FCJ bullish on new Portmore development
Published:Thursday | April 6, 2023 | 12:29 AMAvia Collinder - Business Writer
FACTORIES CORPORATION of Jamaica, FCJ, is treading softly with its planned, expanded commercial park in Naggo Head, Portmore, waiting for the last two months for approval from Cabinet before disclosing costs for the project and lease rates.
Its confidence in approval is, however, indicated by its marketing of the project to potential lessees.
“The Naggo Head Integrated Business Centre will create over 1,000,000 sq ft of premium space in the popularly known ‘Sunshine City’ of Portmore, St Catherine,” the FCJ announced in an emailed infomercial in the third week of March.
“This project will be ideal for the growing global services and productive sectors,” the government agency said, also listing several “client benefits”.
In December 2022, the agency indicated that it was moving ahead with its newly named integrated business park, originally called Tech Park.
It was noted that the project, while still at the conceptual planning stage, had already received the requisite approvals for presentation to Cabinet.
When asked about client interest in the project and the projected pricing of units, the agency’s communication department told the Financial Gleaner on March 27, 2023: “The project is at Cabinet awaiting full approval. Until such approval is forthcoming, we will limit the information we disseminate on the project.”
In 2019, the projected cost for the Naggo Head Tech Park, the original name for the development, was US$75 million, or $9.5 billion.
The current project entails the development of 34 acres of land in Naggo Head.
In December 2022, the FCJ outlined that the approximately 825,000 square feet of space to be offered to lessees “will be ideal for the growing of global services and productive sectors”.
The new design represents an expansion. Originally, the project was designed for just 750,000 square feet of space. Now it has been conceptualised as a commercial business centre with more room.
The FCJ said that zone one will be “over 400,000 square feet, and will be the home to BPO facilities, executive residences for BPO, a media centre, educational institutions and other commercial facilities to provide support services”.
For zone two, it was stated: “... will be otherwise called the Industrial Zone, will be home to warehouse-type buildings that can be easily outfitted to match the needs of light manufacturing and agro-processing entities”.
The FCJ outlined: “The complex will be eco-friendly, boasting water-harvesting and PV systems, large pedestrian walkways and soft vegetation intertwined with sharp façade lines.”
The corporation said both zones will feature “modern architectural designs, anchored by a lush central green park”.
Previously completed infrastructure works include paving of roads leading to the development, sewer and drainage works for the first phase of the development, and completion of the procurement process to select the design consultant.
The park is slated to have 519 parking spots, 28 bus parking spaces for shuttles and drop-off points, and the requisite loading bays.
In 2020, the FCJ outlined that the delay in development was due to the prioritising of the construction of the Morant Bay Urban Centre.
A reconfigured design was concluded in January 2022, and in November 2022 a joint-venture agreement was signed for the construction of the development between FCJ and a private partner, who remains undisclosed.