International real estate conference returns after 5-year absence Loop Jamaica

The content originally appeared on: Jamaica News Loop News

After a five-year hiatus primarily due to COVID-19, an international real estate conference is set to take place in Montego Bay in April.

The International Real Estate Conference and Expo (IREC) hosted by the Realtors Association of Jamaica (RAJ) will be held at the Montego Bay Conference Center from April 20 to 22. 

Speaking at the conference launch at the Jamaica Pegasus Hotel in Kingston on Wednesday, IREC chairman Edwin Wint said the conference, being held under the theme “The future of investments in real estate – Destination Jamaica” will navigate through a myriad of seminars presentations and panel discussions on subjects such as real estate as a vehicle for national development, green and smart buildings, tourism and real estate, property management, mortgages in the 21st century and AI (artificial intelligence) in real estate. 

He said the conference will showcase companies offering all facets of home ownership, including mortgages, home improvement loans, appliances, construction, furniture, security systems, paint, and windows and doors. 

 “It will not be all work – the expo will have fun for kids, music and entertainment throughout”, Wint said. 

Donovan Wignall, President of the MSME Alliance, speaking on behalf of the Private Sector Organisation of Jamaica (PSOJ) described Jamaica’s real estate industry as “a beacon of growth contributing significantly to our economy by improving tax revenues and creating significant employment opportunities”. 

Citing data from the Statistical Institute of Jamaica (STATIN), het outlined that the core activities of renting, selling and developing properties contributes between seven and nine per cent of the country’s GDP and is a pivotal driver of the construction industry.

“The growth in the homeownership sector in Jamaica is not merely reflected in numerical figures. It symbolises the aspirations and dreams of numerous Jamaicans as they try to build a better life for themselves and their families”, Wignall said. 

The MSME Alliance head described the role of the RAJ as gatekeepers safeguarding the industry against involvement in practices such as money laundering and terrorism as invaluable, “especially as we strive to remove Jamaica from the Financial Action Task Force (FATF) grey list”. 

He also called for collaboration between the real estate industry, the PSOJ and Jamaica’s education and training institutions “to establish global competitive training programs for skilled trades needed in the industry”. 

Denroy Pusey, Assistant Vice President of the First Rock Group, representing the conference’s sponsors, commended the RAJ for staging the conference, and described the realtors as “a very essential part of the growth and development of Jamaica’s economy”.

“The developments that we will be bringing to the market we rely on realtors to promote and sell for us…In short order, we will be completing our Hambani development project, our Bonne Chance development, and others to follow after that”, he said. 

Speakers at the conference include guests from overseas including, the US and representation from the “executive Cabinet level” of the government, disclosed Roger Allen, second vice president of the RAJ.