CONSTRUCTION IS expected to begin by year-end for the single largest hotel development in Jamaica's history.
First announced in June 2003, the investment, which was facilitated by Jamaica Promotions Corporation (JAMPRO), saw the signing of a sale agreement between the Pinero Group, one of the leading tourism chains in Spain, and the local Tankweld Limited, for the sale of the 200-acre Pear Tree Bay property in Runaway Bay, St. Ann.
"Group Pinero will build three hotels over a period of three years with a total investment of approximately US$150 million," according to JAMPRO. The project is expected to include the construction of 1,200 rooms in the first instance along with support facilities.
NETWORK
The investment promotion agency said the Pinero Group comes with its own global marketing and distribution network to sell the destination.
The development of the Pear Tree Bay property is expected to be phased, with the first two hotels being constructed initially, along with a commercial and entertainment facility, conference facilities, an amusement centre and shopping facilities.
A golf course and a third hotel are part of the final phase of the development.
