• KPREIT has advised that it has completed the acquisition of a four-story, 32,000 square feet commercial building located at 52-60 Grenada Crescent in New Kingston. 
• The Company further advised that the purchased brings to a total of three properties held in Jamaica and that the building is fully tenanted with a wide cross-section of tenants ranging from law firms, government agencies, and a BPO firm.
• “The property was acquired at a price of $435 million and was financed both by a senior secured loan facility with CIBC First Caribbean Jamaica and the net proceeds of the sale of condos in the US,” KPREIT stated.

Source: JSE

At GraceKennedy Ltd.’s Annual General Meeting, held on Wednesday, May 30 at the Company’s Harbour Street, Kingston Headquarters; Don Wehby, Group CEO, signalled to shareholders some of the strategic plans for the Company in the lead up to its 100th year anniversary in 2022.

The company has outlined some key priorities which include: embedding lean management practices for increased efficiency; facilitating empowered and autonomous subsidiaries to foster entrepreneurship; maintaining strong corporate social commitments through the Foundations; consistent pursuit of innovation and new growth opportunities; and inculcating a customer-centric culture throughout the Group.

The leadership has made a firm commitment to achieve these goals and has already engaged the services of London Consulting Group a firm which previously worked with companies such as  Nestlé and ING.

Mr. Wehby also indicated that 2018 is expected to be a very successful year and the Company has set for itself an aggressive target of achieving a record-breaking J$100 Billion in revenues by year-end.

Source:  Media Release - GraceKennedy Group looks to 2022 by the GraceKennedy Corporate Communications Department, May 31, 2018.