FOR REAL ESTATE INVESTORS

 

CAREIF NEPA APPROVED DEVELOPMENTS:-

 

 

PARISH COUNCIL APPROVED DEVELOPMENT:-

 

 

 

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

 

  1. 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.

 

Restaurant; Spa and Gymnasium facilities available for providers, who wish to participate in design and final look of Facilities; should apply to Phenias@msn.com or info@careif.com . Only providers capable of providing five star quality services are being encouraged to apply.

 

 

Features include the following;

 

                              Perfect for The Real Estate Investor In You

Interior Design and Amenities

 

                                              or 561. 401. 6399

 

 

 

 

 

Amenities offered;

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 horizon.

 

Amenities include;

The development and the current market offer several opportunities and advantages;

 

The advantages in the local market

 

  1. 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.

 

  1. 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 demand.

 

  1. There is a shortage of similar units on the open market in Jamaica and the Caribbean as a whole.

 

  1. Most commercial lenders dealing in mortgages are willing to provide funding for both locals as well as international buyers.

 

  1. 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.
  2. 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.

 

  1. 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.

                      

     

  1. 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.

 

  1. 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.
  2. 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.

 

  1. 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.

 

  1. 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.

 

  1. 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.

 

  1. 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.