FOR REAL ESTATE INVESTORS
NEPA APPROVED DEVELOPMENTS:-
- PHENION ON THE RIDGE RESORT
HOTEL CONDOMINIUM; Montego Bay, St. James Jamaica W.I. The demanded “HIP
–STRIP” AREA. 236 suites of 2& 3 bed room units.
- SUNSET TOWN CENTRE, “HIP-STRIP”
Montego Bay, Contiguous to the PHENION RIDGE HOTEL. Mainly commercial
suites of offices and retail, a four screen Theatre/ which doubles as a
cinema. With a 80 unit Suite Condo; virtual offices and conference centers
- PHENION AT LINCOLN; Lincoln/
Mandeville, Manchester 22 UNIT HIGH END Town Home Estate. Is both approved
by Parish Council and NEPA. Gated 24 HOUR SECURITY. Designed for the
security conscious business professional or Family. Large units designed
with higher income bracket in mind. CAREIF as part of its developments
strategy to enhance communities will be also developing the Lincoln Square cosmetically to ensure the highest quality neighborhoods. This is an
excellent buy for Investors who will take advantage of the appreciation.
The Estate has only 2 and 3 Bed Room with each bed room having its own
Bathroom. Units vary between 22,000 - 36,000sq feet.
COUNCIL APPROVED DEVELOPMENT:-
- Wentworth Village is 56 lot
development. Lots start at over half an acres in size. 17 LOTS will be
available to other developers or investors for Estate Houses which they
can sell to the end-user. Other sites will be used for a mix of Affordable
Condos, Affordable Town Homes; Rental Apartments as well as hotel and
villas for the local and international tourism product. Infrastructure
work will be completed by September 2009. Open market sales will begin as
early as March 2009.
The developments listed are all
approved and are now seeking Funding through Joint Venture partners; financial institutions
and or Developers interested in building. Expected to break ground by Mid 2009.
BUILD OUT PERIOD IN 24-30 MONTHS. Open market sales to end-users will begin
between March and June 2009. 1,200 square feet units will go on the open Market
at Minimum USD$450,000.00
- Phenion On The Ridge http://www.careif.com/developments1.php#phenionridge
Our Resort Hotel Condo Development has openings for 10-20
Joint Venture partners. JV Partners minimum contribution is at a minimum
of USD$300,000.00. JV Partners will have First Right of Refusal once units
go to open market sale. Contribution will be collateralized with a 1,200sq
feet unit for each JV Partner. No minimum limit on number of positions up
to 20. Individual Real Estate Investor or Institution Welcomes.
and Gymnasium facilities available for providers, who wish to participate in
design and final look of Facilities; should apply to Phenias@msn.com or firstname.lastname@example.org . Only providers capable of
providing five star quality services are being encouraged to apply.
Perfect for The Real Estate Investor In You
Interior Design and Amenities
- Housing 1; 2 & 3 Bedroom
Units starting from 1,200square feet–over 3,600 sq. feet; additionally
there are six Penthouses of over 4,600sq feet. Minimum Investor
Participation and Contribution USD$ 300,000-380,000.00, limited positions
available. Successful Joint Venture Partners must provide; letter of
intent, proof of funds as well as source of funds from a legally
recognized financial institution , recognized under United States Federal
Banking regulations and laws, before being accepted to partnership. For
details e-mail request to email@example.com
and firstname.lastname@example.org or call 561. 839.9766
or 561. 401. 6399
- The Hotel Condo will have 20 stories
and will be the Montego Bay’s “Hip-strips” first mid-rise structure in
over 3 decades. The Complex will stand out as a land mark and an Icon for
the Montego Bay and Jamaica Tourism Landscape. If as an investor you would
like to have a most desired investment property, then The Phenion On The
Ridge is certainly the one to grab.
- When sale of the units begin in
June 2009, the price point for the smallest 1,200sqfet units will begin at
USD$ 552,000.00. This is very competitive pricing when compared to both
the cost per square foot and the size of the units to that of our closest
competitor for a resort high end project is the Palmyra resort.
- The developer will be giving
under its extended warrantee program a buy back guaranteed contracts at
end-users buying or purchase price.
If you've been
looking for the Premium and affluence of resort Celebrity Caribbean living,
Phenion On The Ridge is without a question the most opulent Resort development
planned for Montego Bay’s famous “Hip- Strip”. This area has become the premier
entertainment spot for the tourism Mecca of Montego Bay and the Island of
Jamaica whether you’re a looking for the active night life, laid back beach
culture, souvenir shopping or a quiet evening dining at an international
restaurant. If your preference if for local cuisine, there are several
outstanding restaurants to meet the most discriminating globetrotter’s
appetite. Each condominium offers stunning and dramatic views of the
shimmering Caribbean, yachters, cruise lines and pleasure boast as the glide
from east to west a-top the blue green Caribbean sea with absolute visibility
and comes with every uncompromising service and amenity you've come to expect
from a first-class, five-star resort.
Phenion On The Ridge Offers a 360 degree view of Montego Bays Harbor, the Bay
itself, Blue mountain views and jotting peninsula capped with white sand
beaches, hosting affluent resorts and villas stretching from horizon to
furnished interiors with luxurious European, American or custom designs.
- Spacious balconies
with Caribbean vistas.
Designer lobbies with cafés, DVD and Music libraries.
- ½ mile
elevated walking and jogging trail.
stainless steel appliances.
oven and gourmet cook-top stove.
- 8 feet
phone service to the USA, CANADA, Europe, Porto Rico.
internet access and hot spots for guests and residents.
high-speed, wireless Internet access
- 42 inch
- Marble window
system with piped music.
washer and dryer.
concierge for each residence.
- Private Chef
and butler available.
furnished and maintenance-free with management contract.
- Fire wall
built for quieting and sound control from neighbors.
renewable energy products optional.
safety equipment including smoke alarms.
and designer lighting.
Two Car covered Parking.
to shopping and entertainment.
access to gaming lounges.
landscaped Roof top Gardens and loungers.
water feature and fountains.
community Designer swimming pools.
- Walk to
- Walk to
world famous Margarita Ville.
to four Theatres hosting local and international productions.
- 24 Hour
to World famous Doctors Cave Beach Club.
Shuttle service to & form Sangster International Airport.
- Access to
visitor tour services.
- Easy on
demand access to Emergency Care medical service and personnel.
- Access to
24 hour Pharmacy.
- Access to
financial services such as ATM’s and Wire services.
offices; short term and or long term office facilities
- HOA fees
begins at USD$200.00 per month.
Buy Back policy from Developer at minimum original purchase price.
development and the current market offer several opportunities and
The advantages in the local
- The price points for units are
within the margins of the local real estate buyers, investors, and
home-owners. Houses of the caliber being put on the market currently sell
from US$500K and up.
- There is still a very strong
demand for real estate in Jamaica both amongst local buyers as well as
international residents who have a desire to own property there. Included
in this group are Caribbean born immigrants to the USA; CANADA AND THE UK
who have always displayed a strong desire to retire in Jamaica or at least
have vacation property there. This is therefore an assurance that
investors will not be stuck with a product that will not see realistic
- There is a shortage of similar
units on the open market in Jamaica and the Caribbean as a whole.
- Most commercial lenders dealing
in mortgages are willing to provide funding for both locals as well as
- The Jamaican government offers
low cost financing to Workers while allowing them to co-borrow from other
institutions. Having low interest rates and easy access to financing will
be an advantage in terms of absorption.
- The fact that the project is a
hotel condominium concept, in a high demand tourist rental market, will
ensure that investors and end-users real estate will maintain its value
and appreciate. The area is literally built out, with only a few parcels
available for developments purposes. Scarcity of the product will
positively affect appreciation.
- The developer will for the very
first time in a hotel condominium allow owners to manage their own
property. This will give them more control and possibly greater returns as
they do direct marketing of their own units. This we believe will increase
occupancy levels for those units if the owner is aggressively pursuing
marketing of the units.
- The owner will also be given
the added advantage of operating or subletting their units even if the
reside there. I.e. they can still take in guests on a short term or long
term basis. For those owners who are looking for subsidy to their income
or simply making extra money, while still enjoying their condo and the
Caribbean hospitality experience, this will be an asset.
- Owners will larger units can
therefore operate a Bed and Breakfast type operation. Again by increasing
the flexibility of how owners can manage and occupy their units will
increase the demand. The property can therefore be seen and function as a
residence as well as an investment/ business.
- The fact that we are catering
to professionals in business both local and international and the fact
that there are also available commercial office condos and lofts will
increase our demand. While there is obviously an advantage in operating
your business where you live, there is also added advantage in having
security to complement your lifestyle. There is high demand for real
estate in gated secure communities especially amongst business
professionals who have become more and more concerned with their personal
safety between leaving work or their businesses and going home. This
product will provide one solution to these concerns.
- CAREIF Ltd as a part of its
warrantee policy will be offering a guaranteed buy back contract to
original buyers, which can be transferred with a reassignment fee or
resale contract. This will ensure that CAREIF has first refusal on premium
units and will prevent the unit’s price form falling below original purchase
price. Buyers will therefore have confidence that they will not be paying
on a note above the re-sale value of the real estate, whether they bought
it one year or 20 years ago. This buy back contract will be signed at
point of purchases. Resultant cost associated to the extended warrantee
program will be embedded in the selling price of the unit. A minimum fee
(warrantee fee) will be charge for the additional warrantee.
- The development will attract
government incentive programs which allow the tax free importation of all
building material for the project, thus reducing the actual construction
budget and cost.
- Developers and operators also
have a 15 year tax free holiday on the property and its operations.
Generating healthy long term income is highly likely.
- The hotel condominium concept
could also offer the end-user a tax advantage. This is not giving tax
advice and the prospective investor should seek out their own tax
professionals to get advice especially when dealing across international
tax regimes and jurisdictions.
- Having easy access to the
airport with complementary shuttle pick up and drop off, conference
facility within the complex, retail, entertainment and all the amenities
of an upscale lifestyle will make this product as success.
- The Jamaican Government gives
strong support to the Hotel and tourism sector via incentive programs and
advertisements internationally. This gives a marketing advantage to any
hotelier on the island.