US Market
PriceSmart has received approvals to build its third membership shopping outlet in Jamaica, amid growing local sales at double the Caribbean rate.
The membership shopping club received planning permission and an environmental permit in mid-February for the “construction and operation of commercial development” at Ironshore, Montego Bay. The approvals from were granted to its construction arm, PriceSmart Realty Jamaica Limited.
PriceSmart, an American company, currently operates at two locations in Kingston and Portmore, amid more than 50 stores in its international network.
In 2020, PriceSmart received approval from the National Environment & Planning Agency, NEPA, for the construction of a commercial complex in Montego Bay. The initial plan was to build in Catherine Hall, located on the other side of the city, but that was disrupted by the COVID-19 pandemic. That location would have placed the PriceSmart club close to competitors such as MegaMart shopping warehouse, Progressive Foods supermarket, and Fontana pharmacy.
PriceSmart currently operates a bakery in that same area, at Bogue City Centre.