoneyMasters Real Estate & Infrastructure Investments Limited (MMREIF) is set to invest close to $3 billion in the Reading Pen, Montego Bay, development.

The Reading Pen project is being done in partnership with popular Montego Bay developers Concept Homes, and marks the second phase of real estate and infrastructure partnership between both entities following the recent development of a luxury 18-apartment property completed well ahead of its 2022 scheduled date.

With Montego Bay, the second city, being considered a strategic connectivity hub, boasting modernised and attractive amenities and ripe for development, MMRIEF is targeting the area as it moves to fund most of the major development projects that will emerge over the next five years.

The subsidiary company launched last year after a private placement of shares is led by former mortgage banker Dr Patrick Thelwell and was created to offer financing solutions for large infrastructure and real estate projects across the island.

At a meet-and-greet event last weekend hosted by Kevin Rose Green, chief developer of Concept Homes, and Claudette Crooks, president of MoneyMasters, potential investors and new homeowners were welcomed to a first viewing of the development.

“MoneyMasters Real Estate & Infrastructure Investments Limited is no stranger to this market. We take pride in supporting the development of Montego Bay, which is seen as the next frontier to development in Jamaica through our close to $3-billion real estate investment in the project,” Crooks said of her company’s partnership in the new venture.

“We are keeping our promise to shareholders while, at the same time, making a meaningful contribution to the long-term growth and development of the Jamaican economy,” she added.