Chairman of the Economic Growth Council, EGC, Michael Lee Chin, is raising concerns about speculations surrounding foreign investor, Puerto Caribe Properties Limited.
Puerto Caribe is the investment firm that negotiated with the government for the sale of the St Ann-based Rooms on the Beach property.
Former Contractor General, Dirk Harrison, who investigated the deal, called the sale an insult to the people of Jamaica, noting that the property was sold for US-6 million dollars less than the maximum valuation price.
In a media report last week, the attorney representing Puerto Caribe, Hugh Hart, warned that the company, could walk away from the US7.2-million dollar deal and its planned multi-billion dollar investment in Jamaica.
According to Mr. Hart, if there is any suggestion the company had anything to do with a shady deal, then it won’t remain at the helm of the project.
Mr Lee Chin says he would have walked away from the deal.
Michael Lee Chin, Chairman of the Economic Growth Council, speaking this afternoon at the council’s media conference.
According to Minister without Portfolio in the Ministry of Economic Growth and Job Creation, Daryl Vaz, if the firm breaches the contract, the property will return to the government at the same price it was sold.