Barita Investments Limited is strategically planning its approach to developing its substantial property holdings. CEO Ramon Small-Ferguson recently shared insights into the company’s investment strategy at the annual general meeting in Kingston. While the company is preparing to embark on development projects, there is no set timeline yet. Here are the key points discussed:
- Market Research and Strategy: Small-Ferguson emphasized the importance of conducting thorough market studies to determine the right inventory to introduce to the market. Barita’s development strategy involves creating assets for divestment rather than occupying them internally.
- Real Estate Market Conditions: The company is taking a cautious approach due to the current softening of certain segments of the real estate market. Small-Ferguson highlighted the significant decline in residential housing starts, especially from the National Housing Trust.
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Strategic Partnerships: Barita is actively seeking the right partners to collaborate on its development projects. Small-Ferguson reiterated the company’s role as an investor and manager, emphasizing the need for strategic alliances in the real estate sector.
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Development Timeline: While Barita expressed intentions to commence development in 2024, the exact timing will be determined by market conditions. Small-Ferguson noted that some assets will undergo development before others, with progress already underway at certain properties.
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Financial Performance: The Barita Unit Trust Real Estate Portfolio, which includes assets from its affiliate MJR Real Estate, witnessed significant growth in the first eight months of 2023. This positive performance reflects the company’s strategic investment approach.
As Barita Investments Limited navigates the dynamic real estate landscape, its focus remains on prudent decision-making and strategic partnerships. The company’s commitment to developing its property portfolio for divestment underscores its long-term vision for growth and sustainability in the real estate sector. Stay tuned for further updates on Barita’s development timeline and strategic initiatives.
