Fact Sheet on Sale of FORUM HOTEL
BACKGROUND The Forum Hotel was opened in 1973. The Forum Hotel Complex is located along the southern section of the Naggo Head to Port Henderson roadway and along the eastern section of a parochial road leading to the Port Henderson Hills/Green Bay area. The property is north of Rodney’s Arms. The Forum Hotel is located only two (2) kilometres away from the Portmore Town Centre and approximately eight (8) kilometres from Kingston, the largest English-speaking Business district in the Caribbean. The hotel complex is located on just over 16 acres of land. STATUS Sales Agreement between the Urban Development Corporation and Portmore Marina Development Limited signed on January 28, 2014 for sale of Forum Hotel Complex. Cost: Property sold for J$350 million Broad vision for property: • Restoration of tower for accommodation purposes • Refurbishing the cottages as independent units • Upgrading fishing beach into a marina entertainment complex
-30For further information, please contact: The Corporate Relations Department Urban Development Corporation 12 Ocean Boulevard Kingston, Jamaica Tel :( 876) 922-8310-4 Email cr@udcja.com Website: www.udcja.com/ www.facebook.com/urbandevelopmentcorporation January 28, 2014