Ribbon cut for long-awaited start of US$1-billion Harmony Cove resort project
TRELAWNY, Jamaica— Prime Minister Dr Andrew Holness this afternoon cut the ribbon for the start of the long-awaited US$1-billion Harmony Cove resort project in Trelawny, as developers Nexus Luxury Collection, reiterated that they will offer Jamaicans an opportunity to invest in the mega development through an initial public offering (IPO).
“One of the things we’re committed to doing is an IPO. So IPO is an initial public offering. So after the project gets constructed, we will allow, and we want it to be focused on Jamaican citizens, not big institutions, where they will be able to buy shares in Harmony Cove. It could be a small amount, US$1,000, US$5,000, US $10,000,”Christopher Anand, managing partner of Nexus Luxury Collection, said during the official ribbon-cutting ceremony on the site of the development in Duncans, Trelawny.
“But here’s the other part of it. We want our best customers to be Jamaicans. We want our best shareholders to be Jamaicans,” he added.
The project was conceptualised two decades ago.
Prime Minister Holness disclosed that government did not give up more than it had to, for the project to become profitable.
– Horace Hines
