Sale agreements finalised for 3 residential, 2 industrial blocks at Greater Bernard Lodge
Sale agreements have been finalised for three residential blocks in the Greater Bernard Lodge Development Phase 1, and 10 per cent deposits paid.
Sale proceeds amounted to J$648 million, with proposed investments of J$8.9 billion.
The update was given by the Minister without portfolio in the Ministry of Economic Growth and Job Creation, Everald Warmington, during his recent contribution to the Sectoral Debate.
He said that under the phase one light industrial component of the development, sale agreements were completed for two light industrial blocks and deposits amounting to 10 per cent paid. The sale proceeds amounted to J$720 million with proposed investments at J$10.3 billion.
Warmington said phase one of the Greater Bernard Lodge Development will see some 800 jobs annually during construction.
He said the tender for phase two of the development was launched on December 8, 2021, with a submission deadline of March 1, 2022. Thirteen proposals were received from five entities, and the bid evaluation process is now underway.
The identification and approval of recommended preferred bidders and commercial close is expected by the end of June.