The Morant Bay Urban Centre (MBUC) in St. Thomas, the first development of its kind in Jamaica, is nearing completion and is set for a grand opening in 2025. As an equity partner in the project, the Factories Corporation of Jamaica Limited (FCJ) has officially begun the client selection process for this expansive 500,000+ square-foot facility.
Based on the increasing demand for space from micro and small businesses (those requesting space below 800 square feet) and those providing medical services, a decision was made to create a dedicated micro business park for these businesses and a medical block for health practitioners. These additional spaces will be introduced in phase two of the development.
As of December 4, 2024, FCJ has received and processed 143 Space Reservation Agreements. While non-binding, these agreements formally express interest in the space and outline the specific requirements of the interested parties. The majority of these interests have been for food and eatery services, along with retail and wholesale operations.
The next phase of the selection process will involve a thorough vetting of all applications. Key criteria for consideration include:
- The applicant’s existing relationship with equity partners (NCB, FCJ).
- Whether the applicant’s business is indigenous to Thomas.
- The number of jobs the business is expected to
- Membership in relevant industry associations (e.g., JMEA, JCC, SBAJ, PSOJ, YEA).
- The type of industry the applicant operates
- The economic and social sustainability of the
- The applicant’s financial capacity to support ongoing
As part of the due diligence process, shortlisted applicants will be contacted for additional information such as company registration, business plan and financial statement. If the client meets the requirements, they will be quoted with the rental and maintenance rate for the space assigned.
Final approval will be granted by the Board of the Morant Bay Urban Centre Limited. Following this final approval, all applicants will be updated on the status of their application. Approved clients will be required to submit a security deposit and will receive a three-month moratorium to retrofit their space in accordance with their lease terms.
It should be noted that priority has been given to all government agencies and at least 20 percent of businesses operating in St Thomas will be allotted space. Additionally, significant efforts are being made to ensure that no more than two companies within the space offer the same services, in order to promote growth and ensure the long-term viability of their businesses.
We look forward to welcoming businesses that align with the vision of the Morant Bay Urban Centre, contributing to the social and economic growth of St. Thomas.
