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UDC to sign Oceana Hotel sale deal

Published:Tuesday | November 18, 2014 | 9:29 AM
Oceana Hotel in downtown Kingston. - File

The Urban Development Corporation (UDC) will this morning sign a multimillion-dollar agreement for the sale of the Oceana Hotel in downtown Kingston.

The building housed the Health Ministry.

The UDC has not disclosed the value of the deal.

However, it has disclosed that the property is being sold to a consortium with noted Canadian Developers, Downing Street, Partners Realty and Jamaica Property Company Ltd.

The UDC says it has negotiated the sale of the Oceana Complex as part of its continuing redevelopment thrust in downtown Kingston.

The UDC says at the press conference today, it will reveal details on proposed use of the facility.

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