Kingston Properties Looking to Monetize More Assets In A Bid To Streamline Operations

• Kingston Properties has said it is looking to monetize more assets in a bid to streamline operations. CEO Kevin Richards said in addition to other projects already exited, the company is looking to sell property in New Kingston, a deal it hopes will be concluded shortly.
• He noted that the company has already monetized condos it had in Florida and is looking to do the same with others.
• It was further highlighted that the company will be shifting its strategy towards a more dynamic one which would mean a reduction in its holding period. Typically, the company holds property for 5 to 7 years, however, there are some that the company will hold for a shorter period.
• The company is also considering more construction opportunities based on current market trends. Currently, demand mainly exists in the warehousing and flex space (a combination of warehouse and office spaces), and as such the company is looking for those opportunities in Jamaica, the Cayman Islands, and as far away as Europe.

(Source: RJR News)