The Real Estate Board of Jamaica has taken legal action against a registered developer in Jamaica for an alleged breach of essential duties. The development in question is the luxury multi-unit complex Palaiase De La Richle, located in St. Andrew. According to the project’s website, apartment prices start at US$275,000, penthouses at US$500,000, and townhouses at US$1.2 million. The complaint alleges that the company has violated its responsibilities related to the luxury complex. Controversy arose in recent years when a developer in Trelawny failed to register as a real estate developer, salesman, or dealer, despite the requirement for a license to operate in this profession. The Real Estate Board (REB) has identified a Clarendon-based company associated with various issues. Currently, the REB has raised concerns about another developer, DCL Castles & Cottages Development Ltd., alleging that the company has not complied with regulations regarding the management of trust accounts and the security of buyer deposits. DCL was incorporated in October 2014, according to records from the Companies Office of Jamaica, and applied for registration as a developer with the REB in 2019. Under Jamaican law, all developers undertaking six or more units must be registered and pay annual renewal fees. The allegations state that DCL withdrew funds from a trust account before securing buyers’ investments with a legal charge on property titles, which is required when developers accept upfront payments. According to Section 28 of the Real Estate (Dealers and Developers) Act, developers must submit all prepayment contracts to the REB within 14 days of signing. However, it has been reported that DCL has signed at least 14 such agreements but has “failed, neglected, and/or refused” to submit them. The REB asserts that these actions may prejudice buyers and undermine the integrity of the real estate system. It is recommended that buyers conduct due diligence checks and verify information before exchanging funds and to hire a professional. A hearing is scheduled for October 6, 2025.
Real Estate Board sues luxury developer in Jamaica
