Chris Williams teams up with Matalon in Different Properties

Retired investment banker Christopher Williams has joined forces with Gary Matalon and others to form a new real estate development firm that’s taking aim at the short- term rental market, with a pipeline of projects that may extend beyond Jamaica and into the Caribbean region.

One of the early residential projects to be tackled by Different Properties Jamaica Limited is earmarked for property in Kingston.

“That property will span 70 units,” said Gary Matalon, shareholder and CEO of Different Properties, in an interview with the Financial Gleaner. “The total project cost for the initial development comes in at around US$12.5 million,” he said. The investment is just shy of $2 billion in Jamaican currency.

Matalon said the Kingston project would be financed by cash from the shareholders in Different Properties as well as loans.

“Within the next two months, I will be able to publicly present a full package, explain all the details, and engage with potential investors,” he added.