Island's first luxury beachfront community continues to entice buyers worldwide.
(MONTEGO BAY, JAMAICA) - December 1, 2006 - The renaissance taking place on the Gold Coast of Jamaica has caused a recent surge in real estate sales and has led to the immediate release of the Sentry Palm building at The Palmyra Resort and Spa at Rose Hall. On the heels of its May 2006 Priority Selection Event and in the midst of a successful sales season, The Palmyra Resort & Spa
at Rose Hall has recently expanded its Project 1 real estate offering, releasing a new condominium building to meet growing demand. Project 1 of development now consists of three condo buildings, several villas, The Palmyra E'SPA, infinity pool, beach and two restaurants, and is slated to reach completion in Spring 2008.
"Buyers are recognizing the tremendous lifestyle and real estate opportunity afforded at The Palmyra," said Robert T. Trotta, moving force behind the Resort Properties Group, developer of The Palmyra. "As predicted, we've received high demand for our community and only expect it to increase as the project nears completion. The Palmyra perfectly complements the multitude of positive changes occurring on Jamaica's ‘Gold Coast'."
The Palmyra, Jamaica's first luxury beachfront community, has found significant success with buyers hailing from the U.S., U.K. and Jamaica purchasing luxury condos and villas. The newly-added Sentry Palm building will house 94 richly-outfitted residences including Caribbean Suites, one-bedroom condos and penthouses. All residences throughout the community are fully-furnished and designed to capture the style, spirit and scale of its surroundings, with each unit granted views of the Caribbean ocean.
The comprehensive real estate offering for Project 1 of The Palmyra is as follows, with prices ranging from the $450s to $3.5 million:
* 13 duplex buildings comprising 26 villas
* Each villa features three bedrooms and ranges from 3,581 to 5,397 square feet
* 5 condominium buildings with approximately 630 individual luxury residences
* One- and two-bedroom condos ranging from 645 to 2,734 square feet
* 14 Penthouse residences ranging from 2,260 to 3,595 square feet
The Palmyra reached $100 million in sales for its luxury villas and residences, resulting in the complete sell out of the community's Sabal Palm building and a significant number of residences in the Silver Palm building, all of which are from the development's first phase offering. As The Palmyra nears completion of Project 1's sellout, prices will continue to increase and additional real estate offerings will be released.
Located on 16 acres of pristine waterfront property in Montego Bay, The Palmyra provides world-class amenities and unparalleled indulgence in a tropical village setting. In contrast to the current premiums placed on beachfront property in Florida or other Caribbean islands, The Palmyra provides a value-added lifestyle with an inherent investment opportunity. In addition to their own island retreat, residents and guests will have access to The Palmyra E'SPA, a 23,000 square foot spa, personal concierge service, and a selection of enrichment classes or activities based on Jamaican culture. Additionally, residents and guests will have preferred access to the three renowned Rose Hall golf courses—the White Witch, Cinnamon Hill and Half Moon.
Bringing The Palmyra to life is Rose Hall Developments, the company that has masterfully planned the entire 5,000-acre community of Rose Hall Plantation, in partnership with the Resort Properties Group. The Resort Properties Group is a highly-respected development company with more than 20 years of expertise in creating spectacular, international luxury communities in Europe.
