The quiet, once-overlooked parish of St Thomas is now commanding national attention as Jamaica’s real estate market experiences a significant geographic shift. A major signal of the parish’s newfound status arrived recently when the Office of the Government Trustee (OGT)—a little-known but powerful agency—listed five parcels of land for sale in the developing Mar Bella Estate, a residential enclave nestled within the parish’s rapidly transforming landscape.
The properties, priced between $8.1 million and $11 million Jamaican dollars, reflect the changing valuation of land in the eastern parish. Just a decade ago, these lots might have fetched half that amount—if that. Now, the Government Trustee’s decision to release the parcels signals both confidence in the market and an understanding of its trajectory.
"St Thomas is no longer a secret," says Dean Jones, founder of Jamaica Homes. "It’s where Kingston goes when it wants to breathe. Investors know this, and so does the government."
The Role of the Government Trustee in a Changing Market
The OGT, a division of the Ministry of Justice, plays a unique role in the economy. As the state-appointed liquidator of bankrupt estates and failed investment schemes, the agency is mandated to recover, manage, and eventually dispose of assets—including real estate—to help repay creditors. These include lands, homes, bank accounts, company shares, and other holdings tied to financial collapse or court-mandated settlements.
Although the OGT hasn’t revealed the specific background of the five parcels now listed, the agency has previously overseen assets from collapsed institutions like Cash Plus, World Wise Partners, and defunct construction ventures. According to public records, the OGT has recouped nearly $830 million and over US$1 million from its management of the Cash Plus liquidation alone. Yet thousands of former investors are still waiting to recover even a portion of their initial contributions.
Unlike private sellers, the OGT’s primary motive is not profit but liquidation. However, it still employs strategic timing.
"We don’t just sell as soon as we recover a property," noted a source close to the agency. "We wait for the right market signals—rising prices, increased demand, and investor confidence. And all three are happening now in St Thomas."
The St Thomas Boom: A Long Time Coming
St Thomas, long labelled Jamaica’s “forgotten parish,” is undergoing a transformation many are calling historic. For decades, poor road infrastructure and limited public services kept it isolated, even though it borders the capital. But that’s changing rapidly.
The Southern Coastal Highway Improvement Project (SCHIP)—a multibillion-dollar infrastructure effort—has been the game-changer. This project, aimed at creating a seamless connection from Harbour View in Kingston through to Port Antonio, has dramatically improved travel times, opened up rural communities, and paved the way for large-scale investment.
Suddenly, areas that were previously hard to reach are within a 45-minute drive of Kingston. New housing schemes, commercial hubs, and tourism initiatives are sprouting up, and prices are rising accordingly.
"The highway is not just concrete and asphalt," explains Dean Jones. "It’s a direct line to opportunity. It turns sleepy fishing towns into satellite communities of Kingston."
New Developments Signalling Serious Growth
In Bull Bay, the Sun Coast Beach Club, a 90-acre master-planned residential development, is already setting a new benchmark for luxury living outside Kingston and St Andrew. With modern, eco-conscious housing, community facilities, and access to private beachfronts, it reflects a trend that blends middle-class aspirations with resort-style amenities.
In places like Morant Bay, new commercial developments are starting to take root. The long-promised Morant Bay Urban Centre, while delayed, remains on the radar. New schools, road repairs, and upgraded health centres are part of a government push to decentralise Kingston's overburdened urban space.
"It’s not just expats and retirees looking east," Jones explains. "Jamaican families are realizing they can get more house and more land in St Thomas than anywhere else within touching distance of the capital."
Speculation and Risk: Opportunities with Caution
As land prices increase, speculation is inevitable. Reports suggest that lots purchased for $1–2 million a few years ago are now being flipped for three or four times that price. But some experts urge caution, warning that infrastructure must keep pace with the investment wave.
Utilities like water supply, electricity stability, and internet infrastructure remain patchy in some areas. Additionally, zoning clarity is lacking in sections of the parish where agricultural lands are quietly transitioning to residential use, sometimes without proper change-of-use permits.
Still, developers are pushing forward. Land titling is becoming more aggressive, especially with recent legislative efforts to improve land registration and the formalisation of informal settlements.
"St Thomas is a patchwork of potential," says Dean Jones. "You have titled beachfront land next to informal farming plots. The challenge now is making sure development happens with some kind of vision."
Mar Bella Estate: A Microcosm of the Future
The listing of properties in Mar Bella Estate by the OGT highlights the growing desirability of structured, gated communities in the area. While the development is still in its early phases, demand has been brisk. The location benefits from views of the Caribbean Sea, access to the new highway, and the appeal of a ‘fresh start’ for families priced out of Kingston.
The government’s involvement through the OGT also lends a layer of legitimacy. Unlike some private deals that might suffer from title ambiguities or questionable valuations, these lots are being sold through a state-backed process, offering transparency and legal certainty.
Real estate agents are already fielding inquiries from abroad, particularly among Jamaican diaspora in Florida, New York, and the UK, who are drawn by the lower entry price point compared to St Andrew or Montego Bay.
"Diaspora Jamaicans are tired of overpriced houses in saturated markets," says Jones. "They want value. St Thomas is giving them that, and more—beaches, community, and long-term upside."
What It Means for Jamaicans
For locals, the real estate boom is a mixed blessing. On one hand, it brings new jobs, better infrastructure, and rising land values. On the other hand, it also risks displacement, gentrification, and the loss of local culture if not managed properly.
Some residents worry that rapid development will outpace their ability to compete financially. However, initiatives such as the New Social Housing Programme (NSHP) and the Build on Your Own Land Programme offer potential pathways for equitable participation in the boom.
Banks and credit unions in the region are beginning to adjust their mortgage offerings, with more flexible terms aimed at first-time buyers in rural and semi-urban areas.
"We need to make sure this isn’t just a boom for the few," Dean Jones cautions. "St Thomas deserves development that lifts everyone—not just those with overseas connections or insider knowledge."
Looking Ahead: The Next 5 Years
Experts predict that if the momentum continues, St Thomas could rival parts of St Catherine and Clarendon in terms of real estate demand within five years. Key indicators to watch include:
Completion of SCHIP and adjoining roads
Opening of public-private health and education facilities
Government incentives for developers in the east
Diaspora investment in gated and mixed-use communities
Environmental regulations to balance development with conservation
The entry of the Government Trustee into the local sales mix reinforces the idea that institutional players are betting on the long-term promise of the parish.
Final Thoughts
The sale of land in Mar Bella Estate by the OGT is a watershed moment—not just for the agency but for the St Thomas real estate market as a whole. It illustrates that the eastern parish has officially entered Jamaica’s development narrative in a way that is likely to reshape the island’s housing map for years to come.
"We’re not just selling property anymore," concludes Dean Jones. "We’re selling belief in a future. And for the first time in a long time, that future includes St Thomas."
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Disclaimer: This article is for informational purposes only and does not constitute legal or financial advice. Please note: Jamaica Homes is not authorized to offer financial advice. The information provided is not financial advice and should not be relied upon for financial decisions. Consult a regulated mortgage adviser for guidance.