PriceSmart Inc has announced that it will now activate its plan for Portmore, St Catherine to become the location of its 49th story by spring in 2022.
The company disclosed Thursday that it is now ready to proceed with the construction of its two latest warehouse projects which are its 48th warehouse club in Guatemala City, Guatemala – expected to open in the fall 2021 – and its 49th warehouse club in Portmore. The cost of the projects was not disclosed.
“Despite the roller coaster we rode with most of the world in this last year, we are ready to proceed with the construction of two new clubs, one each in Guatemala and Jamaica. We expect to open these clubs in the next fiscal year,” Sherry S Bahrambeygui, CEO of PriceSmart.
In September 2019, the company, which operates a single store on Red Hills Road in St Andrew, acquired approximately 218,000 square feet of land in Portmore to build its second club in Jamaica. However, construction plans were delayed earlier this year due to the COVID-19 pandemic.
“We… believe there is strong demand for expansion of our business model and warehouse clubs in Jamaica,” Bahrambeygui said.