Hosanna Estate Advances With JN Bank Support

ST. ANN, Jamaica — Hosanna Estate developer Delroy Reid says continued engagement with JN Bank is helping advance the gated housing project near Ocho Rios. Meanwhile, demand grows among Jamaican and overseas buyers.

JN Bank finances Hosanna Estate and features the development in its preferred developer program. This program connects prospective homeowners with participating housing projects and mortgage options.

JN Group’s Own Your Journey Tour

Reid, founder and director of DCR Construction and Development Limited, met with JN Bank Managing Director Luwanna Williams. He also met with members of the bank’s St. Ann leadership team during an Oct. 2 visit. The stop was part of the JN Group’s Own Your Journey Tour. In addition, it included a walkthrough of a model home.

Reid said regular communication between the developer and its financing partner is critical. It helps keep construction and home financing on track.

“To be successful in anything in life, communication is key. When communication breaks down, it creates problems,” Reid said. “It is important that we maintain communication and continue to build on it to ensure that JN Bank is kept up to date as things happen on the ground at Hosanna Estate. I believe that would make the process easier and more effective for both of us.”

Planned Gated Community

The six-phase development in Beecher Town is about seven minutes from Ocho Rios and six minutes from the Golden Grove exit of the North-South Highway. It is being marketed as a gated community combining luxury, affordability and modern living.

Reid said the first two phases are nearly sold out and that overseas demand is driving interest. In fact, about 75% of prospective buyers are overseas, while 25% are in Jamaica, he said.

Hosanna Estate offers two- and three-bedroom homes. Planned amenities include a tennis court, gym, children’s playground, shopping center, restaurant, football field, basic school and elderly home center. The development also plans 24-hour security and access to the Georgian Style Great House Estate.

Williams said the partnership gives JN Bank another opportunity to support Jamaicans at home and in the diaspora who want to become homeowners or invest in Jamaica real estate.

“Through Hosanna Estate, we are helping Jamaicans at home and in the diaspora to achieve their homeownership goals,” Williams said at a JN members’ meeting after the tour. “JN Bank is here to serve you, support your aspirations and grow with you, whether you are living here in Jamaica or overseas.”

Williams said feedback from the site visit and JN Bank employees in St. Ann gave her a more complete view of the project and could inform adjustments as buyer interest increases.

“That is an example of why feedback matters,” she said.

St. Ann was the second stop on the JN Group’s Own Your Journey Tour after its launch in St. Mary. The initiative is designed to connect members, customers and communities with support for their financial and personal goals.

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