Finance Minister Dr Nigel Clarke has hailed the arrival of global leader in real estate, Sotheby’s International Realty, on Jamaica’s shores as a signal of an inevitable turnaround for the island.
Speaking during the company’s launch ceremony last Friday (October 8), Clarke said: “What we celebrate here today is not merely another real estate agency, what we are celebrating is the potential for opening up Jamaica’s opportunity to a wider audience than what has previously paid attention to Jamaica and that is something to celebrate.”
The minister also emphasised the role of timing in the start of the new venture.
“You could’ve waited… you could’ve said ‘let me see exactly what happens over the next few months’. After all, we are in the midst of a world crisis. (However,) the fact that you have gone ahead and opened not just another real estate firm, but you have brought one of the predominant brands to Jamaica, and at this time, speaks volumes to the confidence that exists in Jamaica and the confidence that this storm we are experiencing will pass, and Jamaica will recover and recover stronger,” said Clarke.
Speaking further on the matter of timing, Julian Dixon, operations manager for Sotheby’s International Realty
in Jamaica, stated: “I believe we are doing this at the most propitious time. The luxury market in Jamaica is dynamic; it has much to offer – condos in the city or villas atop the mountains or among marine life.”
With the launch of the luxury realty company in Jamaica, an investment that will lead the country through “torrential times”, the event’s keynote speaker, Adam Stewart, executive chairman of Sandals Resorts International, relayed that the new partnership will serve to highlight luxury, “a segment that has been long forgotten in… Jamaica”.
Stewart said: “It is a critical segment because with this luxury segment comes foreign direct investment. I believe this will open up a whole new level of opportunities to the country of Jamaica.”
Sotheby’s International Realty Jamaica is owned by Alexander Melville but remains affiliated with Sotheby’s International Realty, which will provide great exposure to Jamaica and significant benefit to investors.
Jamaica’s Sotheby’s International Realty listings will be marketed on the sothebysrealty.com global website. In addition to the referral opportunities and widened exposure generated from this source, the firm’s brokers and clients will benefit from an association with Sotheby’s auction house and worldwide Sotheby’s International Realty marketing programmes.
The Sotheby’s International Realty network currently has more than 24,000 affiliated independent sales associates located in approximately 1,000 offices in 74 countries and territories worldwide.
Founded in 1976 to provide independent brokerages with a powerful marketing and referral programme for
luxury listings, the Sotheby’s International Realty network was designed to connect the finest independent
real estate companies to the most prestigious clientele in the world.