Developers plan to construct a modern mall at 80 Hope Road, Kingston, on grounds held by a company based in the tax haven of St Lucia, Sunday Business understands.
"The development will offer office and retail space," confirmed architect to the project, Jeremy Millingen, before returning to a meeting.
The 80 Hope Road property spans 4.5 square kilometres of land. The property was last valued at J$11.8 million as at May 2002, according to a National Land Agency (NLA) description. A St Lucia-based company, Leemore Limited, holds possession of the land, NLA records show.
The property was said to have once housed a private school.
Sara Hendrickson, who is overseeing the development, declined to comment ahead of receiving approval for the mall from the Kingston & St Andrew Corporation.
However, indications are the developers expect to complete the project by next year. Coldwell Banker Jamaica Realty is already soliciting for occupants to take possession of leased space in late 2012.
Sunday Business understands that veteran builder Hue Lyew Chin will be the project's structural engineer.