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Places & Spaces
Real Estate Developments in Jamaica
Be Knowledgeable
G
iven the prevailing investment landscape in Jamaica, there is a it is viewed as an effective method for sustainably building
current trend to shift more into investing in real estate because
wealth. Real estate property investments are attractive for personal use and/ or for diversification of an investment portfolio.
There are however, more inherent risks involved in going the route of a property from the existing housing or commercial property stock. objectives, intended purpose of the property, available budget to expected benefits are central to the decision-making process. Design and Build your own building
construction and development as an investor, compared with buying A careful examination of issues including the client’s risk profile and complete purchase payments and any necessary modifications and
This approach promises a purpose-designed structure to suit your
spatial and aesthetic needs, or to meet the needs of the market if it construction financing, design plans, professional project team,
is an investment property. It involves site selection, land acquisition, planning approval and construction management. With each of these
To Build or to Buy?
stages of the development process there is a time factor involved and from concept to completion, if properly planned and executed.
trends show that the time to complete varies between 18 to 24 months
Without a project manager to assist, an investor is at risk at every stage of the development process. Some of these inherent risks include: Security of capital being invested in the project to unscrupulous builders/contractors; faulty land acquisition procedure (relying on
unscrupulous unlicensed agents); not using qualified professionals for laws, regulations and required fees; inferior quality construction, and budget and time overruns.
design and construction management; inadequate knowledge of local