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      Shafston  Royale:    Luxury  Community  Development  and  Resort   in  Jamaica                 July  26th  2010    

Table  of  Contents   Executive  Summary ................................................................................................................2   Introduction ....................................................................................................................................... 2   RJ  Developments  Ltd. ...................................................................................................................... 2   The  Market.......................................................................................................................................... 3   Financial  Considerations ............................................................................................................... 3   Mission ................................................................................................................................................. 5   Keys  to  Success .................................................................................................................................. 5   Objectives ............................................................................................................................................ 5   Company  Summary .................................................................................................................6   Ownership........................................................................................................................................... 6   Location ............................................................................................................................................... 7   Start-­up  Summary ............................................................................................................................ 8   The  Development.....................................................................................................................8   Investment  Opportunity...............................................................................................................10   Costs  Involved  in  Buying  a  Property  in  Jamaica...................................................................12   Market  Analysis..................................................................................................................... 12   Environment  Scan ..........................................................................................................................12   Technological  Environment ...................................................................................................................... 12   Economic  Environment............................................................................................................................... 13   Socio-­cultural.................................................................................................................................................. 13   Political-­legal  Environment ...................................................................................................................... 14   TESP  Summary............................................................................................................................................... 15   Industry  Analysis............................................................................................................................15   Tourism  Industry  Overview....................................................................................................................... 15   Real  Estate  Industry  Overview ................................................................................................................. 16   Strategy  and  Implementation........................................................................................... 17   Sales  Strategies................................................................................................................................17   “The  Company”  Analysis ..............................................................................................................17   Corporate  Level  Strategy ........................................................................................................................... 18   Business  Level  Strategy............................................................................................................................... 18   Marketing  Strategy.........................................................................................................................18   Competitive  Analysis  -­  Golf  Courses  in  Jamaica ...................................................................19   Marketing  Mix..................................................................................................................................20   Product.............................................................................................................................................................. 20   Place ................................................................................................................................................................... 21   Price.................................................................................................................................................................... 21   Promotion ........................................................................................................................................................ 21   Conclusion............................................................................................................................... 22   References............................................................................................................................... 23   Contact  Information............................................................................................................. 24      

 

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Executive  Summary     Introduction     RJ   Developments   Ltd.   (RJDL)   has   been   developing   and   managing   properties   on   a   large  scale,  internationally,  for  over  twenty-­‐five  years;  and  the  owner  Robert  Wong   has   resided   in   the   B.V.I.   for   the   last   eighteen   years.   Robert   has   focused   his   attention   primarily   in   the   areas   of   real   estate/property   development   (Vista   Del   Mar   Estate,   Tortola),  contracting  and  constructing,  restaurant/food  and  hospitality  sectors  and   the   automotive   services   sector   (Tola   Mitsubishi   Motors,   Tortola).   RJDL,   located   in   the   B.V.I.,   has   the   sole   mission   to   provide   an   exclusive,   private   community   atmosphere   that   is   host   to   the   most   exclusive   luxury   homes   in   the   territory.   RJDL   provides  all  the  necessary  services  required  during  the  building  processes  to  ensure   that   homeowners   make   the   transition,   enjoyable   and   uninterrupted.   RJDL’s   owners,   Robert   Wong   (CEO)   &   Nathan   Wong   (GM),   are   teaming   up   with   an   American   investor  Edward  R.  Stroh.  Ed  Stroh  is  a  managing  partner  of  a  hospitality  business,   located   in   the   British   Virgin   Islands   (“Virgin   Queen”),   and   has   resided   in   the   B.V.I.   since  1999.  These  three  individuals,  Robert  Wong,  Nathan  Wong  and  Edward  Stroh   will  create  the  company,  that  will  kick-­‐start  this  luxury  development  in  Jamaica.  The   primary   target   market   includes   middle   to   high-­‐income   investors   that   share   an   interest   in   luxury   homes   and   Caribbean   living.   The   company   has   not   yet   complete   registration   therefore   it   will   be   referred   to   as   simply   “our   company”   or   “the   company”  throughout  this  report.    

RJ  Developments  Ltd.     RJDL   has   established   itself   as   a   reputable   residential   development   company   in   the   B.V.I.  and  is  currently  seeking  a  greater  international  presence  within  the  real  estate   industry,  particularly  in  Jamaica.  The  company’s  owners  plan  to  gain  a  high  level  of   interest   through   multiple   international   investors,   regarding   a   development   project   that   will   earn   its’   investors   substantial   returns   long   into   the   future.   Currently   the   company’s  main  clientele  (homeowners  and  business  owners)  consists  of  residents   of  the  B.V.I.  and  expatriates,  residents  of  the  United  States,  United  Kingdom,  South   Africa,   and   Egypt.   These   clients   seek   a   community   of   individuals   that   demand   the   highest   level   of   professionalism,   and   quality   workmanship,   as   one   would   expect   when  making  a  significant  lifetime  investment.  RJDL  has  successfully  attracted  these   people  and  it  is  attributed  to  their  ability  to  understand  this  specific  demographic  as   well   as   the   rapidly   changing   market   trends   in   past   years.   For   more   information   regarding   RJDL   and   their   most   recently   custom   built   homes   visit   www.vistadelmarbvi.com.   There   are   only   a   few   similar   luxury   community   developments   in   the   B.V.I.   with   the   same   level   of   security   and   exclusivity   that   are   located   within   a   private   estate;   some   examples   include   Trunk   Bay   (Tortola),   Little   Bay  (Virgin  Gorda)  and  Oil  Nut  Bay  (Virgin  Gorda).    

 

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The  Market     The   real   estate   market   in   Jamaica   has   no   restrictions   on   foreigners   to   buy   land.   Similarly,   there   are   no   foreign   exchange   restrictions   either;   therefore   money   can   flow   freely   to   and   from   the   country.   The   real   estate   market   in   Jamaica   has   seen   steady   growth   since   1998,   specifically   in   the   surrounding   areas   around   Negril   and   Montego  Bay.  These  two  areas  specifically  have  become  the  prime  areas  for  all  real   estate   developers   in   Jamaica.   For   example,   “in   areas   like   Negril   and   Montego   Bay,   villas  and  houses  sell  for  at  least  JM$89  million  (US$1  million).  The  north  coast  has   the  most  expensive  residential  properties  in  Jamaica.  Montego  Bay,  Discovery  Bay,   Negril   and   Portland   are   among   the   prime   locations   that   have   seen   numerous   developments  in  recent  years.     • Palmyra  Resort  and  Spa  –a  development  located  in  Rose  Hall,  Montego  Bay,  which   offers  26  villas  and  5  condo  buildings.  Prices  range  from  JM$44.5  million   (US$500,000)  for  studio  units,  to  JM$311.5  million  (US$3.5  million)  for  villas   • The  Colony  –  offers  18  new  plantation  houses  at  Half  Moon,  Montego  Bay.  Pre-­‐ construction  house  prices  start  from  JM$204.7  million  (US$2.3  million).   About  three-­‐quarters  have  been  reserved.  Construction  is  expected  to  finish   in  2010   • Goldeneye  Resort  –  an  18-­‐acre  seaside  community  in  Oracabessa.  Prices  range   from  JM$66.8  million  (US$750,000)  for  one-­‐bedroom  ‘Bond’  suites,  to   JM$284.8  million  (US$3.2  million)  four-­‐bedroom  lagoon  villas   • Richmond  Development  –  a  500-­‐acre  resort  residential  community  in  St.  Anne,  on   the  northern  coast.  Two-­‐bedroom  apartments  cost  JM$14.7  million   (US$165,000);  three-­‐bedroom  apartments  are  priced  at  JM$17.4  million   (US$195,000);  and  four-­‐bedroom  townhouses  at  JM$32  million   (US$360,000)   • Highlands  -­‐  a  gated  subdivision  in  Montego  Bay.  The  development  offers  100  lots   for  about  JM$31.2  million  (US$350,000)  per  lot”1  

Financial  Considerations       The   assumptions   and   start-­‐up   costs   required   are   outlined   in   the   table   below,   it   shows  the  capital  that  will  be  required  for  start-­‐up  (Phase  1),  and  allow  us  to  be  well   on   our   way   to   beginning   other   phases   of   the   development.   The   capital   that   is   required   of   outside   investors   will   be   used   to   support   operations   before   revenues   reach  an  acceptable  level  to  maintain  a  positive  cash  flow,  which  will  be  generated   from  the  resale  of  the  various  pieces  of  land.                                                                                                                     1  Global  Property  Guide  -­‐  The  state  of  Jamaica's  real  estate  market    

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The  company  expects  to  become  profitable  within  three  years  and  see  regular  cash   flows   following   the   first   sale   of   the   various   pieces   of   residential   land   planned   for   development.  We  expect  to  sell  ten  lots  [presales],  various  sizes,  prior  to  completing   the   registration   process   and   this   will   be   our   break   even   point   for   marketing   and   advertising  as  well  as  partial  loan  repayments,  in  order  to  continue  to  sell  land  and   to   fund   other   developments,   that   will   be   included   in   the   project   from   Zones   A   through   D   (See   Figure   3).   In   year   two   we   expect   to   sell   15-­‐20   more   lots,   and   start   selling  the  commercial  contracts  for  the  hotel  construction/management  as  well  as   the   golf   course   and   associated   facilities.   The   following   table   below   is   based   on   the   development  of  Phase  1,  which  is  to  include  only  Zone  B  (See  Figure  3).       Shafston Pen

Development Costs Assumptions Total Area for Service Lots No. Of Lots (¼  

167.0

acre  and  larger)

668.0 4,175.0

Length of Roads

Expense Items Items 1

2 3

Description Professional Fees Architect Engineers Surveyors Quantity Surveyors Legal Fees

Acres Lots Meters

Costs (US$) $83,500 $190,857 $171,771 $155,071 $212,848

SUB TOTAL

$814,048

Infrastructure Government Application Fees Utilities (Electricity, Water, Sewage etc)

$2,701,471 $405,221

SUB TOTAL

$5,606,691

TOTAL EXPENSES

$6,420,739

$2,500,000

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Mission       Our  company’s  mission  is  to  introduce  a  luxurious  gated  residential  community  with   all   the   trimmings   of   a   tropical   lifestyle.   This   luxurious   real   estate   development   would  include  a  signature  golf  course,  over  1400  plots  (¼  acre  +)  of  land  for  sale,  a   one  of  a  kind  sporting  complex  and  various  facilities,  a  200  room  hotel  and  endless   opportunities   for   investors,   in   the   newest   and   most   exclusive   neighborhoods   in   this   pristine   section   of   Jamaica.   Investors   would   enjoy   immediate   and   consistent   property   value   increases   as   the   subsequent   zones   throughout   the   development   progress.    

Keys  to  Success     Our  keys  to  success  over  the  next  three  years,  to  remain  profitable  and  continue  to   grow  exponentially  as  a  company,  are  as  follows:      Continue   developing   in   current   markets   in   which   RJDL   has   been   active   in   for   last   several   years,   maintaining   these   contacts   and   business   relationships   will   prove   beneficial   for   developing   abroad   in   new   markets.   RJDL   will   use   their   own   additional   cash   flows   from   their   operations   to   filter   into   the   Jamaican   development  to  assist  with  start-­‐up  costs,  until  it  becomes  self-­‐sufficient    Keeping   close   contact   with   local   (Jamaican)   business   professionals   in   order   to   establish   local   ties   and   experience,   while   building   a   solid   foundation   and   most   importantly   reputation   for   future   business   that   our   company   is   involved  in,  throughout  Jamaica    Provide   all   investors   from   the   beginning   with   a   thorough   and   extremely   professional  service  experience,  with  regards  to  consultations,  appraisals  of   land   and   construction,   sales   information   and   meetings,   take-­‐away   information  including  pamphlets,  brochures,  website  etc.      Establish  our  team  of  industry  professionals  that  we  can  come  to  expect  the   highest   level   of   professionalism   and   productivity   required   for   such   a   development.   Examples   of   such   industry   professionals   will   include;   Architects  such  as  Millingen  Architect,  Land  Surveyors  such  as  Ivor  Stewart   and   Associates,   Marketing   professionals   such   as   Market   Opportunities   Unlimited   (MOU-­‐Jamaica)   &   Marketing   Strategy   Ltd.   (MSL-­‐Jamaica),   Quantity   Surveyor   Robert   Blankson   and   Associates,   Civil   Engineer   Carl   Chin   and   the   list   will   continue   to   grow   as   the   development   stages   begin   to   snowball   and   the  ground  breaking  stages  of  construction  begin    

Objectives     The  three-­‐year  goals  for  our  company  are  as  follows:      

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 Establish  a  global  marketing  campaign  in  the  first  3  months  to  increase  our   exposure  and  intentions  regarding  the  development    Get   plans   for   the   development   (including   surveyors   plans)   approved   to   prepare   land   to   be   sold   in   smaller   sub   sections   to   investors   in   the   first   12-­‐15   months    Achieve   break-­‐even   by   year   three,   be   well   on   our   way   towards   developing   Zone   B   167   acres,   668   lots   (See   Figure   3)   and   have   the   provisions   started   for   the  next  phase  of  the  project  (either  the  hotel  or  the  golf  course)    By  year  three  pay  off  our  initial  investors,  used  to  acquire  the  764  acres  and   re-­‐negotiate  any  new  investment  opportunities  for  them,  if  interested    Establish   minimum   95%   customer   satisfaction   rate   to   establish   long-­‐term   relationships  with  our  clients  and  create  more  word-­‐of-­‐mouth  marketing  

Company  Summary     Ownership     The   sales   and   marketing   will   be   solely   under   the   control   of   our   company,   which   is   a   joint   ownership   between   Robert   Wong,   Nathan   Wong   &   Edward   Stroh.   Once   the   necessary   steps   of   development   are   under   way   various   contractors,   management   firms,  suppliers,  distributers,  investors  etc.  will  become  part  of  the  working  partners   to  assist  in  developing  the  764-­‐acre  development  located  in  Westmoreland,  Jamaica.       Robert   Wong   has   been   an   entrepreneur   since   graduating   college   in   1973.   He   has   owned/managed  over  4  different  restaurants  throughout  Ontario,  Canada  as  well  as   in   the   USVI.   He   was   also   a   real   estate   developer   in   Canada   for   16   years,   before   relocating  to  his  original  home  in  the  British  Virgin  Islands  back  in  1995.  Since  1995   he  co-­‐owned  and  turned  Tola-­‐Mitsubishi  Motors  with  brother  Bruce  Wong  into  the   largest   car   dealership   in   the   B.V.I.   and   the   dealership   is   still   owned   and   managed   by   Bruce  Wong  today.  Most  recently  Robert  has  reunited  with  his  passion  as  a  luxury   property   developer.   In   the   last   7   years   Robert   has   turned   RJ   Developments   Ltd.   (his   contracting   company)   into   a   great   success,   with   major   contracts   with   Digicel   Telecommunications   in   the   B.V.I.,   but   primarily   Robert   has   focused   his   time   and   energy  on  his  two  community  development  projects,  Vista  Del  Mar  Estate  and  Island   Villas,  where  he  has  built  a  total  of  5  custom  built  luxury  homes.       Nathan   Wong   (Robert’s   oldest   son,   25)   has   been   visiting   the   USVI   and   B.V.I.   since   1995,  and  has  worked  alongside  his  father  since  2003  building  homes  and  working   at   the   Mitsubishi   car   dealership   during   his   summer   vacations   from   University   and   College.   Nathan   graduated   from   Fanshawe   College   and   obtained   a   two-­‐year   Marketing   diploma   with   high   honors.   He   then   continued   his   post-­‐secondary   education   at   Carleton   University   in   Ottawa,   Canada.   He   also   graduated   with   high   honors   from   Carleton,   obtaining   a   4-­‐year   Bachelor   of   Commerce   degree   with   a   concentration   in   International   Business,   as   he   knew   at   an   early   age   he   wanted   to   work  in  the  B.V.I.  alongside  his  father,  and  one  day  become  an  entrepreneur  himself.  

 

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Nathan  has  also  obtained  three  years  of  professional  sales  training  in  Canada  from   the   largest   property   maintenance   company   in   the   country,   Spring   Masters   Canada   Inc.  Nathan  was  consecutively  ranked  within  the  top  ten  sales  performers  over  his   three  years  with  the  company,  out  of  1200  sales  professionals.       As   mentioned   previously   Edward   Stroh   is   a   managing   partner   of   a   hospitality   business,   located   in   the   British   Virgin   Islands   (“Virgin   Queen”),   and   has   resided   in   the   B.V.I.   since   1999.   Prior   to   his   move   Ed   was   an   international   marketing   analyst   with   the   Stroh   Brewery   Company   in   Detroit,   Michigan   from   1994   to   1999.   Ed   was   also  a  board  member  of  Stroh  Companies  and  River  Place  Financial  Corporation  in   the  United  States  early  in  his  career.      

Location     The   proposed   development   (marked   by   flag)   is   located   in   Bluefields   Bay   in   the   parish   (administrative   district)   of   Westmoreland.   Bluefields   is   the   second   largest   city  in  the  Westmoreland  parish  after  Negril  (to  the  West),  along  the  Southwestern   coast   of   Jamaica.   Bluefields   is   25-­‐Miles   (40   Km)   south   of   Montego   Bay   (closest   international   airport),   and   22-­‐Miles   (35   Km)   East   of   Negril,   and   6-­‐Miles   (10   Km)   Northwest   from   Sandal’s   Whitehouse   Resort.   Savanne-­‐La-­‐Mar,   just   8.5-­‐Miles   (14   Km)   Northwest   from   the   development   is   the   areas   prominent   commercial   district.   This  can  be  seen  on  the  map  below.       Figure  1  

 

 

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Start-­‐up  Summary     In   the   first   three   months   of   the   planning   phase   for   the   developments   Zones   B   &   D   (See   Figure   3)   it   will   take   roughly   3   months   to   complete   the   boundary   and   topographical  surveys,  structural  designs,  and  legal  transactions.  It  will  take  roughly   2  months  to  complete  subdivision  design  and  splinter  titles.  To  get  the  government   approvals   roughly   6-­‐9   months   and   setting   out   the   lots   will   take   9   months   to   complete.  Infrastructure  works  for  zones  B  &  D  in  the  development  will  take  roughly   12-­‐24  months.  This  will  consume  a  total  area  for  service  lots  of  350  acres,  however   phase  1  of  the  development  will  only  include  Zone  B  (see  Figure  3),  which  consists   of  167  acres,  668  lots  for  resale,  of  various  sizes  (¼  acre  and  larger),  and  also,  over   4000  meters  of  roads.  There  will  also  be  an  Environment  Impact  Assessment  (EIA  or   EIS)  that  should  take  2  months  to  complete.  The  length  of  time  required  to  complete   an   EIA   will   depend   to   a   great   extent   on   the   nature   of   the   proposal   and   the   availability  of  environmental  information  on  the  project  and  the  geographic  area  in   question.   The   table   below   summarizes   this   schedule   of   events,   which   are   to   take   place  immediately.       Figure  2    

 

The  Development     Nestled   between   Savanne-­‐La-­‐Mar   and   one   of   Sandals’   premier   properties   in   the   Caribbean   lies   over   764   acres   of   undisturbed   real   estate.   This   pristine   property   is   further  divided  into  four  (4)  zones:     Zone  A  will  consist  of  300  acres  where  a  signature  golf  course  will  be  constructed   on   150   acres   and   the   remaining   land   will   be   used   to   develop   a   residential   community  of  larger  homes/lots  in  and  around  the  golf  course.  All  the  homes  in  this   zone   will   have   direct   access   to   fairways   and   or   greens.   This   Zone   will   also   include   world-­‐class   tennis   facilities,   a   breath   taking   Spa   and   Country   Club,   along   with   40   luxury  suites.    

 

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Zone  B  will  consist  of   167  acres  of  pedestrian  village  and  multi-­‐family  housing  on   1/4,  1/2,  3/4  &  1-­‐acre  lots  (starting  at  $50,000  U.S.)  that  would  be  surrounded  by   vast  recreational  areas.     Zone   C   will   consist   of   a   one   of   a   kind   sporting   complex   and   a   200-­‐room,   5   star   boutique  hotel  facility.     Zone   D   will   be   200   acres   of   eco-­‐homes   and   trails   with   great   emphasis   on   total   sustainable   designs.   The   lot   sizes   here   will   be   larger   than   other   zones   due   to   the   grade/slope   of   the   land.   Lots   in   Zone   D   will   vary   from   2   to   3   acres   in   size,   surrounded   by   vacant   land   used   for   hiking   trails,   rock   climbing   and   lookout   areas   overlooking  the  ocean.         It   is   important   with   any   large   project   that   there   be   an   emphases   placed   on   preserving  the  environment  since  the  impacts  associated  with  developing  the  land   can  sometimes  be  compromising  for  future  generations.  As  mentioned  earlier  there   will  be  an  EIA  performed  within  the  first  couple  months  of  the  development  phases   (See   Figure   2).   This   will   allow   everyone   involved   with   the   project,   and   projects   surrounding   “Shafston   Royale”   to   make   efficient   use   of   the   land   for   many   years   to   come.   The   EIA   will   aim   to   protect   natural   resources   such   as   trees,   water   and   land   throughout  the  764-­‐acre  development  by  reducing  pollution  levels  during  and  after   construction.   Proper   waste   management   will   be   another   issue   that   will   help   maintain  the  natural  ecosystem  in  the  area.       Following   the   construction   phases   and   into   maintaining   the   homes   it   will   be   important   to   encourage   a   green   community   development   by   offering   renewable   energy  sources  such  as  wind  generated  power  or  solar  energy,  that  can  save  on  the   costs  associated  with  maintaining  a  home.  Some  examples  may  include,  solar  water   heaters,   solar   roof   shingles,   and   solar   panels   or   wind   turbines   for   providing   electricity   to   your   home.   When   all   these   precautionary   steps   are   put   in   place   it   minimizes   the   damage   on   the   natural   environment   when   developing   the   land   in   Westmoreland,  Jamaica  and  makes  for  a  more  attractive  long-­‐term  investment.       Beach  Access     One   mile   from   the   entrance   of   the   development   there   is   a   parcel   of   land   with   uninterrupted  views  of  the  ocean.  Even  though  70%  of  the  development  has  views   of   the   ocean,   it   is   important   to   have   direct   access   to   a   beautiful   white   sand   beach   as   well.   This   is   why   there   will   be   two   acres   of   water   front   property   entirely   for   the   use   of  residents  of  this  luxury  gated  community,  as  well  as  visitors  staying  at  the  hotel,   using   the   golf   course   etc.   The   land   will   have   direct   access   to   a   large   white   sand   beach,   an   entertainment   facility,   outdoor/water   sports   and   dining   areas   for   all   to   enjoy.  There  will  be  permanent  shuttles  making  it  convenient  for  everyone  to  visit   the   beach   when   needed,   while   maintaining   a   secure   and   safe   environment   free   of   flooding   at   their   home/property,   something   that   is   sometimes   associated   with   Caribbean   weather   systems   and   coastal   real   estate.   Essentially,   this   particular    

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situation   saves   investors,   homeowners   and   developers   money,   and   provides   everyone   looking   to   purchase   land   in   Jamaica   an   opportunity   for   a   piece   of   affordable  Caribbean  luxury.     Lastly,  Zone  B  would  be  the  first  part  of  this  project  to  be  developed  and  investors   would  not  only  have  an  opportunity  to  be  a  part  of  the  newest  and  most  exclusive   neighborhoods  in  this  pristine  section  of  Jamaica,  they  would  also  enjoy  immediate   and  consistent  property  value  increases  as  the  subsequent  zones  develop.  

Investment  Opportunity     This  entire  property  is  located  in  close  proximity  (1000  ft)  to  a  main  highway  and  is   accessible  by  paved  roads  with  all  the  required  utility  services  already  located  at  the   site  boundary.  Due  to  the  high  level  of  diversity  within  this  development,  each  zone   will   have   access   to   varying   vistas   that   range   from   the   stunning   Caribbean   Sea   to   the   lush  rolling  mountains.  In  these  recent  years  of  global  development,  it  is  extremely   rare   that   an   investor   gets   this   level   of   access   to   be   an   integral   part   of   such   an   exclusive   development   at   the   inception,   thus   allowing   them   to   have   the   ability   to   realize  such  short  term  and  consistent  value  from  their  investment.     Investors   have   varying   levels   of   commitment   and   associated   returns   once   getting   involved   in   this   development.   For   investors   who   are   willing   to   invest   $1.5   million   U.S.  they  will  earn  7%  bi-­‐annual  interest  payments  from  our  company  (repayment   of   loan   to   be   received   within   3   years).   For   those   investors   that   would   prefer   land   to   develop  (rather  than  interest  payments)  a  large  parcel  of  land,  40  acres  in  size,  can   be  given  in  exchanged,  with  the  assumption  that  the  planning  and  communication  is   kept   between   the   two   parties   involved   to   ensure   that   the   development   remains   consistent.  For  long-­‐term  loans  (greater  than  3  years)  associated  with  financing  the   infrastructure   works,   points   will   be   given   (as   a   percentage   of   the   transaction)   and   a   charge  will  be  put  on  the  167-­‐acres  associated  with  Zone  B;  no  land  holding  license   is   required   for   foreigners.   For   more   information   call   Robert   Wong,   see   contact   information  on  page  23.                              

 

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Figure  3    

  Figure  4    

 

 

 

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Costs  Involved  in  Buying  a  Property  in  Jamaica     Stamp   duty:   is   equally   shared   between   the   buyer   and   the   seller.   Currently,   stamp   duty  is  charged  at  5.5%     Registration   fee:   a   fixed   multiplier,   shared   by   the   seller   and   buyer,   0.05%   to   0.0025%  from  the  selling  price     Agreement   for   Sale:   Total   for   the   preparation   of   agreement   for   sale,   tax   registration   form   and   other   miscellaneous   costs   are   typically   split   evenly   between   buyer  and  seller.  These  costs  are  around  0.4%  of  property  value.     Transfer  tax:  7.5%  of  property  price,  which  is  paid  by  the  seller2  

Market  Analysis     Environment  Scan   Technological  Environment     In   any   business   environment   organizational   competitiveness   can   be   directly   correlated   with   a   countries   technological   environment   and   capacity   to   operate   efficiently   alongside   modern   technology.   Such   technologies   within   the   global   business   world   may   include,   “quality   management   (QM)   programs,   traditional   information   systems   (TIS),   as   well   as   two   newly-­‐emerging   types   of   information   systems   (IS),   e-­‐commerce   (E-­‐C)   and   customer   relationship   management   (CRM)   systems,   the   organization's   culture,   and   perceptions   of   organizational   performance.”3  There  have  been  studies  performed  specifically  on  Jamaica  in  these   different  areas  of  technology  and  the  findings  suggest  that  Jamaica  has  established   “mature”   relationships.   This   suggests   that   Jamaica   adopts   this   new   technology   quicker  than  most  of  its  competing  Caribbean  nations.       There  are  several  theories  that  have  been  tested  and  proven  viable  explanations  as   to   why   Jamaica   can   easily   adopt   new   technologies   and   implement   it   into   their   business  with  little  difficulty.  One  theory,  “Hofstede's  (1983)  finding  that  Jamaica  is   notably  low  in  uncertainty  avoidance.  Ronen  (1986),  compiling  the  results  of  several   of   Hofstede's   studies,   points   out   that   Jamaica   is   the   second   lowest   country   [in   the   world]   in   uncertainty   avoidance,   with   Singapore   ranked   in   the   lowest   position.”4   This  implies  that  many  business  owners  and  managers  are  not  concerned  with  the   level  of  risk  associated  with  implementing  new  technologies;  Jamaica  is  a  risk-­‐taking   society.  Another  theory  is  that  due  to  Jamaica’s  culturally  diverse  population  (more                                                                                                                   2  Sharon  (2010)  -­‐  Jamaica  real  estate  and  rentals   3  Hartman  &  Fok  -­‐  Exploring  the  use  of  various  technologies   4  Hartman  &  Fok  -­‐  Exploring  the  use  of  various  technologies    

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so   than   most   other   Caribbean   and   Latin   American   countries),   Jamaica’s   culture   may   in   fact   provide   the   kind   of   flexibility   and   openness   to   uncertainty   necessary   for   adopting  new  business  processes  i.e.  new  technology.      

Economic  Environment     Jamaica's  economy  is  highly  dependent  on  the  services  sector,  in  particular  tourism,   which   accounts   for   about   65   percent   of   their   GDP.   As   the   largest   among   the   12   English-­‐speaking  Caribbean  nations,  Jamaica  occupies  a  preeminent  position  in  the   region.   However,   Jamaica's   economic   performance   has   struggled   compared   to   that   of  its  neighbors  in  the  past  2  years.  Due  to  the  global  economic  crisis,  combined  with   the   government’s   high   public   debt,   Jamaica   has   found   itself   struggling   to   achieve   positive  signs  of  economic  growth.5     Since   Jamaica’s   economy   is   not   as   diversified   as   some   other   leading   Caribbean   economies,  such  as  Trinidad  &  Tobago  or  the  Dominican  Republic,  Jamaica  must  rely   mainly   on   their   tourism   and   mining   industries   to   generate   the   majority   of   their   annual   GDP.   Jamaica’s   economic   growth   has   been   affected   dramatically   due   to   the   struggling   U.S.   and   European   economies,   where   much   of   the   tourists   in   Jamaica   originate.   “Although   the   island   has   proved   one   of   the   most   resilient   tourist   destinations   in   the   Caribbean,   as   demonstrated   by   the   3.6%   increase   in   tourist   arrivals  in  2009  during  the  peak  of  the  global  economic  downturn,  the  recent  bout   of   violence   in   Kingston   is   likely   to   be   a   more   significant   test   of   the   industry   than   the   global   downturn.”6   One   thing   to   realize   is   that   most   countries   have   been   affected   by   this  global  economic  crisis  in  a  similar  way,  if  not  worse,  than  Jamaica  and  growth  is   expected  to  return  back  to  normal  in  coming  years.7      

Socio-­‐cultural     The   island   of   Jamaica   is   home   to   the   largest   English-­‐Speaking   population   in   the   entire   Caribbean,   with   a   population   of   over   2.7   million   people.   This   attribute   can   be   extremely  beneficial  in  the  tourism  industry  and  save  local  business  owners  a  lot  of   money,   through   satisfying   their   customer’s   needs   with   a   clear   means   of   communication.   “The   capital,   Kingston,   is   the   largest   English-­‐speaking   city   in   the   Western  Hemisphere  south  of  Miami.  Education  in  Jamaica  is  free  and  compulsory   until   the   age   of   14,   and   the   country   has   a   literacy   rate   of   about   87.9   percent,   according   to   recent   estimates.”8   Throughout   Jamaica’s   history   emigration   into   Canada,   the   United   Kingdom   and   the   U.S.   has   always   been   high.   There   is   an                                                                                                                   5  Country  Watch  Inc.  -­‐  Economic  Overview  -­  Jamaica   6  Latin  America  Monitor:  Caribbean  Monitor  -­‐  Risk  Summary  -­  Jamaica   7  Rosa,  T.  -­‐  Caribbean  Investor  Report   8  Jamaica  Country  Review  –  People      

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estimated   20,000   Jamaican’s   that   immigrate   into   the   United   States   annually9   and   many   of   these   immigrants   contribute   a   significant   portion   towards   Jamaica’s   GDP   through  remittances,  as  well  as  purchasing  land  in  their  country  of  origin  and  this  in   turn  continues  to  help  Jamaica’s  economic  growth.       Just   thinking   of   a   good   dish   of   Jamaican   food   especially   the   jerk   chicken   and   pork   can  make  the  mouth  water  and  the  stomach  rumble.  Jamaican  food  is  traditionally   very   hot   and   spicy   and   a   mixture   of   all   the   cultures,   jerk   meat   (African),   curry   (Indian),  Christmas  pudding  (European)  and  chop  suey  (Chinese).     Reggae  and  its  derivatives  such  as  dance  hall,  rock  steady  is  key  for  the  development   of  Jamaican  culture.  This  music  has  its  origins  in  Jamaica  and  cannot  be  claimed  by   any   other   nation.   The   captivating   type   of   music   has   led   to   a   growing   following   around  the  world.     People   who   visit   the   tiny   island   can   enjoy   an   unforgettable   vacation   filled   with   friendship,  hospitality,  and  insight  into  the  Jamaican  way  of  life.  The  unique  aspects   of   Jamaica's   rich   endearing   heritage   can   be   seen   in   the   people,   culture,   music,   cuisine  and  natural  landscape  and  it  is  one  of  a  kind  in  Jamaica.    

Political-­‐legal  Environment     The  political-­‐legal  environment  has  long  been  a  risk  for  business  owners  in  Jamaica,   however   with   every   business   venture   there   are   associated   risks.   Violence   has   always   plagued   the   island   of   Jamaica   (more   notably   Kingston)   and   for   the   current   Prime  Minister  Bruce  Golding,  the  story  is  no  different.  His  administration’s  lack  of   control  over  gang-­‐controlled  areas  throughout  Kingston  has  hindered  their  ability  to   implement   several   anti-­‐crime   bills   that   were   first   proposed   in   2008.   While   these   measures  are  likely  to  be  viewed  more  favorably  by  investors,  in  comparison  to  the   use   of   the   armed   forces   to   combat   the   rising   crime   rate,   it   is   not   likely   that   they   will   have  a  significant  impact  on  reducing  crime  in  the  capital.10  It  is  expected  however   that  the  current  administration  will  no  longer  be  in  power  following  the  upcoming   elections   in   2012,   due   to   their   inability   to   make   lasting   security   changes,   not   to   mention  that  they  have  continued  to  put  the  country  further  and  further  into  debt   through   excessive   spending.   This   could   be   the   dawn   of   a   new   era   in   politics   for   Jamaica,  something  everyone  can  look  forward  to  in  the  coming  years,  residents  and   business  owners  alike.      

                                                                                                                9  Jamaica  Country  Review  –  People     10    Latin  America  Monitor:  Caribbean  Monitor  -­‐  Risk  Summary  -­  Jamaica    

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TESP  Summary     The   overall   business   environment   in   Jamaica   has   long   been   advantageous   for   investors   both   foreign   and   domestic.   Many   of   the   threats   that   exist   in   Jamaica’s   business   environment   are   directly   associated   with   the   country’s   capital,   Kingston.   Since  Kingston  is  hours  away  from  the  prosperous  tourist  destinations  of  Montego   Bay  (80  Miles)  or  Negril  (103  Miles),  many  things  such  as  crime,  political  disputes   and/or  protests,  poor  economic  growth  and  a  hefty  public  debt  burden,  become  less   relevant,   but   should   still   remain   conscious   in   the   minds   of   investors   nonetheless.   These  obstacles  will  continue  to  set  back  social  programs  and  human  development   throughout   Jamaica,   but   have   become   less   of   an   issue   in   the   more   prosperous   western  region  of  Jamaica.  With  that  being  said,  Jamaica  will  continue  to  far  exceed   others  expectations  in  future  years,  as  well  as  continually  improve  their  reputation   in   the   global   market   place   once   showing   their   resilience   following   this   global   economic  crisis.  A  crisis  that  is  said  to  dramatically  affect  the  real  estate  and  tourism   industries  respectively  on  a  global  scale,  yet  Jamaica  remains  among  one  of  the  top   Caribbean  and  Latin  American  leaders  in  both  industries.      

Industry  Analysis   Tourism  Industry  Overview     A   solid   performance   in   2009   from   Jamaica’s   tourism   sector   helped   the   island’s   economy   avert   the   worst   of   the   downturn,   but   there   are   some   serious   threats   to   the   sector’s   short-­‐   to   medium-­‐term   outlook.   Key   among   them   is   the   opening   up   of   Cuba   to  U.S.  tourists,  who  comprise  by  far  the  largest  segment  of  arrivals  to  Jamaica.  The   anticipated   boost   in   Cuba’s   tourism   industry   has   kick   started   the   construction   of   some  50,000  new  hotel  rooms.11  This  is  something  that  Jamaica  must  anticipate  and   plan   for   to   remain   competitive   within   the   Caribbean   tourism   industry,   and   they   have   begun   to   do   so   by   offering   more   affordable   travel   packages   for   the   budget   conscious  travelers,  increasing  exponentially,  following  the  global  recession.     Tourism   revenues   in   Jamaica   hit   US$1.97bn   in   2009,   and   the   government   projects   gross  revenues  of  US$2.06bn  in  2010.  This  revenue  forecast  is  premised  on  tourist   arrivals   climbing   to   2mn.12   In   the   chart   below   it   shows   where   Jamaican   visitors   originate   from   and   the   percentage   of   their   contribution   to   the   Jamaican   tourism   industry.                                                                                                                           11  Business  Monitor  International  Ltd.  (2010)   12  Business  Monitor  International  Ltd.  (2010)    

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Figure  5  

 

 

Real  Estate  Industry  Overview     The  real  estate  industry  in  Jamaica  has  long  been  established  but  over  the  last  sixty   years  much  of  the  interest  has  spread  towards  the  west.  There  is  a  large  real  estate   market  surround  the  capital  Kingston,  but  it  is  not  particularly  for  foreign  interest.   Today  the  most  important,  and  most  developed  cities  that  have  stimulated  interest   among   foreigners   are   Ocho   Rios,   “where   there   were   less   formal   communities   of   villas  (more  like  private  estates)  sit  above  the  town,  and  Montego  Bay,  where  there   are  estates  on  the  shorelines  and  hillsides  on  both  sides  of  the  town,  such  as  Unity   Hall  and  Great  River  Estate.”  “At  the  Western  tip  of  the  island  in  Negril,  there  is  such   little   available   space   (particularly   on   the   narrow   band   between   the   beach   and   the   lagoon)  that  there  are  relatively  few  houses  to  buy.”13  Along  the  South  coast,  there   are   small   towns,   old   plantation   estate   houses,   and   villas   in   and   around   Treasure   Beach  and  Bluefields.       Prices   range   enormously   across   Jamaica   and   the   more   popular   resort   towns   are   generally   more   crowded   and   over   priced.   In   comparison   to   other   Caribbean   destinations   such   as   St.   Barths,   Barbados,   or   even   the   Cayman   Islands,   prices   in   Jamaica  offer  a  much  greater  value  in  comparison.  Jamaica  also  has  a  well-­‐developed   villa   rental   market   and   so   it   offers   good   opportunities   to   buy   a   house   as   a   rental   investment.14                                                                                                                     13  Definitivecaribbean.com  -­‐  Real  Estate   14  Definitivecaribbean.com  -­‐  Real  Estate    

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“A  four  or  five  bedroom  home  set  in  an  acre  of  gardens  in  an  established  villa  resort   such   as   Tryall   will   cost   upwards   of   US$1.5   million   and   in   the   prestigious   new   developments,   for   instance   in   the   Spring   Garden   area   of   Rose   Hall   (a   gated   community   of   4000   acres   set   in   rolling   countryside   east   of   Montego   Bay),   a   large   house   might   cost   US$3.5   million.   An   empty   lot   in   this   development   will   set   you   back   anything  between  US$200,000  and  US$1.5  million  for  a  prime  spot.  Silver  Sands  also   offers   good   value,   with   a   5-­‐bedroom/5-­‐bathroom   villa   with   pool   going   for   around   US$680,000.   Or   if   the   romantic   dream   of   two   centuries   ago   catches   you,   and   you   want  to  live  in  a  plantation  great  house,  you  can  find  one  with  4  or  5  bedrooms,  a   swimming  pool  and  15-­‐20  acres  of  land  for  between  US$500,000  and  $900,000.”15  

Strategy  and  Implementation   Sales  Strategies     From  the  time  when  the  land  deal  is  closed  up  until  the  government  and  respective   departments  approve  the  plans  (i.e.  the  registration  process  is  complete)  it  will  take   roughly   12   months   before   individual   lots   can   be   sold   to   investors.   Following   the   registration  process  and  start-­‐up  steps  (outlined  in   Figure  2),  our  company’s  sales   team   and   marketing   professionals   can   start   selling   ¼   acre   (and   larger)   residential   lots   as   well   as   larger   sections   that   can   be   subdivided   for   local   developers.   These   developers  can  enter  an  agreement  initially  as  investors  and  sell  their  piece  of  land   once  subdividing  it  into  smaller  lots,  i.e.  Build  to  sell.  Obviously,  the  savings  would   allow  them  to  sell  the  larger  section  of  land  in  smaller  pieces;  the  price  they  choose   to  sell  at  will  determine  their  profits.  The  large  parcel  becomes  their  responsibility   and   the   clientele   that   they   have   worked   hard   to   establish   through   their   own   business  ventures,  over  the  years,  can  enjoy  this  business  opportunity  as  well,  at  a   more   affordable   price.     Sections   of   the   development   (Zone   B   -­‐   167   acres)   will   be   subdivided  for  resale  of  residential  lots.  The  commercial  lots  will  be  developed  and   sold  off  at  a  later  date,  and  are  located  in  Zones  B  &  C  (See  Figure  3).  A  sales  office   will   be   constructed   on   site   with   one   staff   member   to   answer   inquiries   and   show   interested  people  the  land  for  sale.    

“The  Company”  Analysis     For  the  purpose  of  this  report  these  are  the  definitions  being  used  for  the  following   terms:     Corporate-­‐Level  Strategy        (The  Company-­‐wide  Strategy)   Business-­‐Level  Strategy        (The  Competitive  Strategy)    

                                                                                                                15  Definitivecaribbean.com  -­‐  Real  Estate    

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Corporate  Level  Strategy     This  involves  the  actions  we  plan  to  take  in  order  to  achieve  or  gain  a  competitive   advantage  by  selecting  and  managing  a  group  of  different  businesses  competing  in   several  industries  and  product  markets.  Our  corporate  level  strategy  will  indirectly   be   involved   in   a   couple   different   industries,   such   as   hotels   and   tourism/leisure   activities  (including  the  golf  course),  residential  and  commercial  development  (real   estate)  and  the  upscale  restaurant  industry.  Due  to  the  large  scope  of  the  project  this   diversification   will   greatly   improve   our   chance   of   success   as   well   as   favorable   returns  for  all  our  investors.      

Business  Level  Strategy     Our  company  will  be  involved  primarily  in  the  marketing  and  sales  part  of  the  value   chain.  All  of  the  development  contracts  will  be  sold  to  the  winning  companies  that   bid  on  the  contracts,  and  similarly  with  all  management  of  the  various  facilities  once   construction   is   complete.   Our   company   will   not   be   involved   in   the   supply   chain   activities,  day-­‐to-­‐day  operations,  and  distribution  of  products,  HR,  or  research  and   development   decisions.   Our   company’s   sole   mission   is   to   put   the   right   people   in   place  to  buy  the  land  that  is  made  available,  hire  the  best  available  contractors  for   the  construction  of  the  buildings,  and  hire  the  most  competent  management  teams   to  operate  our  facilities,  offices,  golf  course,  hotel  and  restaurants  etc.  We  feel  that   this   is   the   best   possible   scenario   for   everyone   involved,   our   sales   staff,   management   staff,  contractors,  homeowners,  investors,  etc.      

Marketing  Strategy     Our   primary   target   market   includes   middle   to   high-­‐income   investors,   which   share   an  interest  in  luxurious  villas  and  being  a  part  of  a  Caribbean  resort  community  that   will   provide   endless   opportunity   for   everyone   involved.   Since   there   are   no   restrictions   in   Jamaica   regarding   foreigners   buying   land   or   sending   money   to   and   from  the  country  there  is  no  geographical  limit  for  our  investing  community.  These   consumers  can  either  invest  for  their  own  personal  use,  for  resale,  or  to  provide  an   additional  income  in  the  form  of  a  rental  property.       Our   secondary   target   market   is   [primarily,   but   not   exclusively]   the   Jamaican   construction   industry   that   will   include   large   companies,   organizations,   developers,   that   will   bid   on   contracts   as   well   as   commercial   land   set   aside   intended   for   direct   use   in   producing   other   facilities   and   buildings,   a   golf   course,   a   hotel   etc.   These   investments/acquisitions   can   then   be   used   in   their   day-­‐to-­‐day   operations   to   grow   their   respective   corporate   portfolios,   and   their   investment   will   continue   to   appreciate  as  the  surrounding  residential  community  progresses.        

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Competitive  Analysis  -­‐  Golf  Courses  in  Jamaica     “There   are   around   a   dozen   golf   courses   altogether,   but   the   highest   concentration   and  the  best  are  centered  on  Montego  Bay  in  the  North  West,  where  you  will  find  six   within  easy  driving  distance.  Some  of  the  others  courses  are  around  the  other  main   resort   towns   -­‐   Negril,   Rio   Bueno,   Runaway   Bay,   Ocho   Rios   and   Port   Antonio   (nine   holes)   -­‐   but   many   Jamaicans   like   to   play   golf   too   and   so   there   are   also   a   couple   of   courses  around  Kingston  and  one  near  Mandeville  (nine  holes).       If   you   want   a   golfing   holiday,   then   your   best   bet   is   really   to   go   to   Montego   Bay,   because  of  the  concentration  of  courses  there,  as  well  as  the  levels  of  comfort.  There   are  courses  attached  to  the  following  hotels  -­‐  Half  Moon,  the  Ritz-­‐Carlton,  Rose  Hall   Resort  &  Country  Club  (all  to  the  east  of  the  town)  and  Tryall  (twenty  minutes  to  the   west)  and  of  course  if  you  are  staying  there  you  will  be  offered  preferential  tee-­‐off   times  (though  they  do  allow  outsiders).  These  courses  are  mostly  set  inland  and  so   they  are  all  fairly  hilly,  but  they  are  all  close  enough  to  the  sea  to  get  views  of  the   coast  and  for  them  to  be  affected  by  sea  breezes.  They  also  have  pros  attached  that   can  offer  instruction  of  course.”16     Since  there  are  very  few  golf  courses  in  Jamaica,  most  of  which  are  centered  in  and   around   Montego   Bay   and   the   North   coast   (See   Figure   6)   this   provides   a   great   opportunity   for   our   company.   Other   benefits   to   this   location   is   that,   not   only   is   it   located   along   the   gently   sloping   Buddles   Mountain   range   (as   well   as   the   base)   but   it   is   a   short   drive   (10   Km)   from   on   of   Jamaica’s   larger   Sandals’   locations,   Sandals   Whitehouse   Resort.   This   Sandal’s   resort   currently   does   not   have   a   golf   course   to   cater  to  its  thousands  of  visitors  annually,  and  this  location  could  service  the  needs   of  those  visitors.                                                                                                                                                     16  Definitivecaribbean.com  -­‐  Real  Estate    

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Figure  6  –  Golf  Courses  in  Jamaica  (West  of  Kingston)    

 

**  Blue  flag  marks  the  764-­acre  development  (150  acres  set  aside  for  a  golf  course)  

Marketing  Mix   Product     Positioning  Statement     Our   company   will   aim   to   deliver   the   most   sought   out   ultra-­‐exclusive   residential   community  development  in  Jamaica.  By  offering  the  best  expertise  and  service  in  the   international   property   development   industry,   our   experience   and   network   of   international   investors,   management   professionals,   and   contractors   will   provide   a   profitable  scenario  for  everyone  involved.         Branding  Statement     Our   company   will   constantly   seek   to   improve   our   search   for   Jamaica’s   most   reputable,   trustworthy   and   reliable   contractors,   so   that   the   highest   of   building   standards   are   maintained   throughout   the   development,   year   after   year.   Hiring   the   most  competent  management  firms  so  that  our  businesses  are  operating  efficiently   and  earning  a  profit,  and  other  developers  to  ensure  that  our  brand  remains  strong   throughout   the   country,   as   well   as   around   the   world.   This   will   allow   us   to  

 

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differentiate  ourselves  from  the  competition  and  maintain  a  competitive  advantage   in  both  the  Jamaican  real  estate  market,  as  well  as  the  Jamaican  tourism  industry.    

Place     In   order   to   reach   our   intended   target   markets   we   will   begin   our   global   marketing   campaign   in   a   lot   of   the   major   cities   throughout   the   United   State,   Canada,   the   Caribbean,  Europe,  and  South  America.  As  more  interest  is  generated  we  will  be  able   to   cater   to   a   larger   target   market,   and   in   multiple   languages   and   dialects   around   the   world.       Our   company   will   have   a   global   online   presence,   as   the   popularity   of   the   Internet   has   grown   and   is   expected   to   continue   growing.     This   will   provide   us   the   opportunity  to  utilize  this  Internet  growth  to  ensure  that  our  potential  and  current   customers  have  the  latest  information  available  at  their  fingertips.      

Price     Our   company   will   offer   extremely   competitive   pricing   for   ¼   lots   and   larger   (depending   on   aspect   and   location)   starting   at   $50,000   U.S.   Our   intentions   are   to   develop   this   land   consistently   over   the   next   10-­‐15   years,   and   with   over   1400   hundred  lots  this  is  an  ambitious  goal,  but  with  the  help  of  other  local  developers,   investors   and   contractors   it   is   possible.   Commercial   contracts   (i.e.   the   golf   course   and  hotel),  and  larger  parcels  of  land  to  be  developed  will  be  negotiated  in  person   upon   request.   For   pre-­‐sold   residential   lots   only,   $25,000   U.S.   can   act   as   a   deposit,   then  over  the  next  3  years  the  remaining  $25,000+  U.S.  will  be  repaid  at  5%  interest.   Once  the  registration  process  is  complete  and  construction  has  begun,  this  pre-­‐sale   financing  offer  will  no  longer  be  available;  all  lots  will  be  paid  for  up  front  or  upon   delivery  of  land  title.      

Promotion     Corporate/Commercial  Promotion     Our   corporate/commercial   promotion   plan   will   include   trade   shows   (industrial,   corporate,   tourism,   realtor   etc.);   direct   personal   selling,   advertising   in   newspapers,   magazines   and   trade   publications,   as   well   as   web-­‐site   advertising.     The   advertising   campaign   will   focus   on   creating   brand   awareness   throughout   Jamaica,   the   rest   of   the   Caribbean,   North   and   South   America,   and   Europe.     Industrial   trade   shows  will  be  used  to  promote  our  international  business  expertise  to  future  clients   in   the   leading   industries   (real   estate,   tourism   etc.)   in   Jamaica.     In   order   to   keep   in   line  with  the  Jamaican  culture,  we  will  also  use  direct  personal  selling  managers  to   establish  personal  relationships  with  key  members  of  these  target  industries.    

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  Consumer  Promotion     Our   promotional   plan   for   our   consumers   interested   in   purchasing   land   and/or   building   a   home/villa   in   the   resort   community   development   will   include   newspapers,  travel  and  real  estate  magazines,  trade  fairs,  and  most  definitely  online.   As  mentioned  previously  an  office  with  an  accompanied  sales  professional  will  be  on   site  to  answer  any  questions,  show  interested  people  the  land,  and  help  spread  by   word  of  mouth  along  the  South  coast  of  Jamaica.  Also,  as  visitors  on  their  way  to  the   near  by  Sandals  resort  travel  back  and  forth  we  will  be  sure  to  attract  their  attention   and  offer  some  incentive  for  them  to  stop  and  read  up  on  our  plans  for  development.   Many   of   the   visitors   staying   at   the   Sandal’s   resort,   especially   the   regulars,   will   be   interested  in  the  construction  of  the  golf  course,  and  quite  possible  the  land  that  is   available  in  and  around  the  fairways  and  greens.      

Conclusion     We  know  that  all  investors  will  be  in  the  best  of  hands  when  becoming  part  of  this   unique   investment   opportunity   since   our   team   of   professionals   exhibits   an   exceptionally   high   level   of   combined   knowledge,   experience   and   contacts   within   both   the   tourism   industry   and   the   international   property   development   industry.   Combine  this  security  with  a  low-­‐level  of  foreign  investment  restrictions,  the  largest   English-­‐speaking  population  in  the  entire  Caribbean  that  boasts  a  resilient  economy,   and   you   have   yourself   an   extremely   low-­‐risk   opportunity   at   your   fingertips   that   would  allow  for  immediate  and  consistent  value  increases  year  after  year.  Due  to  the   large  scale  of  the  project  and  subsequent  zones  that  would  continue  to  develop  long   into   the   future,   this   type   of   scenario   allows   everyone   involved   to   earn   their   own   additional   piece   of   wealth,   and   with   wealth   many   things   are   possible,   even   during   impossible  times.      

 

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References       Business  Monitor  International  Ltd.  (2010).  Key  sector  outlook  -­‐  Jamaica.,  27.   Retrieved  from  West  Caribbean  Business  Forecast  Report  database.   Country  Watch  Inc.  (2010).  Economic  overview  -­‐  Jamaica.  Retrieved  from  Business   Source  Complete  database.   Global  Property  Guide.  The  state  of  Jamaica's  real  estate  market.   http://www.nuwireinvestor.com/articles/the-­‐state-­‐of-­‐jamaicas-­‐real-­‐estate-­‐ market-­‐53111.aspx   Hartman,  Sandra  J.  &  Fok,  Lillian  Y.  (2009).  Exploring  the  use  of  various   technologies,  perceptions  of  success  and  organizational  culture  in   jamaica.19(3),  224.  Retrieved  from  Business  Source  Complete  via   Competitiveness  Review.   Jamaica  Country  Review.  (2010).  People.,  80.  Retrieved  from  Business  Source   Complete  database.   Latin  America  Monitor:  Caribbean  Monitor.  (July  2010).  Risk  summary  -­‐   Jamaica.27(7),  5.  Retrieved  from  Business  Source  Complete  database.   Rosa,  T.  (June  2010).  Caribbean  investor  report:  Striving  for  growth.(212),  19.   Retrieved  from  Latin  Finance  database.   Sharon.  (2010).  Jamaica  real  estate  and  rentals.  http://www.expats-­‐moving-­‐and-­‐ relocation-­‐guide.com/jamaica-­‐real-­‐estate.html     Unknown.  Real  estate.   http://www.definitivecaribbean.com/guide/Jamaica.aspx?group=5#Real%20 Estate    

 

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Contact  Information     Robert  Wong    

Nathan  Wong    

Edward  R.  Stroh  

Ivor  Stewart  

Robert  Blankson  

Millingen  Architects     Carl  Chin  

AF  Engineering    

RJ  Developments  Ltd.  (CEO)   Road  Town,  Tortola,  B.V.I.   +1  (284)  499  2998   robertwong@vistadelmarbvi.com     www.vistadelmarbvi.com   RJ  Developments  Ltd.  (GM)   Road  Town,  Tortola,  B.V.I.   +1  (284)  340  2998   nathanwong@vistadelmarbvi.com     www.vistadelmarbvi.com     Virgin  Queen  (Proprietor)   Road  Town,  Tortola,  B.V.I.   +1  (284)  494  2310   compassrose@surfbvi.com     Ivor  Stewart  &  Associates   Commissioned  Land  Surveyors,   Chartered  Surveyors   St.  Ann,  Jamaica   +1  (876)  795  1978   ivorstewart@ymail.com     Quantity  surveyor   Robert  Blankson  &  Associates   15  Tangerine  Place   Kingston  10,  Jamaica   +1  (876)  754  4976   Architect   43  Old  Hope  Road   Kingston  5,  Jamaica   +1  (876)  929  9230   Civil  Engineer   Carl  Chin  &  Associates   18  Kew  Road   Kingston  10,  Jamaica   Civil  Engineer   Unit  7A  Seymour  Park   2  Seymour  Avenue,   Kingston  6,  Jamaica   +1  (876)  927  5924  

 

 

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Jamaica Business Plan