Sagicor Property Services to sell divested Silver Sands properties

SAGICOR Property Services (SPS) — the property management and real estate arm of Sagicor Group Jamaica — has won a bid by the Development Bank of Jamaica (DBJ) to sell 16 properties to be divested by the Government of Jamaica in Silver Sands, Trelawny.

This came on the heels of the announcement by Minister of Finance Dr Nigel Clarke in his budget presentation in March, that the Government will be privatising lands in the resort community to further drive and increase investments locally.

The properties, valued at $381 million, include 15 vacant, underdeveloped lots and one villa — Bueno Vista, located in the beachfront, gated complex.

“Sagicor Property Services is pleased to have won the bid to sell some of the Silver Sands properties. The fact that we are involved in increasing accessibility to assets for Jamaicans is encouraging to us, as our passion is to give all Jamaicans an opportunity to own a small portion of our beautiful island home,” said Wayne Robinson, assistant vice president, Sagicor Property Services.

Robinson added that the properties are good investments and prime lands for development and their earning potential far exceeds the cost to purchase them, noting that SPS is encouraging Jamaicans to buy into the offer as it can only be beneficial to them and their families.

Sagicor intends to sell the three-bedroom, three-bathroom villa with a private pool for $80 million; while the lot prices start at $15 million.

Interested parties can also visit www.sagicorproperties.com to have a virtual look at the properties and the rules governing their sale and offer submission.