Jamaicans dominate ownership at Turtle Beach Towers
The newly opened Turtle Beach Towers condominium has become a proud symbol of local investment, with Jamaicans securing the majority of the 217 apartments. During the official opening ceremony, Minister of Finance and Planning, the Hon Edward Seaga, expressed his delight that almost all the units had been purchased, with only five being owned by foreigners. This strong local presence highlights the confidence Jamaicans have in their country’s real estate market and tourism sector.
Published Monday, February 14, 1972
Condominium declared open
The new Turtle Beach Towers condominium was declared open last Saturday afternoon by Jamaica’s Minister of Finance and Planning, the Hon Edward Seaga. A government statutory body, the Urban Development Corporation (UDC), and its subsidiary, the St Ann Development Company, built the condominium complex, which consists of 217 apartments in four high-rise towers, each 12 stories high, situated on a choice site of five acres on the western end of the Ocho Rios Bay.
Seaga expressed pleasure that the UDC had sold all the apartments and that the majority of apartment owners were Jamaicans, with only five foreigners owning apartments in the Turtle Beach condominium.
The apartments command magnificent views of the oceanfront to the north, northeast, and northwest, and views of the mountains to the south, southeast, and southwest. The complex includes a well-equipped restaurant, a swimming pool, and beach facilities.
Seaga pointed out that this was the first project completed by the UDC in its redevelopment programme for the Ocho Rios waterfront, which encompasses eight development sites in that area.
Seaga congratulated the large body of apartment owners who had turned out for the ceremony and said that their financial participation in the Turtle Beach project was a splendid gesture by Jamaicans in enhancing the future of tourism.
This condominium and similar projects offered a new opportunity to integrate tourism more meaningfully into the national life of the country. Overseas visitors, in addition to enjoying all the amenities of Turtle Beach, would have the opportunity to deepen their holiday experience by meeting and getting to know Jamaicans and the island, Seaga said.
The chairman of the function was Moses Matalon, chairman of the UDC and chairman of its subsidiary, the St Ann Development Company.
Among others attending were Leslie Nathan, the co-chairman of the St Ann Development Company, and the Custos of St Ann, the Hon Dr Osmond Tomlinson, and his wife. The president of the Apartment Owners Association, Valerie Levy, gave a brief address. The keys for the Towers were later handed over to her by Seaga.
A cocktail party followed.
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