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Real estate agents Jamaica Sotheby’s International is boasting that a flood of prospective buyers turned up last Saturday (December 4), making on the spot offers to snatch up one of the luxury residences on offer from real estate investment firm First Rock Capital Holdings at Hambani Estates in St Andrew.

The residences had previously been unveiled in April and Jamaica Sotheby’s was engaged to market and sell units at the development.

More than 100 prospective buyers reportedly viewed the listings during an Open House held on the weekend.

At the unique event, Jamaica Sotheby’s says, along with the Hambani residences, it listed 1,592 luxury homes for sale, some going for prices as high as US$40 million and US$80 million.

Marketing Lead at Sotheby’s Kerrine Tulloch said: “We knew this Open House would be a success. We are the epitome of luxury and would, in fact, market this development well.”

Jamaica Sotheby’s CEO and Co-Founder Julian Dixon says she insists on doing things differently to effect change in the real estate industry.

“For our clients, real estate professionals and, Jamaica at large, we want to bring about real positive change. We hosted an Open House event like nothing before seen in the market. As Sotheby’s is a lifestyle brand, Jamaica Sotheby’s International Realty brought luxury and sophistication to the event as Hambani demands,” Dixon said.

The brand partnered with NCB as its financial partner and ATL Automotive, which had Porsche, Audi, and BMW cars on display at the event.

Tropical Battery, Vj Building and Construction and Ramsey Smith Attorney-at-Law were all there to the likes of the patrons.

First Rock Capital Holdings is hoping to revolutionise the local real estate market with its stand-alone home concept and bring to Jamaica a trend taking off in the United States and Europe.   

Hambani Estates is a low density, multifamily development consisting of 12 single-family residences of 8,000+ square feet, priced at US$1.8 million -US$2 million each on its subdivided quarter-acre lot on Bamboo Avenue.
 
Ryan Reid, First Rock Group cairman and CEO, said the overall development should cost more than $2 billion. Unit prices are US$2 million each for the five-bedroom villas and US$1.8 million for four-bedroom villas.

“It averages US$250 per square foot, which represents the lowest pricing locally for luxury developments. The buildings are designed in the tropical contemporary style, with a focus on natural light, good cross-ventilation throughout, and a strong connection between the indoor and outdoor spaces. The design intent is to create the feeling of a Jamaican villa but with the modern amenities and features expected in a Kingston residence,” Reid said.

All units come equipped with central AC/VRF technology and all appliances.

The development is promised to be highly landscaped with a total of seven five-bedroom residences at two-storeys high and five four-bedroom homes at three levels high.

Each stand-alone residence will consist of landscaped forecourt that steps the building away from the main driveway, enclosing the cars within either a three- or two-car garage. They will have outdoor terraces and balconies with amenities, including outdoor kitchens and plunge pools.

The amenities on the property include a standby generator, garbage room, meter centre, gardener storage and landscaped areas.

The development team comprises Garco Construction Services, Architect Atelier-Vidal Limited, Structural/Civil Engineer Jentech Consultants Limited, and Project Manager, Plexus Architects & Planners Limited.

“The price of this kind of luxury is extremely competitive compared to other countries. It represents value for money. We expect these listings to go quickly,” Dixon ended.