UDC privatising Ft. Clarence, Bluefields and Negril Beaches

[Magician]

Email weh dem send me a while ago...

Dear Fellow Jamaicans,
The Development Bank of Jamaica (DBJ) is managing the privatization (via concession) of four (4) beachfront properties owned by the Urban Development Corporation (UDC). The UDC is wholly owned by the Government of Jamaica and is responsible for, among other things, the development and renewal of designated urban areas. The UDC manages a number of prime properties in Jamaica, four of which are among those being privatized, as set out in the attached documents. The 4 prosperities are:

1. Fort Clarence Beach in St. Catherine,

2. Bluefields Beach in Westmoreland,

3. Long Bay Beach 1 in Hanover/Westmoreland, and

4. Long Bay Beach 2 in Hanover.

The DBJ has engaged Pricewaterhouse Coopers (PwC) to package the privatization of the beachfront properties, and identify suitable operators/managers for the beaches. The transaction process involves two (2) stages:

a. an Expression of Interest/Pre-qualification Stage, and

b. a Bidding Stage.

The DBJ has started the Expression of Interest/Pre-qualification Stage.

Please find attached copy of a Preliminary Information Guide document as well as a copy of the advertisement.

Persons interested in the properties are invited to submit formal Expressions of Interest (EOI) directly to PwC in Jamaica. Interested investors will be asked to participate in a prequalification process and will be provided with a Pre-qualification Guidelines document. All prequalified potential investors will be invited to participate in a public tender bidding process. An Information memorandum, which provides additional information on the beachfront properties opportunity, as well as bidding rules and guidelines, will be available for sale in 2013.

The Embassy would be happy to know whether you have an interest in this opportunity and would be grateful for your kind assistance in passing this information to investors you know who may be interested in these beachfront properties.

Yours sincerely,


--


------
Craig B. Douglas
First Secretary

Embassy of Jamaica
State of Kuwait

Location: Al-Zahra, Block 8, Street 809, House 119
Mailing Address:P.O. Box 228, Al-Zahra 47453, South Surra. Kuwait

Office:+(965) 2524-4261 (Ext: 102)
Mobile:+(965) 6651-7395
Fax:+(965) 2524-4136
Email: [email protected] or [email protected]

Opening Hours: Sundays to Thursdays, 8:30am - 4:30pm


2 attachments — Download all attachments

UDC Beaches - Preliminary Information Guide - November 2012.pdf 2452K View Download

UDC Beaches - Advrtisement.pdf 718K View Download

[Tropicana]

Oh no they are turning back the hands of time.

[Pepper]

sad news

[R_C]

What exactly does "privatization by concession" mean ??

[evanovitch]

http://www.mfaft.gov.jm/files/UDC%20Beaches%20-%20Preliminary%20Information%20Guide%20-%20November%202012.pdf

[evanovitch]

The purpose of this Preliminary Information Guide (the "Guide") is to advise potential investors of the opportunity to manage, operate and develop, under long-term operating leases, four (4) beachfront properties owned and operated by the Urban Development Corporation ("UDC" or "the Corporation"), namely:
•
Fort Clarence Beach Park, St. Catherine
•
Long Bay Beach Park 1, Westmoreland/Hanover
•
Long Bay Beach Park 2, Hanover
•
Bluefields Beach Park, Westmoreland
This document is for information purposes only and is provided on the understanding that it will be used only for this purpose.
Although PricewaterhouseCoopers Tax and Advisory Services Limited ( hereinafter referred to as "PwC" or " the Financial Advisor") believes that the information contained in this document is accurate, the Financial Advisor makes no representations or warranties, expressed or implied, concerning such information. The Financial Advisor shall have no obligation or liability to any prospective bidder or lessee as a result of the furnishing of information herein.

[R_C]

So going by this (? deliberately ) vague document put out by the UDC, will the investor actually own the property or not ? If not, why would anyone want to "manage, operate and develop" property they did not own ?

[RichD]

So going by this (? deliberately ) vague document put out by the UDC, will the investor actually own the property or not ? If not, why would anyone want to "manage, operate and develop" property they did not own ?

because dem can mek a money by charging for use.

[R_C]

because dem can mek a money by charging for use.

So RichD, would you sink your money into these properties on that basis....? Especially given that the owners declined to do so themselves ?

[RichD]

So RichD, would you sink your money into these properties on that basis....? Especially given that the owners declined to do so themselves ?

right now the udc charges $150 to enter ..i would have to look at the numbers to see if there is money to be made.

just because UDC not investing does not mean there is not a good business there.

[R_C]

just because UDC not investing does not mean there is not a good business there.

Evidently Kevin Hendrickson bought the UDC's share in Pegasus on that basis too. And we know how well that is going.

Anyway, K.D. Knight is in now so maybe there is a different vision from the top. Nevertheless, I find the idea that the UDC would be offloading profitable assets difficult to swallow.

[RichD]

Evidently Kevin Hendrickson bought the UDC's share in Pegasus on that basis too. And we know how well that is going.

Anyway, K.D. Knight is in now so maybe there is a different vision from the top. Nevertheless, I find the idea that the UDC would be offloading profitable assets difficult to swallow.

i agree. but maybe somebody might see a model that they have not seen or are unwilling to try. or it might just be a way to pass on some spoils

[R_C]

Comrade haffi eat a food tuh !

[RichD]

Comrade haffi eat a food tuh !

all those years at the table dem develop very healthy appitites

[RichD]

Comrade haffi eat a food tuh !

very timely