Sagicor Group Jamaica (SJ) is at the final stages of completing a lucrative project, the New Brunswick Village commercial and residential complex in Spanish Town, St Catherine. This project was created through Bailey Williams Limited; it marks the first project with this new partnership.
This project encompasses 40 commercial units and 89 residential spaces, that come with two-bedroom townhouses, and studios, along with one-and two-bedroom apartments.
Sagicor Group struck at an opportunity to leverage the resources of Bailey Williams which was a startup real estate development venture at that time. They purchased 70 percent of the company in 2019 and started the development of the property a year later in 2020.
The project now is in the final stages and they are expected to open up commercial units later this year and residential units in April 2023.
Sagicor Property Services will oversee the management of this property and has already secured commitments from future businesses to rent out certain areas on the property.
This was a smart move by Sagicor to leverage a company that already had key resources instead of starting from scratch. Location wise it’s also a good deal and looks like a successful venture.
