PanJam To Take On More Debt For Hotel Projects

, PanJam To Take On More Debt For Hotel Projects

Wednesday | November 27, 2019

Property and investment conglomerate PanJam Investment Limited needs new cash to finance the build-out of two big construction projects.

These are the second phase of its ROK Kingston hotel and its still-unnamed business hotel and condominiums at Freeport in Montego Bay.

The $2.4 billion the property investor is estimated to have raised from the sale of 32 million of its shares in Sagicor Group – representing a tiny fraction of its then 31.6 per cent stake in the insurance and financial services giant – will not be enough to cover its immediate cash needs.

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