Barita Investments Limited has signalled that its real estate portfolio is on the verge of getting at least two of its planned developments off the ground, as the company continues its push to unlock growth across all pillars of its diversified business.

Speaking at its recent investor briefing, CEO Ramon Small-Ferguson said the company has made significant strides in moving from the acquisition phase to the development stage — a transition that he said has also been marked by the achievement of several key milestones.

Through MJR Holdings, a company acquired in 2022 by its Barita Unit Trust Real Estate Portfolio, it now owns close to 2,000 acres of land which consist of locations such as Reggae Beach and Green Castle in St Mary and Eden Gardens in St Andrew.

“Having concluded the acquisitions, we’re now at the planning phase. Real estate takes a lot of work to put things together given the complex nature of some developments, the approvals process and also in bringing concepts to a stage where they can actually be developed,” Small-Ferguson said.

Intentional from day one about securing the right talent to lead its real estate portfolio, the CEO said a suitable person has been identified.

“We’ve made progress with respect to talent and planning and we’ve also put together funding plans for some these developments. As such, subject to us concluding all approvals — we will be building in financial year 2026 and we’ve already identified at least two sites that we expect to be out of the ground with respect to that portfolio,” he further said, while noting that there are currently eight properties in the portfolio which equates to some seven sites.

“We expect major activities in relation to the two mentioned and we also have another two on which we will make conclusions about by the tail end of next year,” he added.

Following the softening of activities in the real estate market over the last few years, the company had sought to halt previous efforts to bring some of these planned projects on stream. Among these are the development of a warehouse and a mixed-use complex that is to be used for both residential and commercial purposes.

Speaking to other opportunities on the horizon, the CEO said acquisitions and strategic partnerships remain a big part of the company’s focus.

“Given the scale of the business, a big part of us achieving meaningful growth over the course of the next five years or more, we will need to figure out how we acquire or combine aspects of our business and as such we continue to look out with eyes wide open for those types of opportunities. In this market, we are trying to position ourselves to be at the table for all possible conversations. Regarding strategic alliances we’re looking at those in a few forms, one of which is the sourcing of a qualified referee that can actually introduce and connect us to leads that are likely to transact. This has been a general feature of our business but we’ve translated it to become a much more structured one and dedicated channel,” Small-Ferguson said.

Following its new concluded reorganisation efforts which have been heavily centred on customer centricity, the company’s management has also prioritised the build-up of its capital base as a critical block of its future growth plans.

Recently raising over US$20 million from a historic multi-tranche Jamaica Stock Exchange (JSE) listed bond, the company likewise said that these and other initiatives aim to provide it with a higher level of liquidity needed to fund much of its growth ambitions.

Despite the challenges posed by underlying fragilities stemming from unsettled trade policy, uneven disinflation, the company said that the relatively accommodative posture of the global financial environment allowed it to remain tactical as it moved to optimise its revenue mix.

For the nine-month period ended June 30, 2025, Barita reported net operating revenue of $6.3 billion, reflecting an 11 per cent year on year decline. Net profit also fell to $2.2 billion, a drop driven largely by reduced real estate-related revenues which saw higher revaluation gains in the prior year. On the other hand, Barita’s traditional business lines outside this portfolio continued to demonstrate resilience manifested by a $1.5 billion or a 32 per cent year-over-year growth.

“With inflation now largely anchored and foreign exchange stability maintained, we’re seeing more predictable conditions,” said Richardo Williams, head of investment, research and strategy. “This environment supports our carry strategies, reduces exposure to value-at-risk shocks — especially in treasury and trading — and bolsters inflows in our asset management business. It also helps to maintain relatively stable net interest income spreads.”

Richardo Williams (left), head of investment, research and strategy, and CEO Ramon Small-Ferguson respond to questions during a virtual investor briefing last Thurday.