David Cummings, Vice-President and head of Sygnus Real Estate Finance, has sought to assure its shareholders that they should not be overly concerned about the $398 million the company lost during the six-month period, which ended on February 28 of this year.

 

It has based this advice on the fact that its investments in real estate are medium and long-term investments, which do not start to generate income until they are completed and leased or rented. 

 

Cummings, speaking Monday in an interview on Radio Jamaica’s Real Business, stressed that the company is currently in its second investment cycle which includes a number of key projects which will generate significant investment and lease income as well as profits.

 

These include the Lakespen project, which is currently underway, and the Delphin Holdings residential development in Trelawny.