Approximately 427 acres of idle lands located in St. Catherine are to be converted for commercial and residential purposes.
This follows Cabinet’s approval of the sale of the lands by SCJ Holdings Limited.
Minister of Education, Youth and Information, Senator the Hon. Ruel Reid, made the disclosure during a post-Cabinet press briefing at Jamaica House on June 28.
He noted that the lands, which are to be sold at market price, have long been out of use for agriculture and, once converted, should generate development and employment.
The Minister informed that ALF Investments Limited will be purchasing the largest parcel of land – 300 acres; New Era Homes 2000 Limited – 97 acres; and Malarc Management Services Limited – 30 acres.
He further noted that SCJ Holdings Limited is to enter into a lease agreement with MegaMart Wholesale Club and Associates for approximately 40 acres with the option to purchase.
SCJ Holdings Limited is a land management company owned by the Government that operates specifically to support job creation, improve foreign trade and increase productivity.
Through various public-private partnerships, the entity utilises the assets under its management to promote investments in sectors such as agriculture, aquaculture, mining, energy, construction, tourism, and other manufacturing interests.
The company supports these investments primarily by providing lands through sale, leases, or joint venture arrangements with investors who propose viable projects.