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KINGSTON, Jamaica — Fresh data compiled by the Realtors Association of Jamaica (RAJ) through its industry-leading Multiple Listing Service (MLS) has painted a surprisingly resilient picture of the country’s real estate sector, showing the market generated a staggering J$99.3 billion in total property sales across 2025. This robust performance comes even after the widespread economic disruption caused by Hurricane Melissa, defying broader expectations of a slowdown across the sector.

Analysis of the aggregated MLS data shows that three parishes — St Andrew, St Ann and St Catherine — accounted for the overwhelming majority of total 2025 sales activity, with growth driven by two complementary forces: strong urban residential demand and sustained tourism-linked investment. The results cement real estate’s long-standing role as a core pillar of Jamaica’s national economic growth.

Roger Allen, RAJ Second Vice-President and chair of the MLS Committee, outlined the dual-market dynamic shaping current industry trends. “On one hand, we have high-volume urban markets serving local homebuyers and commercial users, and on the other, high-value, tourism-focused parishes that deliver strong returns even with far fewer total transactions,” Allen explained.

Breaking down 2025 parish-by-parish performance, St Andrew claimed the top spot nationally, pulling in J$41.17 billion across 1,727 recorded transactions — leading the country in both total revenue and transaction volume. St Ann followed closely behind with J$27.36 billion in sales, with growth propelled entirely by surging tourism-related investment in vacation properties and resort-adjacent developments. St Catherine generated J$11.71 billion across 700 transactions, a figure that reflects the parish’s ongoing large-scale residential expansion to meet growing demand from urban commuters.

Westmoreland posted J$6.86 billion in total sales from just 52 high-value transactions, signaling that most activity in the parish centers on large luxury resort and vacation home developments. St Mary recorded J$3.40 billion in sales, reflecting growing investor confidence in the area’s long-term tourism potential, while Manchester hit J$2.36 billion supported by steady, consistent residential activity. St Thomas was the weakest-performing parish in 2025, recording just J$96.2 million in MLS-tracked sales.

A key trend highlighted by the data is that while most parishes recorded fewer total transactions in 2025 compared to 2024, multiple parishes delivered higher total annual revenues — a clear indicator that property values are rising rapidly across Jamaica’s key high-demand markets. Among the parishes that saw higher revenues in 2025 despite lower transaction volumes were St Catherine, Westmoreland, St Ann and St Mary. Even St Andrew, which retained its national lead, recorded a small year-over-year decline in both transaction volume and total revenue compared to 2024 figures.

“St Andrew’s dominance in the market is not surprising, but the scale of its lead over other parishes remains significant,” Allen noted. “The Corporate Area continues to act as the undisputed engine of Jamaican real estate activity. The bigger question moving forward is how we can unlock sustained, inclusive growth across other parishes that have not seen the same level of activity.”

The 2025 MLS data also reinforces a long-observed connection between public infrastructure investment and property value appreciation across the island. “Highway expansion and targeted urban development projects consistently lift surrounding land values and accelerate both residential and commercial growth,” Allen explained. Areas that have recently benefited from upgraded road networks, expanded public utilities, new schools and hospitals, and increased commercial development — including Kingston, St Andrew, St Catherine, St James and sections of Clarendon — continue to draw strong buyer interest and steady investment inflows.

Beyond property sales, the Jamaican rental market also posted solid gains in 2025, generating J$772 million in tracked rental revenue between January and December. St Andrew, St Catherine and St Ann led all parishes in total annual rental revenue, while Westmoreland recorded the fastest growth rate in the rental segment. This trend underscores rising demand for short-term vacation rentals and long-term second home rentals in popular resort regions across the island.

It is important to note that the MLS figures are compiled from voluntary transaction reports submitted by roughly 2,000 registered realtors operating across Jamaica. The current dataset does not include direct sales from property developers or private transactions that are not processed through the MLS system.

Allen emphasized that the granular MLS data serves a much broader purpose than just tracking industry performance, providing critical insights for national economic planning. “Our MLS platform delivers real-time visibility into pricing trends, shifting buyer demand, persistent inventory shortages and changing transaction patterns across the country,” he said. “This information is critical for identifying underserved housing markets, persistent affordability gaps, and the infrastructure investments that will deliver the greatest long-term economic return.”

According to Allen, these insights can be leveraged to shape more effective national housing strategies and unlock targeted growth in parishes that have historically been underrepresented in national real estate activity.

KINGSTON, Jamaica — Jamaica’s largest financial institution, National Commercial Bank Jamaica Limited (NCBJ), has capped off a standout year of operational performance by collecting a suite of prestigious international banking awards from four of the sector’s most respected global organizations: The Banker, Global Finance Magazine, JP Morgan, and Capital Finance International. The announcement of the recognitions was made public by the bank in a press statement issued this Friday.

Among the most notable accolades, The Banker, a leading global financial publication, placed NCBJ at the top spot among all Jamaican banks across five critical performance metrics: overall profitability, operational efficiency, risk-adjusted returns, liquidity position, and aggregate banking sector performance.

Global Finance Magazine, another influential voice in international finance, extended NCBJ’s long-running winning streak with three separate 2026 honors: the title of Best Bank in Jamaica, Best FX Bank in Jamaica for the eighth consecutive year, and Best Trade Finance Provider in Jamaica for 2026. The bank also earned JP Morgan’s Elite Quality Recognition Award 2026, an honor reserved for financial institutions that achieve exceptional straight-through processing rates — a key metric that measures the share of automated payment transactions processed without requiring manual intervention, a key marker of operational efficiency.

Across all the recognitions, judges highlighted NCBJ’s strengths across core business areas: reliable access to foreign exchange, robust support for cross-border trade, consistent service reliability, and customer-centric service delivery. In particular, the eighth consecutive Best FX Bank win underscores the bank’s leading position in foreign exchange liquidity management, digital transaction execution, and customized structured FX solutions. NCBJ reported that its total annual foreign exchange activity across major global currencies reached $8 billion this year, a figure that reflects its market dominance in the segment.

Regional industry publication Capital Finance International further recognized NCBJ’s expanding influence across the Caribbean, naming it the 2026 Trusted Partner in Retail and Corporate Finance Leadership for the Caribbean region. The award acknowledges the bank’s long-standing work supporting both individual retail clients and large corporate entities across multiple Caribbean markets.

Speaking on the recognitions, NCBJ Interim Chief Executive Officer Sheree Martin framed the awards as a validation of the bank’s multi-year strategic transformation agenda. “These awards carry special weight because they are independently assessed, and they are rooted in measurable performance, operational discipline, and real impact for our customers and communities,” Martin explained. “They are a testament to the trust that our customers have placed in our institution, the incredible strength and dedication of our team, and our unwavering focus on building a bank that delivers consistent, high-quality results for all stakeholders.”

Martin emphasized that NCBJ remains committed to its core mission of building a stronger, more financially resilient institution to serve Jamaica and the broader Caribbean region. “At a moment when global benchmarking and independent validation of performance matter more than ever, our recognition on this global stage proves that a Jamaican financial institution can compete, outperform, and earn top honors alongside the world’s leading banks,” she added.

KINGSTON, Jamaica — In a dual announcement filed with the Jamaica Stock Exchange on Friday, Scotia Group Jamaica Limited unveiled a robust rise in first-half net profit alongside confirmation that its controlling majority shareholder is moving forward with plans to take the financial services group private.

For the six-month period ending April 30, the full-service banking and financial conglomerate posted a net income of $10.1 billion Jamaican dollars, marking a near 10 percent increase from the $9.2 billion recorded in the same period last year. The company credited the solid gains to broad-based expansion across its core operating divisions, including retail and commercial banking, investment services, and insurance lines, fueled by growing loan origination and rising customer deposit levels.

Scotiabank Caribbean Holdings Limited, the entity that currently holds a 71.78 percent controlling stake in Scotia Group Jamaica, has tabled a cash offer to purchase all outstanding minority-held shares at a price of $61.50 per unit. The announcement sent Scotia Group’s publicly traded shares climbing on Friday, with the stock closing the trading session at $58.43, a jump of $4.22 or 7.78 percent from the previous close. Even with the gain, the market closing price still sits $3.07 below the offered buyout price, creating a clear premium that minority investors will evaluate as they consider the proposal.

Alongside its earnings release, Scotia Group reported that shareholders’ equity hit $169.7 billion, equal to approximately $54.50 per issued share, while half-year earnings per share climbed to $3.24. These key financial metrics give minority stakeholders additional context to gauge the fairness of the $61.50 per share offer against the company’s underlying fundamentals and recent market performance.

Company leadership noted that top-line revenue growth was driven by an expansion of the group’s total loan book, with balanced gains recorded across mortgages, consumer personal loans, credit card lending, and commercial financing for businesses. Total customer deposits also expanded over the period, a trend the group framed as a reflection of ongoing client trust in its brand and service offerings.

Audrey Tugwell Henry, President and Chief Executive Officer of Scotia Group Jamaica, highlighted the company’s resilient performance in the latest quarter. “We delivered a solid performance during the quarter, reflecting the strength of our strategy, the resilience of our team, and the continued confidence of our clients,” Tugwell Henry said in a statement accompanying the results.

The group also reported a rise in operating expenses over the half-year, attributing the increase to three key factors: higher transaction processing costs, ongoing strategic investments in digital and banking technology, and increased asset tax obligations. Despite the higher costs, the company confirmed that credit quality remained broadly stable across its portfolio, with the share of non-accrual, delinquent loans holding below the average for the broader Jamaican banking industry.

In additional corporate news released Friday, the company’s board of directors approved a second interim dividend of 45 cents per share, scheduled to be paid out on July 23 to all shareholders recorded on the company’s registry as of July 1.

As of the end of April, Scotia Group reported a larger total asset base than it held at the start of the reporting period, and confirmed that it continues to exceed all minimum regulatory capital requirements across every line of its business operations.

The proposed privatization transaction remains contingent on two key approvals: a vote of approval from minority shareholders, and formal sanction from the Jamaican courts. If the deal moves forward and is completed, Scotia Group Jamaica will be delisted from the Jamaica Stock Exchange and operate as a privately held entity within Scotiabank’s regional Caribbean business network.

KINGSTON, Jamaica – In the latest daily trading session on the Jamaican foreign exchange market that wrapped up on Friday, June 12, the United States dollar recorded a notable downward shift against the Jamaican dollar, official data from the Bank of Jamaica shows. Per the central bank’s daily summary of exchange trading activity, the US dollar closed out the trading day at 159.19 Jamaican dollars, marking a 16 cent decline from its previous closing level. Beyond the performance of the US dollar, the day’s trading brought mixed results for other major global currencies paired with the Jamaican dollar. The Canadian dollar, for instance, gained ground over the session, climbing to a closing rate of 114.33 Jamaican dollars, up from its prior close of 113.61 Jamaican dollars. The British pound, meanwhile, posted a small downward adjustment, ending the trading day at 213.51 Jamaican dollars, a slight dip from its previous closing value of 213.65 Jamaican dollars. These daily exchange rate fluctuations reflect ongoing shifts in global currency markets and cross-border trade and travel dynamics that impact Jamaica’s open economy, with regular updates from the Bank of Jamaica providing transparency for businesses, consumers and financial stakeholders operating in the country.

LOS ANGELES – In a pivotal development for the global media and entertainment landscape, the U.S. Department of Justice has granted antitrust approval to Paramount Skydance’s $111 billion acquisition of Warner Bros. Discovery, multiple U.S. media outlets reported Friday.

According to reporting from Politico and Bloomberg, federal antitrust regulators signed off on the transformative combination without requiring mandatory asset divestitures or other policy concessions, after concluding the merger would not substantially undermine market competition across the media and streaming sectors. The Department of Justice had not issued an immediate formal response to requests for comment as of Friday, but the outlets confirmed a public announcement from the agency was expected later the same day.

If finalized, the deal will bring together Paramount’s global media portfolio with Warner Bros. Discovery’s lineup of flagship properties, including the 24-hour news network CNN, award-winning film studio Warner Bros. Pictures, and the major streaming platform HBO Max.

Politico’s reporting notes that Paramount CEO David Ellison held at least two closed-door meetings with senior antitrust officials to advocate for the merger, framing the combination as a strategic move to boost competitive pressure against far larger rivals in the streaming and big tech spaces. Ellison’s argument centered on the idea that a merged entity would be better positioned to challenge the market dominance of leading global streaming platforms.

Even with federal regulatory approval secured, the proposed merger still faces significant outstanding legal and regulatory headwinds on multiple fronts. Bloomberg reports that a coalition of roughly 10 U.S. states, led by California, is preparing to file an antitrust lawsuit challenging the deal as early as this month. This week, California Attorney General Rob Bonta’s office confirmed that the acquisition “remains an active investigation” for state regulators, leaving the path to finalization uncertain.

Beyond U.S. domestic scrutiny, the European Commission has also launched its own independent review of the merger to assess compliance with European Union antitrust rules, adding another layer of regulatory uncertainty to the transaction.

The race to acquire Warner Bros. Discovery and its decades-spanning, highly valuable content back catalog began last year, when a bidding war broke out between Paramount Skydance and global streaming giant Netflix. Industry observers note that many Hollywood insiders initially leaned toward a Netflix takeover, viewing it as the less disruptive of the two options. However, Paramount’s willingness to repeatedly raise its offer price eventually pushed Netflix to withdraw from the bidding process.

The takeover has been largely financed by David Ellison’s father, Larry Ellison, co-founder of tech giant Oracle and a prominent political ally of former President Donald Trump. One of the wealthiest people in the world, Larry Ellison provided a substantial financial guarantee that ultimately convinced the Warner Bros. Discovery board of directors to accept Paramount’s offer over competing bids.

Despite the progress toward closing, the merger has drawn fierce pushback from within the entertainment industry. Hundreds of working actors and directors have signed an open letter opposing the combination, arguing that the merger will reduce the number of independent content buyers, squeeze production budgets, and further strain an already challenging operating environment for creators in the sector.