Sygnus Group has significantly expanded its real estate portfolio with a strategic US$20-million investment to develop the Lakespen Industrial Park in St. Catherine, Jamaica. This major infrastructure initiative is designed to fuel the nation’s growing logistics and industrial sectors by offering secure, state-of-the-art operational spaces for businesses aiming to expand or modernize their facilities.
During the project’s groundbreaking ceremony, Berisford Grey, CEO of Sygnus Capital and company co-founder, articulated the vision behind the investment: “Our commitment stems from a firm belief that Jamaica is positioned to lead the Caribbean in logistic infrastructure development.”
The 55.4-acre property, acquired in March 2020, will feature 34 serviced lots ranging from one to three acres after accounting for essential infrastructure. The development plan emerged from a meticulous master planning process with leading architectural consultants and a comprehensive feasibility study conducted by a renowned Washington, DC-based industrial consultancy. This study identified a substantial market demand, revealing over 1 million square feet of need for industrial warehousing space in Jamaica.
David Cummings, Vice President and Head of Real Estate & Project Finance at Sygnus, explained how these findings shaped their strategy: “The analysis uncovered a distinct market segment comprising businesses that lack the capital to develop their own facilities. This insight drove our decision to create an industrial subdivision with ready-to-build lots.”
The Lakespen Industrial Park will incorporate robust security measures including a 2.4-meter perimeter wall with anti-climb features, surveillance systems, and an armed security presence. Critical infrastructure enhancements feature a 70,000-gallon water reserve tank and an underground electrical distribution system—a design element that provides crucial business continuity advantages, particularly following Hurricane Melissa’s recent impact.
Cummings emphasized: “The underground electrical system was integral to our original design, not merely a reaction to hurricane conditions.”
With regulatory approvals secured and a construction contract awarded to China Harbour Engineering Company (CHEC), the project remains ahead of its original 2026 schedule. Lot handovers are now targeted for summer 2027, following Prime Minister Andrew Holness’s call to accelerate economic activity after Hurricane Melissa.
The development forms part of Jamaica’s broader strategy to establish the Lakes Pen and Caymanas corridor as a premier logistics hub. This initiative complements adjacent projects including the Port Authority of Jamaica’s Caymanas Logistics Hub and the Urban Development Corporation’s Raintree industrial park.
Prime Minister Holness expressed strong confidence in the development: “These strategic decisions will transform the Caymanas area into a powerful logistics hub that integrates seamlessly with Portmore.”
The Lakespen project joins Sygnus’s growing real estate investment pipeline valued at over US$300 million, which includes developments like One Belmont. According to Grey, approximately 40% of Sygnus’s deployed capital currently invests in Jamaican projects, supported by the company’s ability to secure international investment funding. Grey further emphasized the need for greater participation from Jamaican institutional and individual investors in alternative investment markets to drive value creation across the economy.