Strictly luxury living, no Airbnb
THE developers of Pinnacle — the Us$350-million residential resort to be built in Montego Bay — have emphasised that property owners will not be able to rent those spaces under short-term Airbnb type arrangements.
The Pinnacle, which will be the first luxury-branded type residence in Jamaica, will be managed and operated by a luxury hotel partner and will be constructed in phases with development handovers to begin in early 2026. The project, ground for which was broken in January this year, will feature 423 residences in four 28-storey apartment blocks and 15 exclusive villas.
“No Airbnb. That’s going to be a part of the home owners agreements [HOAS] and that’s going to be a determining factor. The idea behind it is that Airbnbs have certain elements which are not very controllable,” Tanya Golaub, chief operating officer of LCH Developments, told reporters and editors at this week’s Jamaica Observer Monday Exchange at which plans for next month’s RE/MAX Premier Real Estate Conference and Expo were discussed.
Asked if a purchaser, after closing the sale, decides to use the apartment as an Airbnb, Golaub said this will not be tolerated.
“HOAS are designed in such a way that if there are breaches of the conditions and terms, then there we would ensure that there are implications. How are persons going to get to the rooms? They have to pass through the concierge desk and have access to the elevators; they are not coming in,” she said.
Golaub said if the purchaser persists, then there would be no option but to “put the property back into the pool”.
“We have to stand for something. What about the other purchasers, are they just to sit back while their unit and their purchase and their investment is exposed because of one person? No,” Golaub said.
According to the LCH website, while there will be no Airbnb or short rentals of any unit at The Pinnacle. There is the option for a special owner rental which is for a minimum period per year. It said units will be placed in a residential rental programme which allows for the rental of the unit by the hotel brand through its marketing endeavours and its membership pool of millions of individuals worldwide. The unit owner and the hotel brand will share the profit realised from the rental endeavours.
In the meantime, Golaub said market feasibility studies have shown that “Jamaica is at the stage and point where we can offer branded residences”.
Located on Reading peninsula, the 17.5-acre development features four towers, each reaching 28 storeys with ocean, lagoon and mountain vistas. Buyers can choose from diverse layouts, including one-, two-, three-bedroom apartments and four- and five-bedroom penthouses, while the 15 private villas provide an additional layer of exclusivity and personalised living.
Residents will be pampered by an array of amenities: dedicated concierge services, curated shopping options, diverse restaurants featuring a stunning rooftop bar, a private club, and a spa. The development will also carry tennis and multi-sports courts, with a marina, river, intimate beaches, and pools.
“Studies were done and the definition of luxury has changed. There is a new group of individuals in the market and they are referred to as ‘the Henrys’ [they] are high earners, not yet rich, so in effect these persons want that kind of lifestyle. They want to be able to walk into their homes, turn a key and they are basically living a resort living. What we offer is not the usual where you walk in and there is a pool and security and a gate, no, it’s a lifestyle. Luxury is defined based on a lifestyle and that is what we are offering at The Pinnacle,” she told the Monday Exchange.
The starting price of a one-bedroom luxury unit stands at just over $60 million.
IN recognition of Global Recycling Day on March 18 and as part of its ongoing commitment to sustainability, Tru-juice — the flagship brand of Trade Winds Citrus Limited — made a significant donation of drums to Recycling Partners of Jamaica (RPJ) to distribute to schools across the island, as part of its recycling initiative.
The donation of 600 drums was made to RPJ representatives during a brief handover ceremony at the Tru-juice plant in Bog Walk, St Catherine, and is expected to benefit 600 schools.
“At Tru-juice, in collaboration with several partners and stakeholders, we continue to amplify our efforts to promote the positive effects of sustainable recycling and reusing. Today’s donation is another example of how we support sustainability through recycling and are pleased to be able to provide these drums that will further strengthen our collective responsibilities as citizens to recycle,” said Lauren Mahfood, marketing manager at Trade Winds Citrus.
With a mission of “improving recycling habits across Jamaica”, chairman of Recycling Partners of Jamaica, Dr Damien King expressed gratitude for the donation, noting that its recycling thrust is oftentimes hampered by a lack of resources.
“We get so many requests from schools for help with recycling bins, however, we often cannot fulfil the request because we do not have the receptacle,” Dr King said. He, however, added that he is always heartened by the requests themselves as they are a positive indication that there is a willingness and interest to foster good recycling habits.
According to Global Recycling Foundation, sustainable recycling has a critical role to play in helping to protect natural resources, which contribute to a more environmentally stable planet and a greener future. The foundation noted that with recycling being recognised in the UN’S Sustainable Development Goals 2030, it is important that every global citizen takes action to support the global green agenda, which is about saving the future of our planet and humanity.
“Together, in partnership with RPJ, we are playing our part in contributing to a greener, safer and healthier planet that will not only benefit us, but our future generations. We commend RPJ for the exceptional advocacy that it does, and truly believe that recycling and the development of positive recycling habits are paramount if we are to make progress in combating climate change,” said Mahfood.
This year’s theme for Global Recycling Day is #Recyclingheroes.