NewzIRONSHORE, St James — Wednesday’s much-anticipated opening of the US$28-million PriceSmart in this western parish has been hailed by Rodrigo Calva, the company's Executive Vice President of Real Estate, as the fulfilment of a broader investment strategy in Jamaica. “This new club, our third one in Jamaica, represents an investment of more than US$28 million and is part of our larger commitment to invest in Jamaica,” stated Calva during the official ribbon-cutting opening ceremony held at the facility located at Lot C1, Ironshore, on the outskirts of Montego Bay. “A couple of years ago, we announced our plans to make several large investments in this beautiful country.
Accordingly, last year, we opened a new and modern $5 million central bakery facility, the first of its kind in the PriceSmart portfolio, which is already making a big impact in our ability to serve our Jamaican members' bakery needs,” added Calva. The executive further provided insight into future expansion plans for the island. “This club is the second step towards such a plan, and in just a few months, we anticipate opening our fourth club and our new distribution centre, which combined represent US$33 million of additional investment,” revealed Calva.
He noted that active consideration is currently being given to additional investment opportunities at the Portmore club, bringing the total combined investment across all projects to approximately US$70 million in just a few years. Calva credited the Jamaican Government and the Jamaica Promotions Corporation (JAMPRO) in particular for playing a key role in making these investments possible. This club will support the development of your country's western region.
We have built a modern facility of over 67,000 square feet, including almost 44,000 square feet of sales floor space, complemented by a parking area with 277 spaces for the convenience of our members,” revealed Calva. “It was designed and built according to rigorous sustainability and efficiency standards. It features high-efficiency LED lighting, smart energy management systems, modern CO2 refrigeration technology, and in the near future, we’ll add solar panels which will allow more responsible energy consumption.
We also incorporated systems that help us use resources more effectively and reduce our environmental impact,” added Calva, who also recogn…
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