Negril Airport plan, government debt offers and market activity lead Jamaica business update

Plans for a new airport serving Negril led Jamaica’s business developments on May 27, with Airport Authority of Jamaica technical director Hares Bryson outlining the project at the Tropics Investment Conference at Travellers Beach Hotel in Negril.

The proposed airport site covers more than 200 acres at Little London in Westmoreland. Its first phase is projected at US$287 million and is to be funded from passenger fees collected at Norman Manley International Airport and Sangster International Airport. Groundbreaking was delayed by the October 2025 hurricane, but Bryson said work is expected to begin in the current financial year.

The facility is planned as a Code C airport with a 2,240-metre runway, allowing aircraft up to Boeing 737 size to arrive from the United States and Canada. It is forecast to handle as many as one million passengers in its first decade and shorten the three- to four-hour road trip from Montego Bay’s Sangster International Airport to Negril.

The Government of Jamaica is also moving to raise $6 billion locally to help fund its $1.44-trillion national budget. A 7.5 per cent benchmark investment note seeks $3 billion, with a $1,000 minimum purchase, first interest payment due August 28, and maturity on February 28, 2035. A second $3-billion offer carries an 11.25 per cent annual rate, also with a $1,000 minimum, first interest payment less 25 per cent withholding tax due August 11, and maturity on February 12, 2046.

For May 26 trading, Kintire Holdings Jamaica Limited led activity with 52,477,729 units, or 42.52 per cent of market sales. JMMB Group Limited 7.35 per cent cumulative redeemable preference shares followed with 33,335,135 units, while One on One Educational Services Limited traded 12,408,938 units.

Bank of Jamaica foreign exchange data showed the US dollar selling at $155.86 and buying at $157.90. The Canadian dollar sold at $114.53 and bought at $113.93, while the British pound sold at $212.30 and bought at $210.22.

The report also cautioned dual citizens to manage credit obligations carefully across countries, noting that income, exchange rates, banking ties and borrowing should be aligned before using cross-border credit capacity or pooled investment partnerships.