A strong mix of locals residing overseas and other international buyers have been leading the 65 per cent take-up for the first of the multi-tower, 28 storey Pinnacle housing development being built along the Reading Peninsula in Montego Bay, St James.

The first phase of the project, timed for completion by 2027/2028 is now deep in the construction phase, with 23 floors of the first tower already in place while other parts of the landmark project is expected to undergo significant framing by year-end.

Speaking to the Jamaica Observer during a tour of the site this week, CEO of LCH Developments Yangsen Li expressed satisfaction with the pace of construction and the strong market response seen for the project.

“For the first tower we have so far sold out 65 per cent and we expect that by early next year the remaining 35 per cent will also be sold out. Interest for the units remains pretty strong and so far we have been getting good support from the Jamaican Diaspora as well as some other international buyers,” he told the BusinessWeek.

“Some of these purchasers have been buying the units for their homes while others are acquiring them for use as vacation property,” Li added.

The Pinnacle, which continues its ascent in becoming one of the tallest buildings on the island, is also lined up among the most-sought-after addresses in the Caribbean. The landmark development, built within the Montego Bay Reserve, carries a price tag of US$450 million. Prices range from US$600,000 for a one-bedroom dwelling up to US$900,000 for a three-bedroom space. Prices for the four and five bedroom units are however said to be made available on request.

Pinnacle’s Tower 1 set to house some 141 residences, comprises of one to five bedroom units ranging from approximately 979 square foot sanctuaries to 5,000 square foot. Each unit boasts modern, high-end finishes, including 9.5-foot ceilings and hurricane-resistant windows and doors. A fully furnished model unit on the third floor is already complete and being used to showcase the development to potential investors.

The building is designed by local architect Isiaa Madden and is being developed by LCH Development Limited in partnership with Accor/Ennismore, two globally recognised lifestyle and hospitality companies. On completion, the development will feature four distinctively designed towers bearing 351 luxury residencies, 12 private villas, and 266 key branded hotels. Other amenities include cabanas, swimming pools, gym, play areas, spa facilities, a mini marina and helipad and a curated community space at the Pinnacle Centre which is to house a grocery store, pharmacy, juice bar, café, and other retail outlets.

Its design also integrates sustainable design elements, including rainwater harvesting systems and solar energy infrastructure.

While Tower 1 is reserved for full-time residential owners, Towers 2, 3, and 4 will be branded hospitality residences. These units will participate in a rental programme managed by Accor, giving owners access to the company’s global membership network and a competitive 50/50 revenue-sharing model based on gross room income.

“There is no Airbnb of any unit at The Pinnacle. Tower One owners are our residential owners and may lease their units’ long term. Long-term rental is defined as the rental of a unit for a period of six months to one year or more,” the development’s website stated.

“Tower 2 and 3 are our investment which will be managed by an international operator. Your units will be placed in a rental programme with the operator. This programme allows for the rental of your unit through its marketing endeavours and its membership pool of millions of individuals worldwide. The unit owner and the operator will share the profit realised from the rental endeavours,” the site further noted.

Accor, one of the selected operators for Pinnacle’s branded residences, is a French multinational hospitality group managing a wide portfolio of hotels, resorts, and vacation properties in over 100 countries. Its portfolio spans luxury, premium, midscale, and economy brands, including Raffles, Fairmont, Pullman, Mercure, Adagio, and Ibis.

Tourism Minister Edmund Bartlett, highlighting the Pinnacle project as one of several multi-billion-dollar developments set to transform Montego Bay and Jamaica’s tourism landscape, said it is poised to raise the bar for luxurious offerings.

“Jamaica is ready to lead, not just in the Caribbean, but on the global stage. We are building a tourism sector that is resilient, inclusive, and world-class, supported by infrastructure, premium experiences, and a skilled workforce,” he said during his presentation at a media breakfast held as part of the JAPEX 2025 activities.

Yangsen Li, CEO of LCH Developments Ltd, snapped during a site visit at the Pinnacle project on September 23, 2025.

The landmark development being built within the Montego-Bay Reserve carries a price tag of US$450 million.