A new real estate investment trust (REIT) is being planned to unlock the value of a 12-acre property owned by Derrimon Trading Company in Drax Hall, St. Ann.
Investment management firm, different Capital, says it has been appointed REIT manager for the project, which centres on the property earmarked for residential subdivision.
The company says Drax Hall has emerged as one of Jamaica's fastest growing locations, benefitting from its strategic position along the North Coast and attracting commuters from Kingston, cruise ship visitors and tourists traveling from Montego Bay.
As REIT manager, different Capital will lead a team of lawyers and stock brokers responsible for structuring the investment vehicle, placing the REIT shares with investors and managing the fund's performance.
The company says the initiative is expected to expand access to real estate investment opportunities while supporting the development of the rapidly growing Drax Hall community.
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