Parallel Real Estate and Barita announce leadership changes as markets stay active

Parallel Real Estate Ventures, a subsidiary of Kentire Holdings Jamaica, has moved to a new management structure after the immediate resignations of co-chief executives Randy Matthysse and Sice Bell. Matthysse will continue as a major shareholder and is expected to sit on several company board committees.

The company has named Edwin Zhao, an American citizen and former Tesla team member, as president and chief executive officer. Dne Farweather, also American and of Jamaican descent, has been appointed chief operations officer after also working with Tesla.

Barita Investments also announced a leadership change in its property business following the completion of demolition work at its New Kingston site. The former Eden Gardens Hotel on Lady Musgrave Road, purchased for J$470 million, is being positioned as a flagship asset in Barita’s real estate portfolio. Bernard Stalker has been appointed chief executive officer of Barita Real Estate Development Limited.

Stalker, described as an architect by training with 20 years’ experience across construction and finance, said Barita has significant land available for large-scale development. He said the group holds seven properties covering 2,000 acres, including Kingston sites on Lady Musgrave Road, Harbour Street and Ferry Pen, as well as north coast holdings at Windsor Estate, Reggae Beach, Green Castle and Ruins at the Falls.

For the May 29, 2026 trading period, Wigton Energy Limited led market activity with 68,572,279 units, or 55.43 per cent of sales activity. Kentire Holdings Jamaica Limited followed with 19,461,21 units, representing 15.73 per cent, while TransJamaica Highway Limited accounted for 5,266,897 units, or 4.26 per cent.

Bank of Jamaica foreign exchange data for May 29 showed active trading across major currencies. The US dollar was listed as selling at J$156.42 and buying at J$158.44. The Canadian dollar sold for J$117.19 and was bought at J$112.17, while the British pound sold for J$214.58 and was bought at J$207.86.

The report also urged small business owners to build relationships with banks, credit unions, microfinance institutions, development agencies, private investors and suppliers before cash flow pressures arise, arguing that wider funding options can support growth and reduce vulnerability.