The Urban Development Corporation (UDC) says investors have been reacting positively to its Caymanas Estate development project, snapping up 50% of the lots in Block 1.
The strong response comes less than one year after the groundbreaking ceremony for the 108-acre commercial zone, which is called the Rain Tree Commercial Complex.
It is the first phase of the UDC's plan to develop more than 3,400 acres of land in the Caymanas Estate, and the corporation says it is on track to deliver the lots by July of next year.
The project is expected to deliver 2,000 short-term jobs during the construction phase and 5,000 long-term jobs upon completion.
UDC Chairman Norman Brown says the project is expected to attract infrastructural investments of $3.8 billion and long-term private sector investments of $15 billion.
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