Kintyre Holdings (JA) Limited has completed a J$500 million transaction to secure a 170-acre property in Clarendon, earmarked for quarry development and wider asset-backed projects.

The site carries limestone, aggregate material and river shingles, and also shows potential gold-bearing geology, which the Company plans to evaluate through structured technical work.

Chairman, President & CEO Tyrone Wilson described the deal as “a major step in our asset-building strategy that adds a new category of long-term value to the portfolio”. He noted that “before we launched our merger and acquisition strategy and formally restructured into Kintyre Holdings, the Company’s balance sheet stood at approximately J$228.96 million. Today, our holdings value stands at approximately J$1.72 billion (about US$10.4 million)—an increase of approximately 651 per cent from that pre-acquisition base, and clear evidence that our strategy is translating into real balance sheet strength.”

Kintyre is not planning to run the quarry itself. The company is in discussions with overseas players that have deep quarry development and operating experience. Wilson explained that “our objective is not to become a quarry operator, but a strategic asset owner”. He said that the intention is for an overseas partner to take operational control, while Kintyre earns from the asset through a royalty-based and structured commercial framework, with Kintyre retaining governance oversight and long-term asset strategy.

The Clarendon property, along with any complementary land use such as housing or tourism concepts, will be led through Parallel Real Estate Ventures Limited (“Parallel”), Kintyre’s real estate ventures arm. Parallel has been a key driver of Kintyre’s asset growth in recent years through real estate development and value uplift.

Kintyre’s broader real estate pipeline includes The Chalet at Bengal Beach, which has full approvals for 26 units. The Company is weighing whether to move into construction using project financing or pursue an outright sale of the fully approved development. Recent acquisitions in Stony Hill and St. Catherine have also deepened Parallel’s pipeline and reinforced Kintyre’s asset-backed growth strategy.

For the year ended 31 December 2025, the Group generated revenue of J$271.1 million (2024: J$216.8 million), an increase of +25.0%, and net profit of J$157.5 million (2024: J$72.0 million), an increase of +118.8%.

Operating profit increased +65.1% to J$156.6 million (2024: J$94.7 million), reflecting improved profitability across the portfolio. Profit attributable to shareholders of the parent was J$148.8 million (2024: J$54.5 million), an increase of +173.2%, and earnings per share remained flat at J$0.08 (2024: J$0.08). 

Wilson said, “I want to thank our key partners, our Board, our team, and the new investors who placed their faith in me, especially during the tough times. We are building a corporate brand to stay. Crossing approximately US$10 million in assets is something to be proud of, and it confirms that the work of the last 24 months is showing up in real balance sheet strength.”

Kintyre has also advised the Jamaica Stock Exchange that it is evaluating its path to graduate to the Main Market, reflecting its growing scale and asset profile.