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Sale of former Oceana and Forum hotels completed
10:50 am, Wed November 19, 2014
The former Forum Hotel - file photo
On the heels of news Tuesday's news that the former Oceana Hotel has been sold, the Urban Development Corporation (UDC) is also reporting that it has completed the divestment of the property which formerly housed the Forum Hotel in Portmore, St. Catherine.
UDC Chairman KD Knight confirmed that it was sold for $350 million to Portmore Marina Limited. The agreement for this transaction had been announced earlier in the year, and Mr. Knight told RJR News that the sale was completed last week, "which is that all monies have been paid."
10:50 am, Wed November 19, 2014
The former Forum Hotel - file photo
On the heels of news Tuesday's news that the former Oceana Hotel has been sold, the Urban Development Corporation (UDC) is also reporting that it has completed the divestment of the property which formerly housed the Forum Hotel in Portmore, St. Catherine.
UDC Chairman KD Knight confirmed that it was sold for $350 million to Portmore Marina Limited. The agreement for this transaction had been announced earlier in the year, and Mr. Knight told RJR News that the sale was completed last week, "which is that all monies have been paid."
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