Jamaica’s Palmyra reaches $100 mn in sales

The Palmyra Resort & Spa at Rose Hall has proven that the renaissance on Jamaica’s Gold Coast is in full swing, as reservation holders from around the world flew into Montego Bay, Jamaica, May 5-6 to attend its Priority Selection Event held at the neighboring Ritz-Carlton(R) Golf & Spa Resort. The premier luxury beachfront community reached $100 million in sales for its high-end villas and residences, resulting in the complete sellout of the community’s Sabal Palm building and a significant number of residences in the Silver Palm building from the development’s first phase offering.

“I researched real estate opportunities in the Cayman Islands and Bahamas and found the value to be significantly better in Jamaica,” said Robert Lawrence, a new Palmyra resident from West Chester, Pennsylvania. “The renaissance on the Gold Coast and confluence of island improvements has made the timing ideal for buying.”

New Palmyra residents will be able to begin using their residences in late 2007 when construction of Phase I, which includes two condominium buildings, villas, the ESPA and restaurant, is scheduled to be completed. As The Palmyra nears completion of Phase I’s sellout, prices will continue to increase and additional real estate offerings will be released.

“This successful weekend marks the beginning of what The Palmyra will be—a community unlike any other, offering residents and guests the finest in island style living. We’re thrilled to welcome our new neighbors,” added Robert T. Trotta, moving force behind the Resort Properties Group, developer of The Palmyra.

Located on 16 acres of pristine waterfront property in Montego Bay, The Palmyra offers world-class amenities and unparalleled indulgence in a tropical village setting. The Palmyra will provide a value-added lifestyle with an inherent investment opportunity that ranges from the $400s to $5 million. In addition to their own island retreat, residents and guests will have access to The Palmyra ESPA, a 42,000-square-foot spa, personal concierge service, and a selection of enrichment classes based on Jamaican culture. Additionally, residents and guests will have preferred access to the renowned Rose Hall golf courses—White Witch, Cinnamon Hill and Half Moon.