As part of JMMB Group’s plans to diversify the financial and investment conglomerate’s revenue stream, it will embark on expanding the portfolio of JMMB Real Estate Holding Limited.

JMMB Real Estate is a non-financial subsidiary of JMMB Group domiciled in Jamaica. Its first major development was four-storey commercial at 102 Hope Road housing JMMB’s digital branch.

Head of JMMB Real Estate Tracey-Ann Creary in a video presentation during the group’s annual general at the Jamaica Pegasus on Friday, October 10, 2025, outlined the group’s plan for the company.

“Our mandate is to monetise our land bank by creating high-value real estate development products. We manage the full development cycle, from planning and design, to construction, and to sale or lease of a completed product. Our built-on-site model allows us to either sell the completed developments or secure long-term leases for the [project],” she said.

For financial year (FY) 2024/25, JMMB Real Estate contributed $332 million in profits from total earnings of $700 million. According Creary, rental income, gains on sales and gains from revaluations contributed to the earnings.

Commenting on the JMMB Digital Branch, she said the company will generate rental income from the lease of all storeys except the ground floor.

More projects coming

“As one of the young members of the JMMB family, we’re proud to be making meaningful contributions to our group’s revenue. The 102 Hope Road project is just the beginning. It’s the first of four commercial developments we plan to roll out over the next two to three years,” Creary revealed.

“This year, we secured approvals from our statutory agencies to move forward with two exciting projects located at Haughton Avenue and Harbour Street. We are now in the procurement phase to identify contractors and expect to bring them along in the coming months,” she added.

The Haughton Avenue project, when completed, will be a 10-storey building comprising parking and 45,000 square foot of office space.

“This project will be a key addition to our commercial portfolio,” the JMMB Real Estate head boasted.

“We are also thrilled about our urban renewal project on Harbour Street [in] downtown Kingston. We will be renovating 35,000 square foot of commercial space, thereby contributing to the revitalisation of the area.”

In the meantime, the company has begun design for properties in Montego Bay, St James and Mandeville, Manchester. These projects, according to Creary, will further expand the JMMB Real Estate’s property portfolio.

“While we focus on our developments, our team will also actively manage our land bank through rentals and strategic acquisitions and disposals. As of today, our land bank is valued at approximately $4 billion. This will provide a strong foundation for the implementation of future projects,” Creary concluded.