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UDC seeking investors for beach parks, attractions
Published: Friday | January 7, 2011
A section of the Bluefields coastline in Westmoreland. The Urban Development Corporation operates a beach park in the vicinity, not pictured here. - File
Development Bank of Jamaica (DBJ) is recruiting consultants to package a number of tourist attractions and beach parks for divestment on behalf of Urban Development Corporation (UDC), which is shedding non-core assets.
The bank said the consultants would determine the model of divestment and oversee the valuation of the assets.
The list of park properties includes Dunn's River Falls, Laughing Waters Restaurant and Beach Club; Green Grotto Caves, in Discovery Bay, St Ann; Two Sisters Cave in St Catherine; and Reach Falls in Portland.
The beachfront properties include Long Bay Beach and Bluefields Beach in Westmoreland; and Fort Clarence Beach in St Catherine.
It is unclear whether UDC's preference is to sell or outsource the management of the properties under lease.
"The selected consultants will be required to undertake a detailed analysis of the financial performance, prospects and structure of each of the assets and advise on the options for structuring the privatisation offer package in line with the general objectives set out by the Government of Jamaica," the bank said via email.
The DBJ said the consultants would be required to recommend the best divestment modality; package the assets for divestment and identify suitable operators and/or developers for the local attractions.
"The DBJ, in contemplating these privatisation transactions, expects to achieve an outcome which contributes to competitive, sustainable economic activity and development, through commercially viable operations," said the bank.
dionne.rose@gleanerjm.com
http://jamaica-gleaner.com/gleaner/2...business3.html
Published: Friday | January 7, 2011
A section of the Bluefields coastline in Westmoreland. The Urban Development Corporation operates a beach park in the vicinity, not pictured here. - File
Development Bank of Jamaica (DBJ) is recruiting consultants to package a number of tourist attractions and beach parks for divestment on behalf of Urban Development Corporation (UDC), which is shedding non-core assets.
The bank said the consultants would determine the model of divestment and oversee the valuation of the assets.
The list of park properties includes Dunn's River Falls, Laughing Waters Restaurant and Beach Club; Green Grotto Caves, in Discovery Bay, St Ann; Two Sisters Cave in St Catherine; and Reach Falls in Portland.
The beachfront properties include Long Bay Beach and Bluefields Beach in Westmoreland; and Fort Clarence Beach in St Catherine.
It is unclear whether UDC's preference is to sell or outsource the management of the properties under lease.
"The selected consultants will be required to undertake a detailed analysis of the financial performance, prospects and structure of each of the assets and advise on the options for structuring the privatisation offer package in line with the general objectives set out by the Government of Jamaica," the bank said via email.
The DBJ said the consultants would be required to recommend the best divestment modality; package the assets for divestment and identify suitable operators and/or developers for the local attractions.
"The DBJ, in contemplating these privatisation transactions, expects to achieve an outcome which contributes to competitive, sustainable economic activity and development, through commercially viable operations," said the bank.
dionne.rose@gleanerjm.com
http://jamaica-gleaner.com/gleaner/2...business3.html
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