THE HIGHLY-PUBLICISED Harmony Cove tourism development project is slated to cost anywhere between US$650 and $800 million, Prime Minister P.J. Patterson disclosed on Wednesday.
Beaming with pride, Mr. Patterson, shortly after his post-Budget briefing at Jamaica House, showed journalists a miniature layout of the planned 1,400-acre scheme to be constructed between Duncans and Braco in Trelawny.
The Prime Minister was flanked by Kingsley Thomas, executive chairman of the Development Bank of Jamaica (DBJ), who disclosed that the DBJ had sold its shares in Jamaica Money Market Money Brokers (JMMB) to purchase the prime stretch of land.
Mr. Thomas told journalists that the land, formerly owned by an English aristocrat, was purchased at a cost of about £5 million (US$7.5 million).
The upscale resort will feature four five-star hotels inclusive of a 1,000 room convention centre, three signature golf courses, a marina, apartments and condominiums and a 95,000 square foot meeting place.
Mr. Thomas also noted that the development was expected to supply between 5,000 and 6,000 jobs - during the construction phase and 11,000 to 13,000 jobs on completion.
And indicating that potential partners had already bought into the plan, Mr. Thomas said that a joint venture agreement could have already been signed for the multimillion-dollar project.
However, Mr. Patterson reiterated that advertisements would be placed both locally and overseas this week, seeking proposals for potential joint venture partnerships to implement the development.
