Sygnus Real Estate Finance is reporting an improvement in earnings and core revenues for the three months ended November 30, last year, as it continued to advance major real estate projects across Jamaica.
In unaudited first-quarter results for the 2026 financial year, the company recorded negative core revenues of J$23.2 million, a significant improvement from the $125.7 million loss recorded in the same period last year.
The group also reported gains from joint venture investments amounting to just over $12 million, supported by profits from its Delphin Holdings and Audere Holdings partnerships.
During the quarter, the company broke ground on its 55-acre industrial development at Lakes Pen in St. Catherine, with construction scheduled to begin in the second quarter of 2026.
Work also continued at the One Belmont commercial office tower, where a third tenant is expected to take occupancy next year.
The company says improved yields on its real estate investment notes and a slight reduction in borrowing costs supported the quarter's performance.
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