6 months ago
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The Private Sector Organisation of Jamaica, PSOJ, will be developing its headquarters at Hope Road in Kingston, in collaboration with VM Group, a project that will transform the complex into a commercial hub.
The partners announced the project as a joint venture between PSOJ and VM Group, but provided none of the particulars regarding how costs would be shared or how the project would be financed.
The design of the complex is complete, but regulatory approvals for the development are pending.
The one-storey building that has housed PSOJ for 40 years will be transformed into an edifice with four upper levels, plus basement-level parking. It will incorporate 32,000 square feet of rentable space.
PSOJ President Metry Seaga said the organisation, which serves as the premier lobby for corporate Jamaica, would relocate during construction, but is yet to determine where its temporary home will be. The timeline for construction is also still to be determined.
“Plans are preliminary and we have a lot of work to do internally. It’s a big project for us and we are partnering with VM who are part-owners,” Seaga said on Friday.
Discussions with possible tenants for the new facility are also at an early stage, but Seaga is envisioning the development as a possible hub for several business associations that complement each, such as the Jamaica Manufacturers and Exporters Association and the Jamaica Chamber of Commerce.
“We will be putting up zinc around the site and moving out shortly … we haven’t finalised where we are moving yet, but it will not affect our members in any way, shape or form. It’s business as usual,” Seaga said.
The new complex was designed by Synergy Design Studio, with input from Michael Neita of NeitaConsult Limited.
“We are taking concrete steps towards a project that has been part of the PSOJ’s strategic plans for years,” said Seaga in a release on the signing of the PSOJ-VM agreement.
“Our objective is to create a facility that not only meets our operational requirements but also serves as a model of sustainability within the Jamaican business community,” he said.
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