Oceana Hotel to be Sold to NHF for $350 Million

Cabinet has approved the sale of the Oceana Hotel complex to the National Health Fund (NHF) for $350 million.

The Ministry of Health will continue to occupy the building, which will be rehabilitated, to provide an improved environment for Ministry staff and the public.

Minister with responsibility for Information, Senator the Hon. Sandrea Falconer, in making the announcement at the weekly Jamaica House press briefing on Wednesday, March 20, said the building is in need of significant repairs, mainly to the roof and the air conditioning system.

The property was advertised for sale in 2008 and 2009, and again in 2012, at which time the NHF expressed an interest in acquiring the building.

Chairman of the NHF, Sterling Soares, said the roof refurbishing will be put to tender soon, with the work expected to begin by mid-year, and completed within six months.

He said the plan is for the building to be used for other purposes, such as housing on two to three floors, and commercial activities on the ground floor.

Mr. Soares noted that the Ministry is also looking to house a medical facility at the location.

The Oceana Hotel was opened in 1977 with 388 rooms, and the building was modified in 1996, and leased to the Ministry in 1997.

By Alphea Saunders, JIS Reporter