UDC To Divest Lands During 2022/23

For the 2022/23 financial year, the Urban Development Corporation (UDC) will focus on the monetisation of its land assets through divestments, as well as the continuation of its project management functions.

This is outlined in the 2022/23 Public Bodies Estimates of Revenue and Expenditure, tabled recently in the House of Representatives.

The document further noted that the UDC will continue to manage the execution of several projects.

To this end, the Corporation plans to finalise the Houses of Parliament contractual arrangements, mobilise the selected contractor and commence the groundwork during the Budget year.

Capital works are also under way for the Montego Bay Waterfront Groynes rehabilitation project, which commenced in June 2021 and is expected to be completed during the Budget year.

“This will aid in the restoration of the shoreline and preserve the coastal infrastructure,” the document stated.

The UDC is also advanced with the preparation of the master plan, which is expected to guide the redevelopment of Port Royal, the Palisadoes and surrounding environs.

The UDC was established by the Urban Development Act of 1968. The main activity of the Corporation is to undertake urban and rural renewal, as well as orderly development in specific areas designated by the Government of Jamaica (GOJ), with the goal of stimulating economic growth and making development happen.