The development of 200 acres of land in Caymanas, St. Catherine has been accorded national priority status by Cabinet.
Speaking at Wednesday's (February 2) Post Cabinet press briefing at Jamaica House, Minister with responsibility for Information, Telecommunications and Special Projects, Hon. Daryl Vaz, said the decision is in relation to the Caymanas Economic Zone (CEZ) land acquisition, and Cabinet requires all relevant state agencies to facilitate implementation with urgency.
"Cabinet also authorised the immediate assignment of possession of the 200 acres of Caymanas land to the Factories Corporation of Jamaica, pending transfer of title at a later date," he said.
The Minister also stated that Cabinet approved payment of a 10 per cent deposit to the Urban Development Corporation (UDC) for the 200 acres. Payment for the balance will be on the transfer of splinter titles to the final investors.
The project site is part of the UDC's Caymanas Estates Development Plan, which comprises residential units, light commercial industry zone and recreational facilities spreading across 10,000 acres. Between 1,500 and 2,000 acres will be reserved for the CEZ.
CONTACT: ALECIA SMITH