Round Hill Estate_Project Book

RoundHill estate

HANOVER • JAMAICA • W.I.

Introduction Invitation to Invest Developer’s Profile Executive Summary Endorsements Why Jamaica?

dream The Vision History & Character Master Plan Development Program

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Villas Condominiums

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Awaken to the possibilities

Resort Golf Sports Club Retail

Appendix Jamaica at a Glance Doing Business in Jamaica: Incentives Outline of Environmental Assets The Team

Round Hill Estate | INDEx | 1

Away from it all, with everything you desire...

One of the last properties of this calibre available on Jamaica’s “Gold Coast”, The Round Hill Estate Development offers the rare opportunity to invest in paradise.

Not your everyday sea, sun and sand, Round Hill Estate is at once a slice of history and a glimpse of the future.

A new Caribbean is dawning...

2 | INTRODUCTION | Round Hill Estate

RoundHill estate HANOVER • JAM

AICA • W.I.

Dear Investor: On behalf of Maffe ssanti Builders & Co ntractors (“Maffessa you, our prospectiv nti”) I am pleased to e partners, to Roun introduce d Hi ll Es tat e De ve Hill is one of the ne lopment (“Round Hi west and most excit ll”). Round ing mixed hospitality opportunities in the and residential deve Caribbean. This pro lopment ject marks one of ou undertakings to da r most ambitious te and will undoub tedly serve as a de fining moment not Maffessanti but als only for o the Caribbean reg ion as a de sti na tio expanding global co n of choice for the continuously mmunity.

Located in Hanove r, Jamaica, WI on ap proximately 465 ac a colourful history res of prime real es and numerous uniqu tate, with e fea tures, Round Hill pro for a development vides the ideal settin that combines the g comforts of a first wo Caribbean flavour. rld lifestyle with a dis The development tea tin ct m, led by us, has stu and the potential fin died the site, the ma ancial permutations rket an d are confident tha attractive developme t this property prese nt opportunity. nts an With over sixty (60 ) years of experienc e in construction an Maffessanti is uniqu d real estate develop ely qualified to lead ment, the execution of thi enthusiastic about s venture. We are ve the opportunity to wo ry rk together in trans expertise and marsh forming our collecti alled economic for ve passion, ce into a successfu l venture.

We look forward to hearing from you an d invite you to conta Marcus Richards, ct our transaction pa at Greystone Capit rtner, al Partners Ltd., 40 876-906-0704 ext.

Knutsford Bouleva rd, Kingston 5, 2001 should you ha ve any questions/co mments.

Yours truly,

Giuseppe Maffess anti

Managing Director

Round Hill Estate Dev

dream • live • play elopment Ltd. Bogue

Industrial Estate, Mon

tego Bay, Reading P.O

. Box 38, St. James,

Jamaica, W.I. Tel. (876 ) 952 5060

Fax (876) 952 7681

Developer’s Profile Maffessanti Builders & Contractors Ltd. · Maffessanti Builders’ headquarters are at Bogue Industrial Estate, Montego Bay. Giuseppe Maffessanti is Managing Director. · Its principals have been in the construction industry since 1951. · Maffessanti specializes in commercial and residential structures (new and remodeled) including rehabilitation of several historic buildings. · Projects today are mostly within the Montego Bay area. Construction involvement began in earlier years in the parish of St. Ann, with projects stretching along Jamaica’s north coast. · Maffessanti has constructed most of the houses within the Tryall Golf Club, built houses at Round Hill, Rose Hall (among them one for the late writer Pierre Daninos), Great River Private, Tamarind Hill and built the Pimento Hill House for Count DeSibor. · Maffessanti also specializes in land development and property subdivisions, including infrastructural work. Completed projects include subdivisions at Unity Hall, Great River II and Pimento Hill (west of Montego Bay).

In these subdivisions Maffessanti has built a large number of middle income houses. It recently completed subdivisions at Spring Garden, Orchard Gardens Phase One and is in the process of completing Orchard Gardens Phase Two.

Round Hill Estate | INTRODUCTION | 3

Executive Summary

Your Opportunity Round Hill Estate Development Ltd. is pleased to introduce “Round Hill Estate” • One of the newest and most intriguing possibilities for development in the Caribbean region • Over 465 picturesque acres of premium development ready real estate located in Hanover, Jamaica, W.I. • Bordering the world famous Round Hill Hotel and Villas • Located only 90 minutes from Miami by air and 20 minutes by car from the Sangster International Airport – Jamaica’s gateway to the world Most compelling residential / hospitality development investment opportunity in the Caribbean: • High demand for “affordable luxury” villas, retirement communities and family resorts • Politically stable, investor friendly environment with attractive market fundamentals, solid economic, legal and political infrastructure and active capital markets • Low supply of adequately supported development opportunities

4 | INTRODUCTION | Round Hill Estate

Significant commitment by Round Hill Estate Development Ltd. : • Acquisition of the land resulting in sole ownership and propriety of the entire parcel • Facilitation of development approvals • Appointment of top tier development team

Attractive development fundamentals: • Premium location with pristine beach frontage and magnificent mountain vistas along the historic “gold coast” • This location benefits greatly from the development and infrastructure of “The Elegant Corridor” located in nearby Montego Bay

Jamaica?

• Gateway to multiple destinations – EST Time Zone – convenient for doing business with the USA, Latin America and the Caribbean • Time zone 0-3 hours from North America and 5-6 hours from Europe • Independent Judiciary

1.9 1.8 1.7 1.6 1.5

Visitors in millions

WHY

2.0

1.4 1.3 1.2

• No foreign exchange controls

1.1

• Liberal export incentives

1.0

• Liberal import policies • Educated English-speaking workforce • Skilled and semi-skilled labour • Intensive infrastructure

‘02 ‘03

‘04

‘05

‘06

‘07

‘08 ‘09

Stopovers Total stopover arrivals in 2009 of 1,831,097, was 3.6% above the 1,767,271 recorded in 2008. This figure represents 63,826 more stopovers than in 2008.

• Efficient telecommunications • Tropical climate – www.jamaicatradeandinvest.org

Access PLACEMENT ONLY

“Jamaica is expected to be an above-average performer over the medium-term due to its diversified economy, strong airlift and operational efficiency.”

– Hotel Investment Outlook 2011, Jones Lang La Salle Hotels www.joneslanglasallehotels.com

Round Hill Estate | INTRODUCTION | 5

6 | dream | Round Hill Estate

dream The Vision

History & Character Master Plan Development Program

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The History and Character of the Site Once a sugar plantation owned by Lord Monson, encompassing approximately1,500 acres, the land was later sub-divided and sold in parts. Eventually the property became a coconut and pimento plantation. While remnants of the past still remain such as the sugar mill, the boiling house and the aqueduct, this magnificent parcel of 465 acres provides the backdrop for what is envisioned as a tropical chic, “green” resort community. Only 20 minutes by car from the bustling town of Montego Bay with its “Elegant Corridor” and state of the art Convention Centre, Round Hill Estate is tucked away in absolute tranquillity in the parish of Hanover. The 100 acre peninsula to the west of the property is the world famous Round Hill Hotel and Villas. Today, Round Hill Estate stands ready to become the next jewel of the Caribbean.

The development will feature its own magnificent golf course and is located in close proximity to two other spectacular courses, Tryall and the “White Witch” at Rose Hall.

With two streams, a verdant landscape rising to 550 feet above sea level, stunning vistas and the Caribbean Sea glistening along the coastline, the property is sure to command the attention of any savvy investor.

8 | DREAM | Round Hill Estate

the vision This new vision for the property is born out of a collaborative effort by the members of The Round Hill Estate Development team. The team has studied the site, the market and the financial models and has created a concept which will have a distinctly Caribbean feel. Drawing on elements from our rich heritage, the Jamaican motto “Out of Many, One People”, will be evident throughout the resort and will embody the best that the Caribbean has to offer. Snippets of Africa, Asia, Latin America and Europe all fit together to create the complex puzzle, that is the Caribbean. The development seeks to cater to the Diaspora and “newcomers” alike; providing a full complement of services and activities all in secure gated communities within a resort setting.

Components envisioned for Round Hill Estate

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• Estate Villa lots and Great House Villa lots – A choice of 5 floor plans of 2-4 bedrooms ranging between 2,0003,500 sq. ft.- Making home ownership a pleasure, not a chore. The villas have been designed to fit the lifestyles of singles, families with young kids, retirees as well as multi generational families who enjoy vacationing together.

• Tamarind Bay Resort – The ultimate family resort! Calabash Beach Club where owners have unlimited access, water sports, 40-slip marina, marine life centre, guestrooms, suites, sea-side villas.

• Ocean Club – These condos are adjacent to Olde Towne and are designed for young professionals/families who want to be close to the action.

• The Highlands – Envisioned as a gated active adult retirement community, with 24-hr. concierge service, beautifully landscaped gardens, on the golf course, close proximity to Oasis Wellness Retreat.

• The Round Hill Golf Club – Championship course, with the 13th hole perched on the edge of the glistening Caribbean Sea. • Pimento Hill Boutique Hotel and Spa – 50 rooms, in close proximity to the golf club and fine dining restaurant, breathtaking views of the property and the Caribbean Sea offering yoga, Pilates, hydrotherapy and massage therapy.

• Olde Towne – Restaurants, shops, cafes, The Village Green event lawn and Cane Piece bar.

• Oasis Wellness Retreat – Jamaica is known for its exceptional health care providers who deliver the best services in cosmetic surgery, holistic lifestyle counselling and physiotherapy. Oasis is located 5 minutes drive from the property in a secluded beachfront enclave.

• The Mill Sports Club – Tennis centre, basketball courts, Olympic-size swimming pool, jogging trails, clubhouse, state-of-the-art gym, steam room, sauna and sports massage.

RoundHill estate

Illustrative Master Plan

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Tamarind Bay Resort Calabash Beach Club Resort Villa Suites Old Towne Shopping Centre The Village Green Event Lawn and Bar Sugar House Heritage Centre and Ruins The Round Hill Golf Club Golf Practice Area Pimento Hill Boutique Hotel and Spa Ocean Club Condominiums The Highlands Condominiums The Mill Sports Club Main Entry - North Main Entry - South Manor House Reservation Estate Villa Lots (1/4 acre) Great House Villa Lots (1/3 acre) Round Hill Estate | dream | 9

Development Program Elements 1 Total Site Area

2 Nature Reserve

3 Hotels: 3.1 Family Resort

3.2 Boutique Hotel and Spa

4 Residential: 4.1 Estate Villa Lots # 255 @ 1/4 acre 4.2 Great House Villa Lots # 45 @ 1/3 acre 5 Condominium 220 units in 3 clusters

6 Golf Club House

7 Golf Course

8 Retail Village/Town Centre

9 Sports Club

10 Wellness Retreat**

11 Roadways, Parking & Amenity Space

** Acreage not included: Facility located at a nearby property

View from plateau on site looking north towards the Caribbean Sea.

View from mid-level elevation looking south towards the hills.

10 | DREAM | Round Hill Estate

View of the beach looking west towards the promontory.

Area (hectares) 188.2 8.9

Area (acres) 465 22

% OF TOTAL

17.8 8.5

44 21

9.4% 4.5%

25.8 5.4

64 13

13.7% 2.9%

12.9 4.9 85 4.5 2.4 ** 176.1 12.1 188.2

32 12 210 11 6 ** 435 30 465

6.9% 2.6% 45.2% 2.4% 1.3% ** 93.6% 6.4% 100%

4.7%

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Villas • Condominiums • Retire&Relax • Concierge • Wellness Retreat

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12 | LIVE | Round Hill Estate

Villas Round Hill Estate has four different communities offering the quintessential Caribbean villa lifestyle.

There are 255 Estate Villa lots of a quarter of an acre each, and 45 Great House Villa lots each, one third of an acre. Open spaces, sea breezes, large verandas, magnificent vistas over looking the golf course and out to the spectacular Caribbean Sea... and a private pool if you wish!

A choice of 5 floor plans of 2-4 bedrooms ranging between 2,000-3,500 sq. ft.

– making home ownership a pleasure, not a chore. The villas have been designed to fit the lifestyles of singles, families with young kids, retirees as well as multi generational families who enjoy vacationing together. Quality materials, whether local limestone and hardwoods or specially imported fixtures, will be used to ensure construction of the highest level of finish.

Handmade furniture crafted by local artisans will add the finishing touch to create timeless elegance no matter what style.

Condominiums Ocean club

Detail of condos from Master plan PLACEMENT ONLY The Highlands

The property boasts two distinct condo experiences: Ocean Club and The Highlands.

Ocean Club is adjacent to Olde Towne and is designed for young professionals/families who want to be close to the action. These buildings will feature a “green roof” with pool deck and entertainment areas. The Highlands is a gated retirement community offering 24-hr. concierge service and beautifully landscaped gardens.

Located on the golf course this community will cater to the every need of an active retiree.

Round Hill Estate | LIVE | 13

Retire and relax Jamaica is the ideal destination for retirees. The climate, facilities and medical services available on the island make it an unbeatable investment opportunity. The development team envisions The Highlands as an active adult retirement community. These condominiums overlooking the golf course will be sited amidst beautifully landscaped gardens in a secure gated community in close proximity to Olde Towne and the Oasis Wellness Retreat. Olde Towne will have an array of shops and restaurants along with banking, dry cleaning, business centre and postal services.

Concierge The management company will provide a 24-hr. concierge service assisting residents to secure restaurant reservations, supermarket provisioning, theatre tickets and travel arrangements.

Oasis Wellness Retreat Currently, Health Tourism is a growth sector in Jamaica. Jamaican doctors and nurses are considered some of the best in the world. They are highly sought after having received intense hands on training. As a result, the developers have acquired another beachfront property located five minutes by car from the main site which will be the dedicated Wellness Retreat. Ideally suited for rest and recuperation, this enclave will offer stateof-the-art, first world technology and equipment to deliver the best treatments and procedures in cosmetic surgery and physiotherapy among other services. Coupled with holistic lifestyle counselling the overall experience will empower patrons with the latest information available to assist them in maintaining a sustainable healthy lifestyle.

14 | LIVE | Round Hill Estate

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Resort • Golf • Sports Club • Retail

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Resort Tamarind Bay Resort will be the premier family destination in the Caribbean; offering the ultimate mix of amenities, activities and attractions for both the discerning adult and the adventurous child. The resort caters to all generations providing a true vacation “getaway” experience. Tamarind Bay will feature the luxurious Calabash Beach Club where property owners will have unlimited access to the facilities. A cadre of water sports, a 40-slip marina and a marine life centre will also complement the offerings at the resort. The accommodations at the hotel will include guestrooms, suites and sea-side villas.

Golf

Sports Complex

The Round Hill Golf Club will boast a magnificent eighteenhole championship course with spectacular vistas. The 13th hole is perched on the edge of the glistening Caribbean Sea on the grounds of The Tamarind Bay Resort. The Clubhouse will feature a grill and a fine dining restaurant with landscaped terraces for hosting events. In keeping with the target of LEED certification for the project, this course is envisioned as a “green” golf facility where every effort is made to employ new technology with regards to water conservation and maintenance of habitat of endemic species.

With world renowned athletes such as Usain Bolt, Asafa Powell, Veronica Campbell-Brown and Chris Gayle to name a few, Jamaica is a sporting paradise! The Mill Sports Club will include a tennis centre, basketball courts, an Olympic size swimming pool, jogging trails, clubhouse, state-of-the-art gym and sauna.

The climate in Jamaica makes it an ideal location for “off-season” training, whether for the professional athlete or amateur sports enthusiast. Staffed by professional trainers and coaches, both condo and villa owners will have unlimited access to the Sports Complex making their investment that much more valuable.

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Retail At the heart of the property is Olde Towne. Here we really get a sense of the fusion that IS the Caribbean.

18 | play | Round Hill Estate

Set amidst the ruins of the past, the aqueduct is the focal point of Olde Towne. Rhythms of reggae, mento and ska waft through the air. No town in the Caribbean would be complete without our traditional rum bar, and the original Great House will be transformed into just that; Cane Piece, the community watering hole. The Great House sits on The Village Green where live bands will perform in the evenings as patrons enjoy the sunset while sipping cocktails.

Olde Towne is conceived as a destination in itself and is open to everyone. It is a profit centre where tourists vacationing at nearby properties and affluent west coast residents will mingle while enjoying the ultimate shopping experience.

The management office and concierge service for owners will also be located in the town centre.

Here one can arrange for tours, dry cleaning, airport transfers or any other special requests.

Shopping and Fine Dining Restaurants and shops line the river which flows through the property and provides the backdrop for this vibrant town centre. International brands coupled with local boutiques will provide an unparralled shopping experience right “at home.� Infused with the flavours from around the world Caribbean cuisine has something for everyone. Whether your preference is for Chinese or Indian, Italian or Greek, authentic dining options abound in Olde Towne.

indulge Round Hill Estate | PLAY | 19

Appendix Jamaica at a glance

Montego Bay

Falmouth Ocho Rios

HANOVER

Centrally located in the western Caribbean, Jamaica is an important gateway to established trade routes between North and South America, Africa, and Europe, with connectivity to the Eastern Hemisphere.

Beautiful stretches of sandy beaches lapped by the blue Caribbean Sea; cool, clear rivers perfect for rafting, swimming and fishing; mysterious caves furnished with picturesque stalactites and stalagmites; and exhilarating, cascading waterfalls are a few of the features that give Jamaica its unique appeal.

ST. JAMES

Negril

Port Maria

TRELAWNY ST. ANN

WESTMORELAND

ST. MARY

ST. ELIZABETH

Black River

CLARENDON

MANCHESTER

HIP STRIP

Entertainment stretch of road filled with hotels, restaurants, night clubs and shops.

Holiday Inn Sunspree Resort Coyaba Beach Resort Sandals Royal Jamaica Sandals Montego Bay

Montego Bay

at R Gre

r ive

20 | Appendix | Round Hill Estate

KINGSTON

ST. THOMAS

Half Moon Beach & Country Club The Ritz Carlton Palmyra Resort & Spa Rose Hall Country Club

Jamaica is classified as a Jamaica Cinnamon Hill Golf Course developing country. We have Rose Hall Great House Ironshore a mixed, free-market economy Doctor’s White Witch Golf Course Cave Beach Golf Course consisting of a combination of state-owned entities and privateSunset Beach Round Hill sector organisations. Our two Resort & Spa Tryall Golf & Hotel & Villas Beach Club most important economic sectors Cruise ship are tourism and mining, with agriculture and manufacturing also contributing to the economy.

Kingston, Montego Bay, Ocho Rios, Negril, Port Antonio and Tourism and mining are responsible for earning most of the South Coast. As our biggest industry, tourism provides the valuable foreign exchange needed for trade. In order jobs in sectors other than its own. to foster growth and stability, particularly in our primary industries, the government of Jamaica has, since the 1990s, Agriculture started a comprehensive economic programme. The programme places great emphasis on strict fiscal discipline The agricultural sector revolves around the farming and and openness to trade and free markets. The government exporting of crops such as sugar, banana, coffee, citrus, has also implemented many new policies such as a floating cocoa, coconut, pimento (allspice) and a variety of root crops exchange rate, reduced restrictions on foreign investment (e.g., yams). At present, we export most of our Blue Mountain and a stabilised Jamaican currency. coffee, one of the world’s most-prized and expensive brands, to Japan.

With its unparalleled beauty and year-round vacation opportunities, Jamaica is an ideal tourist destination.

Each year over one million visitors flock to our island to experience the delights of our exciting resort centres –

Spanish Town

PORTLAND ST. ANDREW

Kingston

Economy

Tourism

ST. CATHERINE

Port Antonio

Geography Jamaica is the largest English-speaking island in the Caribbean and the third largest in the region. With a total land area of 4,442 square miles (10,991 sq. km), the island is

146 miles long with widths varying between 22 and 51 miles (35 and 82 km). Situated ninety (90) miles south of Cuba and six (600) hundred miles south of Miami, Jamaica is 18 degrees north of the equator. The hottest months are in the summer, from May to September. The “winter” season (December to March) is appreciably cooler.

Natural rivers and springs abound in Jamaica. Over 120 rivers flow through the land from the central mountain. These counties are further subdivided into parishes with Kingston, the smallest of the fourteen (14) parishes, as home to the capital city. The terrain is very mountainous with much of the land rising above 1,000 feet (305 km). The highest point, Blue Mountain Peak, is 7,402 feet (2,256 m) above sea level.

Complementing our mountains, Jamaica also brims with valleys and plains. The annual average rainfall is 78 inches (198 cm). The annual average temperature is 27 degrees

Mining Jamaica is one of the world’s main producers of bauxite, a precious ore used in the manufacture of aluminium. As a result, bauxite is our second largest industry and the second best foreign exchange earner. We ship our bauxite to the USA, Canada, Norway and other countries for production.

Although bauxite is the most mined mineral on the island, we also boast significant deposits of gypsum, marble, alabaster, limestone and agate.

DOING BUSINESS IN

Jamaica : incentives

Foreign Sales Corporation (FSC) Act

HEART Trust/National Training Agency

Exporters may obtain substantial tax benefits by establishing an FSC. A Foreign Sales Corporation is essentially a company incorporated in a foreign country that the United States qualifies as a host country. Foreign Sales Corporations are allowed to earn tax exemption on exports to the USA. As an incentive for exporting, this Act provides relief from the Common External Tariff (CET) and the General Consumption Tax (GCT) on equipment, machinery and materials coming into the country. In addition it provides for up to five (5) years of income tax relief.

The HEART Trust/National Training Agency provides technical support and financing for a wide variety of employment training programmes through its island wide network of institutions, on the job training and partnerships with community organizations.

International Financial Companies Act In an effort to promote offshore banking facilities, the Jamaican Government has provided international financial companies with income tax relief on both profits and capital gains. Also known as the Income Tax Relief Act, it provides for partial relief from income tax for the benefit of corporate entities considered to be international finance companies and are approved and recognised under the Act.

Shipping Act Under this Act, once a company is recognized as an ‘approved Shipping Corporation’ it may receive tax relief and concessions on import duties for up to ten (10) years.

Modernization of Industry Programme This incentive provides for the waiving of General Consumption Tax chargeable on the acquisition of machinery and equipment directly related to the manufacturing process.

Urban Renewal Act This Act is targeted at persons or organizations that facilitate or carry out urban development. Relief from income tax, stamp duty, and transfer tax is given to those persons who engage in transactions geared towards urban development, i.e. the metropolitan centres of Kingston and Montego Bay.

Accelerated Depreciation Special Capital Allowance Qualified businesses must be certified by the Ministry of Industry, Commerce and Technology. For data processing/ system development businesses, at least 20% of its gross income must be derived from exports. Upon qualification, a certified business is granted a special allowance of capital expenditure for : • 50% of the full cost of any new machinery in the year of purchase, and • A further 50% in the second year.

International Technical Assistance Programme (ITAP) This covers the various programmes that are funded by international agencies and administered by the JAMPRO/ ITAP Department. These programmes are made available to persons wishing to make investments that are deemed to have potential to contribute to Jamaica on a developmental level. The main organization that presently funds these types of development programmes is the European Union through the European Development Fund (EDF).

The Exchange Control Act The Government of Jamaica has no restrictions on the movement of foreign currencies flowing either in or out of Jamaica. This Act facilitates the free movement of capital to other countries, whether for investment or repatriation purposes.

Tourism Related Incentives Hotels (Incentives) Act The Hotels (Incentives) Act provides income tax relief and import duty concessions for up to ten (10) years for approved hotel enterprises, and fifteen (15) years for convention-type hotels having an aggregate number of not less than 350 bedrooms and facilities for the holding of conferences. Approved hotel enterprises must have ten (10) or more bedrooms with facilities for meals and accommodation for transient guests, including tourists.

Resort Cottages (Incentives) Act The Resort Cottages (Incentives) Act provides recognized resort cottages with income tax relief for up to seven (7) years and import duty concessions on imported building materials and furnishings. A recognized resort cottage must have at least two (2) furnished bedrooms, a furnished living room, bathroom facilities and facilities for the preparation and consumption of meals, and must be used or be intended to be used for the accommodation of transient guests, including tourists for reward. Income tax relief and the import duty concessions apply only to resort cottages having an aggregate number of not less than ten (10) bedrooms, situated in the same area and owned by the same person. The Act offers income tax relief and duty concessions for up to fifteen (15) years for convention-type hotels, that is, hotels with at least 350 bedrooms, and ten years for regular hotels. For a hotel to benefit under this Act, it must contain not less than ten (10) bedrooms and facilities for meals and the accommodation of transient guests, including tourists.

Attractions Incentive Regulation The Government of Jamaica has instituted an attractions incentive to stimulate growth in the attractions industry.

Benefits under the regulation include the importation of specific items free of general consumption tax and customs duty for five (5) years and a five-year exemption from corporate taxes for investors.

Taken from Jamaica – Investment Opportunities, Jamaica Trade and Invest (JAMPRO) and the Jamaica Tourist Board.. For further information visit their websites at: • http://www.jamaicatradeandinvest.org/index.php?action=investment&id=6&oppage=4&optyp=mm and • http://www.visitjamaica.com/ Round Hill Estate | Appendix | 21

Outline of Environmental Assets 1.0 Introduction 1.1 Purpose Environmental Solutions Ltd. (ESL) was invited by MODE Ltd. to undertake an environmental assessment that would guide the developers on how to maximize the environmental assets for the proposed development at Round Hill, Hanover.

1.2 Project Background and Concept ESL conducted an environmental impact assessment for the proposed property at Round Hill Estate in 1996.

During that study, the coastal habitats and coastal water quality were characterized. Terrestrial habitats were also characterized as well as soils, drainage, hydrology and geology. A socio-economic assessment was conducted by desktop study and consultations with relevant agencies.

The present assessment entailed an update of the site conditions from coast to land to ensure identification of the environmental assets that could be incorporated into the proposed development. The core concept of the proposed development is that of a recreational type development of vacation homes, condominiums, resort and recreation as well as commerce.

2.0 Coastal Assets The coastal assets include beaches, coral reef, and mangrove stands and sea grass beds. Some areas have the potential for development and are explored below.

2.1 Beaches Northeastern Sandy Beach The 1996 Environmental Impact Assessment (EIA) stated that there were two narrow beaches located on both the western and eastern side of the promontory/headland.

The western beach was said to have the potential for development into a good quality bathing beach. However, due to the silty nature of this beach it may not be as feasible to develop.

The beach on the northeastern section of Harrison’s Point offers greater potential for development as a bathing beach.

The beach has good quality fine grained white sand and is sheltered by the reef. Additional sand to develop this beach is available offshore towards the north east. However, the sea grasses that dominate the reef flat will require clearance which is a permitted activity through the National Environment and Planning Agency (NEPA).

The eastern beach, which is typically cobbly in nature, 22 | Appendix | Round Hill Estate

is more exposed to high wave energies as the reefs project northwards of the headland and hence offer minimal protection to this area. It is a very narrow beach as indicated in the 1996 study but can be developed by means of appropriate coastal works into an attractive recreational beach and has much less sea grass than does the northeastern beach.

The mouth of the Great River also disgorges towards the south east of the beach which is a potential source of sediments that would likely foul the beach. Despite the fact that satellite imagery shows that the sediments generally tend to shoot directly northwards rather than northeasterly towards the beach, the property owners report that there is usually sediment brought down onto this beach with intense rainfall events. Therefore development of this beach will require construction of a groyne to the east. Also the river that traverses the Round Hill property converges onto this beach and would need to be diverted. This further reinforces the need for the groyne.

2.2 Mangrove Stands The western section of the headland is dominated by fringing mangrove. These are mainly Red Mangroves (Rhizophora mangle) but Black and White Mangroves (Avicennia germinans and Laguncularia racemosa) are also present in the stands. The mangroves appear relatively healthy and offer some protection to the coastline. At the

time the 1996 EIA was conducted a lagoon was present in the Red Mangrove area; however, this lagoon has now been occluded as the mangroves have spread further northwards.

The lagoon also adds value to the coastal assets and creates another recreation potential for non-motorized boating activities and site seeing. Clearing of the mangroves to recreate this lagoon may also require a permit from the NEPA. Other developments in the mangroves may include a boardwalk and bird viewing tower for nature lovers.

2.3 Coral Reef The coral reef is degraded and shows no improvement from its condition in 1996. Most of the corals are covered with algae and there are few live corals (less than 10%).

The reef flat is more degraded than the reef front which has somewhat higher live corals. Only a few species of fish (were observed across the reef and these were mainly juvenile fish all less than ten (10) cm in length. The species diversity is therefore not as extensive as expected in a tropical reef system. Nevertheless, local fisher folk utilize the reef and sea grass beds for fishing.

Although degraded, the reef will have to be left intact.

If restored the reef would add to the tourism attraction package for purposes of snorkeling and small boat viewing.

The developers may consider restoring the reefs as a tradeoff for removal of mangroves and sea grass in areas to be developed as part of the coastal destination package.

2.4 Sea Grass Beds Immediately adjacent the shorelines, particularly from the northern end towards the west, are thick sea grass beds dominated by Thallassia testudinum. The main change in the condition of the sea grass community in 2011 is that there is little epiphytic growth on the blades compared to 1996 where 90% of the sea grass blades were observed to be covered with algae. These areas are also suitable for snorkeling and support a variety of fish for viewing.

2.5 Harrison’s Point This is a very sheltered promontory and is suitable for the development of a marina for small and medium-sized boats on the curved northwestern point. Also curved groyne is needed from the point for greater protection of the marina.

2.6 Rocky Shoreline The eastern most coastline of the property is dominated by rocky shoreline. These areas are suitable for the development of raised villas overlooking the sea as envisaged by the Architectural team.

3.0 Terrestrial Assets

holes that if enhanced could serve as very attractive centres for fresh water recreation. The other spring is surrounded by thick woodlands, and offers sites with enough flowing water for recreation. As the banks of both river systems are prone to erosion it will be necessary to undertake some studies to design the appropriate reinforcements to stabilize the banks in the upstream reaches.

3.4 Archaeology/Culture Vestiges of the old Round Hill Plantation can still be seen today. The Great House, wind mill, factory and an aqueduct are some of the more obvious heritage features remaining on the property that can be renovated and retrofitted to blend into the proposed recreational development area.

3.5 Proposed Alignment for Round Hill Section of the Northern Coastal Highway The developer proposes to re-align further south the section of the north coast highway that divides the property into northern and southern sections. This is to facilitate a larger land space for hotel development adjacent to the beach front which is ideal for attracting investors. On the southern section of the property the first few hundred meters from the highway going south is generally flat land

dominated by grasslands and tobacco. These lands are typically used for pasture by the property owners. They lay of the land and the relatively common ecology reduces major challenges (for instance geotechnical issues typically experienced in steep topography with highly bedded, fractured and dipping strata of the Montpelier Formation that underlies the steep sections of this site) and expenses associated with the realignment. Further investigations should be done to determine the best fitting alignment.

4.0 Overall sustainability of the development The site is ideal for consideration of the following sustainability features into the development: • Rainwater harvesting • Waste water treatment plant and use of treated effluent for irrigation of golf courses and lawns • Natural vegetation preserved in areas where possible • Use of natural light and ventilation • Solar energy • Wind energy

3.1 Ecology The core value of the proposed development is centred on a recreational, healthy lifestyle hence preserving some of the existing ecology will be integral in promoting a unique interaction of recreation, rejuvenation and appreciation for the environment. Significant plants such as cotton trees that have major ecological value also lend historical value and should be mapped, flagged and preserved where possible.

Birds are prevalent throughout the site and are also an attraction feature that would require unfragmented areas of fruit trees.

3.2 Vistas The site boasts several vistas that offer attractive ocean views for visitors and property owners. The most impressive ones appear from the highest points as indicated below.

Preliminary architectural designs appear to maximize the location of the best vistas by planning prime residential developments along these points, a major boost for the real estate potential on the southern side of the property.

The golf courses are also primely located to make use of the ocean views, all in keeping with the design concept of recreation and wellbeing.

3.3 Springs There are two main springs that both traverse the site from south to north. The Spring referred to as Dunder River by the property caretaker, flows along an aqueduct and adjacent to the remnants of the old estate. This spring has two water Round Hill Estate | Appendix | 23

the team MAFFESSANTI BUILDERS & CONTRACTORS LIMITED – LAND DEVELOPERS

development and property subdivisions, including infrastructural work. Completed projects include subdivisions at Unity Hall, Great River II and Pimento Hill (west of Montego Bay). In these subdivisions Maffessanti has built a large number of middle income houses. It recently completed subdivisions at Spring Garden, Orchard Gardens Phase One and is in the process of completing Orchard Gardens Phase Two. Bogue Industrial Estate, Montego Bay, Reading P.O. Box 38, St. James, JAMAICA, W . I .

Tel. (876) 952 5060/3872/8932, Fax (876) 952 7681 Email: maffebuilders@ maffessanti.com

Greystone Capital Partners is a boutique advisory firm that advises boards and management teams in the 28 Hope Road exploration, facilitation, structuring and execution Suite #of 25a House East broad range of strategic and financialDevon initiatives including Kingston 10 valuation, capital markets strategies and tactics,Jamaica mergers, acquisitions, divestitures, joint Tel: (876) 926-3183 (876) 920-3136 ventures,Fax: restructurings, capital raising and other corporate mode@modearchitects.com www.modearchitects.com finance matters.

Greystone’s principals bring over three decades of combined experience in structuring and executing transactions on a global basis, with their recent history grounded primarily in the Region. Our principals have gained their experience working with a number of premier international and regional firms and complement each other with experiences in private equity, equities, derivatives and fixed income trading as well as corporate finance, restructuring, and mergers &acquisitions.

28 Hope Road, Suite #25, Kingston 10, Jamaica Tel: (876) 926 3183, Fax: (876) 754 3840, Email: mode@modearchitects.com

40 Knutsford Boulevard, Penthouse, Kingston 5, Jamaica, W.I. T: 876-906-0704, F: 876-754-5273 E: info@greystonecptl.com, W: www.greystonecptl.com

MODE

DISCLAIMER: The information provided in this brochure is for general information only and you rely on and use such information to inform your investment and other decisions based on your own evaluation and completely at your own risk. No financial or investment advice whatsoever is provided herein, and no part of this brochure shall be taken as constituting solicitation, purchase or sale of any investment product, or a representation that any such product is suitable for you. You acknowledge that the brochure may contain inaccuracies, errors or be outdated and we expressly exclude liability for any such inaccuracy, error or other inadequacy to the fullest extent permitted by law. No information contained in this brochure shall constitute an inducement, representation or term of any contract (whether oral or written) that you may enter into with Round Hill Estate Development Limited.

estate

Methods Of Developing our Environment – M.O.D.E. LimMETHODS OF DEVELOPING OUR ENVIRONMENT ited was formed in 2000. M.O.D.E.’s primary purpose is to create and execute buildings of the highest design standards, thus creating environments that are exceptional and ideal for our clients’ needs. Our mission is “to create positive additions to the built environment by working in synthesis with the client and society.”

Over the past eleven (11) years, M.O.D.E. has extended its services to public and private companies/entities engaged in Real Estate Development, Building Construction and Project Management. M.O.D.E. employs the most up-to-date technology and systems to fulfill its clients’ requirements.

The Architects at M.O.D.E. bring a wealth of knowledge from previous work experience both locally and abroad. The Principals of the firm are LEED APs (Leadership in Energy and Environmental Design – Accredited Professionals) and are committed to sustainable development.

MODE is an avid proponent of the Integrated Project Delivery (IPD) system and the use of BIM (Building Information Modeling) to assist in the efficient design and delivery of projects.

RoundHill

Maffessanti Builders’ headquarters are at Bogue Industrial Estate, Montego Bay. Giuseppe Maffessanti is Managing Director.

Its principals have been in the construction industry since 1951.

Maffessanti specializes in commercial and residential structures (new and remodeled) including the rehabilitation of several historic buildings.

Projects today are mostly within the Montego Bay area. Construction involvement began in earlier years in the parish of St. Ann, with projects in Upton, Shaw Park in Ocho Rios, Mammie Bay and Runaway Bay and several other locations within the parish.

Maffessanti has constructed most of the houses within the Tryall Golf Club, built houses at Round Hill, Rose Hall (among them one for the late writer Pierre Daninos), Great River Private, Tamarind Hill and built the Pimento Hill House for Count DeSibor.

Maffessanti also specializes in land

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