Oceana $1B renewal begins

Work is well under way at the old Oceana Hotel which is being transformed by an investment of some $1 billion.

The work is being undertaken by a Jamaican/Canadian consortium which, last year, purchased the property from the Urban Development Corporation (UDC) for $385 million.

Details of the planned expenditure were provided recently by Prime Minister Portia Simpson Miller, who said: "The full rollout of the overall development, inclusive of the hotel operations, will also see additional investments being made in future phases. Demolition work has already started on the ground floor of the Oceana building".

According to Simpson Miller, the ground floor, which spans 70,000 square feet, is being fully renovated and will be outfitted with new equipment, fixtures, and fittings to accommodate 400 to 500 persons in modern office space facilities.