Karisma mega resort to include commercial centre, luxury residences
Published:Friday | January 31, 2020 | 12:15 AMNeville Graham - Business Reporter
The large resort spanning 4,800 rooms to be developed by Karisma in St Ann will also feature a component for luxury residences.
The US$1-billion hotel project being developed at Llandovery on Jamaica’s north coast will officially begin construction on February 28. Preparatory works are already under way at the 252-acre site for what is to become known as Sugar Cane by Karisma.
The commercial complex that will complement it will provide 12,000 square metres of retail space.
As for the luxury residences, Senior Vice-President of Business Development at Karisma Hotels & Resorts, Mario Mathieu, says the hotel company is partnering with Hugh Scott of ASCO Project Consultants to deliver an upscale, gated community as part of the resort.
ASCO has been doing design and engineering consultancy with Karisma since the resort chain first entered Jamaica in Negril.
“Out of that lead consultancy role on this project, we have struck up a commercial partnership with Karisma …,” Scott said.
Two lots at the centre of the resort complex have been earmarked for the residences.
“We already know that there’s the sort of buying power for these types of properties, and those we are hoping to attract are Jamaicans living abroad who want a second home or are looking for somewhere to retire to at some point in the future,” Mathieu said from Mexico in an interview with the Financial Gleaner. “There may also be those who are buying for investment,” he added.
The plan calls for 65 three-bedroom villas, each on 750-square-metre lots; 21 two-bedroom apartments; and 42 one-bedroom apartments. Cost is estimated at US$60 million and is part of the larger US$1-billion price tag for the mega development.
“As far as the residential and commercial aspects of the project are concerned, ASCO has put together a group of financial and technical partners and we’re all ready to go. All that is left is to integrate the operations of the residential properties into the operation of the hotel post-construction,” Scott said.
Karisma Sugar Cane, which is due for completion around May 2023, is the resort company’s second venture in Jamaica. It has operated the 140-room Azul Sensatori in Negril since April 2014.
“Jamaica is a very special place for us, because when we opened our property in Negril it was our first foray outside of Mexico. It set the tone for what Karisma is today, which is a strong regional operator and quickly becoming international,” said Mathieu.
“Once we opened in Negril, we realised that the opportunities for growth and expansion were a little bit more restricted because it is a well-established and well-developed destination. We took a look around the island and became excited by the possibilities, and we set our sights on the property out by Llandovery,” he said.
Karisma operates resorts in Mexico, Jamaica, the Dominican Republic, Colombia Croatia and Montenegro. However, Sugar Cane is designed to have its own character, and is being considered as the template for other resorts to come.
“We didn’t want to duplicate Cap Cana in the Dominican Republic. What we wanted to do was to make sure that we could develop a really luxurious experience – one that is ‘hotel and residential’ and that truly represents the Karisma brand,” Mathieu said.
Sugar Cane will also feature a shopping mall with a supermarket, a BPO centre, quick-service or fast-food outlets, and nine dining restaurants, along with retail stores.
“We’re not doing a commercial centre because Sugar Cane Resorts is coming to the area. But rather, we feel that the area as a whole needs it,” said the hotel executive, who predicts Karisma Sugar Cane will provide around 10,000 jobs, and that workers would in turn need support services such as schools, and living accommodation.
Mathieu says Karisma has secured the necessary approvals for the resort, but that the permits for the commercial centre are not yet in place.