Tuesday, July 16, 2024
spot_img
HomeNewsCaribbean NewsPriceSmart plans to build two warehouse Clubs in Jamaica and Colombia

PriceSmart plans to build two warehouse Clubs in Jamaica and Colombia

SAN DIEGO, California –  PriceSmart has announced that in September of 2019, it secured approximately 218,000 square feet of land in Jamaica upon which the Company plans to construct its second warehouse club in that country.  This club will be located within the city of Portmore, Jamaica. Portmore is a suburb west of the capital city of Kingston, Jamaica. The Portmore club is expected to open, approximately, in the fall of 2020.

In October of 2019, the Company acquired nearly 210,000 square feet of land in Colombia upon which the Company plans to construct its ninth warehouse club in that country. This club will be located in the Floridablanca Municipality, south of Bucaramanga, Colombia. The Bucaramanga club is also expected to open, approximately, in the fall of 2020.

“We are pleased to announce two new clubs expected to open next fall.  The first is the Portmore club, marking our second club in Jamaica. Our first club, located in Kingston, Jamaica, has been a strong performer for PriceSmart, and we believe that there is solid demand for multiple warehouse clubs in this country.”

“The second new club will be located in Bucaramanga, Colombia and will bring our club count in Colombia to nine. The Bucaramanga club and the recently announced club at 170th Street in Bogota reinforce our belief in the growth opportunities in Colombia for PriceSmart and our membership warehouse club model,” commented Sherry Bahrambeygui, chief executive officer (CEO) of PriceSmart, Inc.

These additional properties will account for the Company’s 48 and 49 warehouse clubs, respectively.

spot_img
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

spot_img
spot_img
spot_img

Caribbean News

Eastern Cuba makes strides toward circular economy

By Caribbean News Global HOLGUÍN, Cuba, (ACN) - A number of enterprises in the province of Holguin are already applying the postulates of circular...

Global News

UN deputy chief calls for major arms spending cuts and urgent action to save SDGs

By Vibhu Mishra NEW YORK, USA, (UN News) - The UN Deputy Secretary-General on Monday urged global leaders to redirect resources from warfare to peace and...