Norbrook Realty Limited is on the verge of investing approximately US$75 million in a group of real estate projects at various locations within Jamaica. These projects will be mainly luxury commercial and residential properties. A commercial tower will be built in Kingston and two luxury beachfront communities in Ocho Rios, St. Ann.
Norbrook equity partners Executive Chairman and Norbrook Realty Limited founder, Khary Robinson states these current undertakings are a result of diligent research over years of continuous effort, along with strategic partnerships with different agencies who were deemed supplementary to achieve the overall goals.
“For years, we observed the real estate industry and, like any of our other business lines, we spent time and effort to understand the market and identify gaps,” said Robinson.
“Thereafter, we strategically accumulated key parcels of land, formed partnerships with proven industry experts, and developed a unique product set for a niche audience. Given our conservative nature, we then presold units to further reduce our risk. Today, we are excited to unveil three projects that we are very proud of and that will form the backbone of our formal entry into real estate development.”
It is to be noted that this is not Norbrook’s first ever realty project, earlier they constructed Bohia Villas located in Mammee Bay which completely sold out pre-construction. If assumptions were to be made it would be safe to say that this success was pivotal to where the company is at now.
Overall these projects are important for a larger push the company is making to become a leading provider in the luxury real estate market in Jamaica.
