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Sagicor Real Estate assets grow significantly

Published:Tuesday | June 14, 2016 | 11:08 AM

The assets of Sagicor Real Estate X Fund have increased by almost $20 billion moving from $14 billion in 2014 to 33.9 billion last year.

Profit after tax attributable to stockholders for the year was $1.3 billion.

That represents a 41 per cent increase over the previous year of $921 million.

The figures were disclosed at the company's third annual general meeting held yesterday at Jewel Dunn's River in Mammee Bay, St Ann.

The company attributed the significant growth to the new acquisitions as well as the growth in the value of units of its Sigma Real Estate Portfolio. 

CEO of Sagicor Real Estate X Fund Limited, Rohan Miller, noted the acquisition of the Hilton Rose Hall and Spa in Montego Bay and the Doubletree by Hilton at the entrance of Universal Orlando, in Florida.

Sagicor Real Estate X Fund is the largest real estate company listed on the Jamaica Stock Exchange.

It is the only company that allows Jamaicans to invest directly in the real estate market and the tourism market.