Mon | May 27, 2019

MoBay symposium to focus on real estate

Published:Saturday | April 20, 2019 | 12:29 AM
Gladstone Whitelocke (right), Development Financing Specialist, Jamaica National Group, and Petal James (centre), head of Mobile Banking, JN Bank, listen keenly as Andrew James, president of the Realtors’ Association of Jamaica (RAJ), makes a point, during the ‘Know Your Property Rights’ symposium, mounted by the RAJ at the Golf View Hotel in Mandeville recently. The event was sponsored by JN Bank.
Gladstone Whitelocke (right), Development Financing Specialist, Jamaica National Group, and Petal James (centre), head of Mobile Banking, JN Bank, listen keenly as Andrew James, president of the Realtors’ Association of Jamaica (RAJ), makes a point, during the ‘Know Your Property Rights’ symposium, mounted by the RAJ at the Golf View Hotel in Mandeville recently. The event was sponsored by JN Bank.

The matters of unregistered land, the Rent Restriction Act and increased opportunities for real estate investments in Jamaica will take centre stage at the Western Jamaica Real Estate Symposium slated for April 26.

The event, which is being organised by the Realtors’ Association of Jamaica (RAJ), in partnership with JN Bank, will be held at the Montego Bay Convention Centre in St James, starting at 5:30 p.m.

Senator Pearnel Charles Jr, minister without portfolio in the Ministry of Economic Growth and Job Creation, will deliver the keynote address.

President of the RAJ, Andrew James, said the symposium presents a unique opportunity for persons living in western Jamaica to receive pertinent information about the land-registration process.

“The reality is that there are thousands of landowners across the length and breadth of this island who have no documentation to prove ownership. Many of them are being held back economically because they are unable to use their titles to access loans that they can in turn use to improve their circumstances,” he said.

James added: “We are hoping that these persons will come out to hear the presentations from the National Land Agency, so they can get well-needed information about how they can register their land.”

He noted that persons will also hear from the Rent Assessment Board of Jamaica about how the long-awaited amendments to the Rent Restriction Act will affect them. “Many landlords and tenants don’t know their rights under the law. This is an opportunity to hear from the persons who are reviewing the current legislation. You also have the opportunity to voice your concerns and ask your questions, he said.

James said discussions will also focus on the theme, ’Real Estate Investment 2019: A Road Map’ and will look at the various investment opportunities now available across the real estate sector, especially in light of the recent announcements made by the Government.