The Rooms on the Beach property in Ocho Rios, St. Ann
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Audley Shaw, Minister of Industry and Commerce
The government is insisting that the sale of the Rooms on the Beach property in St. Ann is not a loss to the country.
Concerns were raised by the Parliamentary Opposition after a report from the Contractor General revealed that the Rooms on the Beach property and the Moon Palace beach lands were sold to Puerto Caribe Properties Limited for US$7.2 million.
The price was below the lowest valuation.
Industry and Commerce Minister Audley Shaw is the latest member of the Cabinet to declare that significant gains are coming from the divestment.
He said the property was sold in exchange for a US$500 million investment to transform Ocho Rios and create 7,000 permanent jobs after completion and about 3,000 more hotel rooms.
Mr. Shaw has blasted the Opposition for its approach to the sale of the Rooms on the Beach property in St. Ann.
He argued that while the Opposition is complaining that the sale of the property was for less than was expected, other countries would have simply given over the land to be developed in exchange for the benefits that would come later.
"We've got to stop this hypocrisy and fooling around with the future of our country because what that is about is courting poverty and we cannot move from poverty to prosperity with that kind of mentality. It is a thing of the past and it must go," he suggested.
The Opposition had held a press conference regarding the sale of the property earlier this week.
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