PM Welcomes US$50 Million Investment Projects

Prime Minister, the Most Hon. Andrew Holness, has welcomed investment of US $50 million in the development of a hotel and state-of-the art automotive showroom in St. Andrew.

The partnership involving Sandals Resorts International (SRI), ATL Autobahn and Marriott International, Inc. will see the construction of a new AC Marriott Hotel and a BMW and MINI showroom on lands at 38-42 Lady Musgrave Road.

At the groundbreaking ceremony on January 20, the Prime Minister commended the investment partners on the undertaking.

He said the Government is committed to creating the environment to attract investment and to ensure that businesses and citizens can thrive.

The Prime Minister said the projects complement development plans by the Administration, including the creation of a ‘Government Circle’ at National Heroes Circle.

He said plans are “fairly advanced” for the project, which will involve construction of ministries around National Heroes Park, development of the park and creation of a new Parliament building.

The Prime Minister said the Urban Development Corporation (UDC) will be undertaking development of a lifestyle district and multi-use facilities downtown, Kingston and he has instructed the agency to work with the Tourism Enhancement Fund (TEF) to develop the Kingston Waterfront.

“The Government is strategic in rebuilding the skyline of Kingston and very soon you will be seeing the buildings going up,” he noted.

Chief Executive Officer (CEO) and Deputy Chairman of the ATL Automotive Group and SRI, Adam Stewart, said the hotel and automotive investment is a signal of the Group’s confidence in Jamaica.

He informed that last year “our group contributed US$50 million to the Jamaican economy in developments throughout our chain.”

Minister without portfolio in the Ministry of Economic Growth and Job Creation, Hon. Daryl Vaz, said his Ministry along with its agencies such as the Jamaica Promotions Corporation (JAMPRO) will facilitate and promote trade and investment opportunities locally and internationally.

He noted that solutions will be advanced to bolster the economy, which will put it on a trajectory for economic growth and stability.

Mr. Vaz indicated that certain sectors of the economy such as agriculture have already begun to see an uptick.

He commended ATL and Sandals for the “immeasurable” contribution to Jamaica’s development.

Slated to begin construction shortly, the AC Marriott Hotel will be Jamaica’s first business-lifestyle hotel and will be the first time that Sandals will enter the non-all inclusive market  known as the European Plan (EP).

The 220-room hotel will feature six restaurants, a salon and conference centre among other amenities, and will provide permanent employment for approximately 300 persons.

It is scheduled for completion in December 2019 and approximately 600 persons will be employed during the construction phase.

The BMW and MINI showroom will officially open in December 2017 and will be designed in accordance with BMW Group’s International brand standards.