Prime Minister Andrew Holness has reignited his call for Jamaicans to uphold their “deal” with the Government by investing in the nation and creating value.

In turn, Holness said, his administration will continue to keep up its end of the bargain by ensuring the structures and policies are in place to give investors every opportunity for success.

“We have a deal. The deal is, Government will keep stable and predictable fiscal and monetary policy. We will take policies that are supportive of growth and development,” Holness told a small gathering, in observance of COVID-19 protocols, ahead of yesterday’s groundbreaking for the luxurious Residences at Terra Nova development in St Andrew.

“We will put in place policies that will control crime and protect property rights. We will put in place policies to train up our workforce and ensure the development of human capital. And with all of that in place, business persons must invest. Jamaicans must invest in Jamaica and create value.”

Holness’ comments came as he praised Terra Nova All Suite Hotel founder Ruth Hussey and Andrew Hussey, CEO of the Hussey Group of Companies, for their investment in the 14-storey development which is expected to employ as many as 400 persons as the construction phase gets under way this month and continues over the next 24 months.

The prime minister noted that the development was a strong signal of confidence of a rebound in Jamaica’s economy, even as the nation continues to battle the COVID-19 pandemic.

“We are still in a pandemic, but our investors, the Husseys, have confidence in the Jamaican economy, they have confidence in the fiscal and monetary policies of the Government, They have confidence in the growth and spatial development policies of the Government,” Holness said.

“They see the future as one that will be better than the present and therefore they are taking the risk of putting up their own resources, I am sure you will be borrowing significant resources, getting other people to put in equity, and you are going to be putting your entrepreneural assets into this project to make it happen.”

The prime minister said he wanted Jamaicans to understand the significance of the project, noting that, even though it was a private venture, it would provide a public good through employment, and its contribution to the renewal of the national landscape across the capital as one of the many new developments going up in the Corporate Area.

The Residences at Terra Nova will be built on lands adjacent to the existing Terra Nova All Suite Hotel and will comprise an additional 91 luxury units which will be complemented by amenities incudling a state-of-the-art indoor gym, covered outdoor exercise spaces, rooftop jogging trail, rooftop infinity pool and lounge, meditation garden, reflection pool, lobby cafe, as well as indoor and outdoor meeting rooms and spaces.

The property will also be ecofriendly and designed to minimise energy consumption and promote healthier lifestyles through natural daylighting of interior spaces and maximising open air and green communal spaces.