Sale of Oceana Hotel nearing completion - Phillips

The divestment of the property, formerly operated as the Oceana Hotel, in downtown Kingston is now in the final phase of completion. An agreement for the sale is before Cabinet.

 

The disclosure was made by Finance Minister, Dr. Peter Phillips, on Sunday during a political meeting in South West St Andrew.

    
Dr. Phillips said the sale will lead to the creation of new jobs, based on the development plans for the restoration of the property to its former use as a hotel, and other initiatives slated for downtown Kingston.

He said other private investors will be establishing offices complexes for call centres and other forms of business process outsourcing.

These, he said, will facilitate "thousands of young people, having left high school and university, who can find employment..."