It has been confirmed that the mystery buyer of the former Jamaica Producers (JP) headquarters on Oxford Road is the Jamaica National (JN) Group.
The sale of the property at 5 Oxford Road in St Andrew for some J$300 million was announced back in 2015, however, the identity of the buyer was not revealed until now.
From 2015 to early 2019, JP retained one third of the three-story building as its corporate headquarters under a lease agreement and then moved out completely in mid-2019.
In 2018, the JN Group renovated the property next door at 2 Belmont Road as the JN Financial Group headquarters housing the JN Bank and JN Fund Managers brands. Now, the corporate communications department at JN has confirmed that renovations are taking place at the former JP building.
While the corporate communications department did not confirm the outcome of the Oxford Road renovations, there is speculation that the JN Group will bring several of its brands under one roof. This could include; the JN General Insurance Company, JN Life Insurance Company Limited, JN Money Services Limited, JN Small Business Loans Limited and Jamaica Automobile Association Limited among others.