First Rock Capital Holdings Ltd acquires a major stake in decades-old real estate brand Century 21 Heave-Ho Properties Ltd. Deborah Cumming who has been spearheading Century 21 has grown her business into an international brand that has gained the interest of various investors over the years.
Century 21 Heave-Ho Properties Ltd has been around for over 20 years and Deborah Cumming has grown the organization to over 50 agents and multiple offices stationed around Jamaica. She has grown the business into one of the top 3 brokerages in Jamaica.
This deal will ensure that these two companies will join forces to work on strategic projects that will grow both businesses. Cumming will remain as CEO of the company and qualifying broker and attorney at law/realtor Jordan Chin will be operating in an executive role.
Mr. Chin will be chairman of the board of directors which will also include other key figures from First Rock such as Ryan Reid, Dr. Michael Banbury, Rohan Grant, and Sean Shelton.
Cumming seems enthusiastic about this restructuring of the company and is happy with the new team on board.
“I feel there will be a positive synergy between First Rock Group and CENTURY 21 Heave-Ho Properties and that together we will play a key role in the development plans of First Rock in Jamaica and the Caribbean.”
Chin seems also happy overall and what it means for both companies. “This partnership with Deborah Cumming and the CENTURY 21 team is very exciting, the combined skill set of the executive leadership will propel CENTURY 21 forward. The reorganized team plans to significantly impact the real estate industry.”
Mr. Reid states that he is also happy with the deal and the opportunities that lie ahead in the real estate industry, “We are really looking forward to the strong working relationship with Debbie and her team.
“We are entering this space in a meaningful and aggressive way and will further capitalize on any potential M&A in the real estate industry across the Region.”
“We think as a Group and Board, the space is ripe for growth capital, and especially, given the continuing outlook for the construction sector in Jamaica, the Caribbean, and naturally the direct correlation to the real estate sector.”
