Prime Minister of Jamaica Andrew Holness, and Minister of Tourism Edmund Bartlett on Friday, February 28, broke ground for a US$1 billion multi-resort development – Sugarcane Bay Jamaica – in Llandovery, St Ann.
The project is being executed by Karisma Hotels and Resorts on a 226-acre property that will add approximately 4,700 new rooms in the tourism sector.
The landmark investment will create 10,000 new permanent jobs, attract approximately 375,000 visitors annually to the island and generate $850 million yearly to the economy. The resort also represents the first major investment under the country’s ‘Shovel Ready’ Programme.
“Today is set to become a new landmark for luxury travel in Jamaica. The dream of Sugarcane Bay is becoming a reality.”– Chief Sales and Marketing Officer at Karisma Hotels & Resorts, Armando Chomat
In his address, the Prime Minister said this investment is an indication of the robust growth in local tourism.
“Significant investments have been made in the industry and these investments have been able to generate significant returns. Investors now know that investing in Jamaica is a profitable business,” Holness added.
He emphasised that investors can also be assured that their investments are safe and secure, due to the strong economic policy in Jamaica.
“So, you can be certain that whatever you invest here, will not be at the mercy of whimsical tax policy or other forms of regulations that could deplete or ruin your business. That is not the case in Jamaica,” said Holness.
For his part, Bartlett said the investment represents a new chapter for St Ann’s tourism output to the overall economy.
The Minister noted that this development forms part of Jamaica’s overall goal of 15,000 new rooms in the next three to five years.
In the meantime, Chief Sales and Marketing Officer at Karisma Hotels & Resorts, Armando Chomat, lauded the Jamaican Government and its agencies for working with the group to make Sugarcane Bay Jamaica a reality.
“Today is set to become a new landmark for luxury travel in Jamaica. The dream of Sugarcane Bay is becoming a reality,” he said.