PriceSmart opens US$28 million location in Montego Bay

 

Membership warehouse club PriceSmart says its newest location in Ironshore, Montego Bay, St. James, reflects an investment of US$28 million.

 

This latest addition brings to three, PriceSmart locations since the company first began business in Jamaica in 2003.

 

"A couple of years ago, we announced our plans to make several large investments in this beautiful country. Accordingly, last year, we opened a new and modern $5 million central bakery facility, first of its kind in the PriceSmart portfolio, which is already making a big impact in our ability to service our Jamaica Members' Bakery needs. This club is the second step towards such plan, and in just a few months, we anticipate opening our fourth club and our new distribution centre, which combined will represent US$33 million of additional investment," said Rodrigo Calvo, PriceSmart's Executive Vice President of Real Estate and Construction. 

 

Mr. Calvo adds, that the company is also considering additional investment opportunities to its Portmore club, which will combined, bring the total investment in Jamaica to over US$70 million.