Claiming the top property portfolio in Jamaica for two consecutive years, Victoria Mutual Wealth Management (VMWM) is reporting 14.3 per cent growth in 2019.

According to VMWM, following its 2018 strategy which brought its property fund to the number one spot, VMWM continued to invest in prime, commercial real estate. This led to a massive surge in subscriber growth from corporate and retail investors last year.

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The company added that in 2019, investors in the VMWM property portfolio saw enormous returns on their investments, including a cash yield of 5 per cent, property appreciation of 9 per cent, with an occupancy rate of 98 per cent. This means that nearly 100 per cent of properties owned by the fund have been leased and generated income, which directly and positively impacts returns on investments.

“We are indeed pleased at the performance for the past two years which reinforces our strategy of investing in marquee properties in the main business districts in Jamaica. This includes investments in high-quality real estate-holding companies listed on the Jamaica Stock Exchange. Creating value in the medium term will require additional capital expenditure as we reposition our properties,” said Rezworth Burchenson, chief executive officer of VMWM.

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“Investing in our property portfolio makes sense, as it allows any Jamaican to participate in the fast-growing real estate market with ease and speed without the transaction costs — which technically makes you part-owner of all our properties invested in,” he continued.

The VMWM Property Portfolio, launched in 2016, now manages real estate assets valued to over $5 billion.

Caribbean Region, Latest News

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— Abbion Robinson