Sat | Oct 10, 2015

GraceKennedy reinforces commitment to downtown Kingston

Published:Thursday | March 8, 2012

GraceKennedy Group chief executive officer, Don Wehby, has reinforced the company’s commitment to downtown Kingston and Jamaica in general, but has urged developers to put in place parking facilities and other infrastructure to facilitate businesses.

“When things got tough and times got turbulent, many moved their business (but) we stayed,” Wehby told a gathering at the official opening of the GraceKennedy Financial Centre at the corner of Duke and Harbour streets downtown Kingston on Wednesday.

He said “the development of downtown Kingston is extremely important for the development of Jamaica, and we wholeheartedly support any initiative for the development of downtown Kingston.”

Wehby cautioned, however, that urban developers needed to ensure that the proper infrastructure was put in place to facilitate the influx of business that was sure to come about as a result of the programme.

One area which he pinpointed for particular attention was parking.

“The urban developers need to ensure that there is enough parking for the people who come downtown to conduct business“, the Group CEO said.

Wehby also spoke to GraceKennedy’s commitment to Jamaica, revealing that the company’s capital expenditure in Jamaica over the last 10 years was J$10 billion.

This year, the company has committed J$1.39 billion to capital expenditure.

“This is a reflection of the confidence in the future of our company, our confidence in Jamaica and confidence that our investments will give us a proper return on our investments,” he explained.

The financial centre houses GraceKennedy subsidiaries First Global Bank Ltd., First Global Financial Services Ltd. and Jamaica International Insurance Company.