Real-estate transactions for properties located in downtown Kingston, Jamaica have been increasing over the past year as local companies and private investors expect a resurgence of business there in coming years. Real-estate experts attribute much of the renewed interest in downtown to the Digicel Group's move to establish its global headquarters on the waterfront, and the latest major acquisition is Guardsman Group's purchase of the former Caribbean Fencing property from the Urban Development Company (UDC).

Interest is also being driven by government plans to set up an offshore, low-tax centre on the waterfront, which is forecasted to bring 50,000 new jobs. The UDC is also aggressively marketing  the tax incentives under the Urban Renewal Tax Relief programme  available to investors in property in downtown Kingston. The UDC is also giving up its own office space at a prime spot on the waterfront and putting that building on the market, while moviing its headquarters to the edge of downtown Kingston. A number of real estate transactions have been disclosed by the UDC, including a new hotel and condominium deal for the Kingston waterfront.

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