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LEFT: A section of the Emerald Estate town houses being undertaken by Kemtek in St. Mary. RIGHT: Sylvester Tulloch, managing director of Kemtek.

Dionne Rose, Business Reporter

Kemtek Development and Construction Limited, an 18-year-old company, has invested $500 million in its Emerald Estate town houses in St. Mary, according to principal Sylvester Tulloch.

Tulloch is actually now working on phase two of the development at Huddersfield, comprising 33 'deluxe' town houses.

The two-bedroom units are listed at a starting price of $10.5 million, said Tulloch, while the three-bedrooms start at $11 million.

The units are currently being marketed. Tulloch said the development should be completed by August.

Buyers are required to pay down 15 per cent on signing, with another 10 per cent due in two months. The other 75 per cent is payable at delivery of the unit.

The half a billion invested covered both phases of Emerald Estate, according to Tulloch, covering 21 acres of land.

The two gated communities are adjoining.

Phase one delivered 75 units two and three bedroom single family units, which were all sold off. Those were priced $6 million to $8 million.

The current units have a minimum size of 1,450 square feet and each is piped for solar water heating and features 2.5 bathrooms. The gated community will also has a swimming pool.

Emerald Estate is not the first development for Kemtek in St. Mary, said Tulloch. He also did the Rio Nuevo Resort Beach and Villas development.

Outside of St. Mary, Kemtek has done Keystone phase two in St. Catherine, Stilwell Mews in St. Andrew, and Greenwich Estate at Drax Hall in St. Ann.

Tulloch said he would next be developing 150 two-bedroom units in Falmouth, Trelawny.

dionne.rose@gleanerjm.com