Date: June 5, 2025
Location: Kingston, Jamaica
Receivership of Hambani Estate by Sagicor Bank Jamaica
FirstRock Real Estate Investments Limited has confirmed that the Hambani Estate residential development, located at 1–3 Bamboo Avenue, Kingston 6, has been placed into receivership by Sagicor Bank Jamaica Limited. The decision was made following the maturity of a US$10 million loan facility used to finance the construction of the luxury villa project.
Hambani Estate was envisioned as a high-end gated community of 12 stand-alone villas, designed to appeal to Jamaica’s ultra-wealthy clientele. The development is 90% complete, with practical completion already achieved. Despite the upscale design and strong location in Kingston 6, only one unit has been sold since construction began in 2022.
Sagicor Bank, citing a lack of resolution after several months of negotiations, exercised its legal right to take possession of the remaining lots under the terms of the credit facility. The bank noted th…
