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A few facts about our company

COMMERCIAL

RESIDENTAL

DEVELOP

BROKERAGE

Diverze Properties Ltd. (DPL)

is an innovative vertically and horizontally integrated real estate company, that buys, develops, leases, and sells commercial and residential properties. As at the end of the last fiscal year our investment properties stood at approximately $3.57 billion. Additionally, one of its subsidiaries, Reside Realty Limited (RRL), has a 25-year real estate brokerage franchise with an additional 25-year renewal for a well known globally recognizable luxury real estate brand for the country of Jamaica. RRL launched its brokerage business in October 2021.

Our plan

The plan is to list DPL on the Jamaica stock exchange (the main market) in 2022 or 2023. Additionally, with DPL’s lightweight, low-cost business model i.e. 5 team members and outsourcing everything else to qualified companies and individuals who have expertise within their respective fields. For example project management usually goes to iBEC, structural engineer is David Goldson, accounting services to Baker Tilly, etc.. This model allows for greater profitability and the ability to scale up quickly by doing multiple projects at a time, with different contractors and separate project management teams engaged. All while using a low risk SPV ring fencing model for each development project.

DPL has three diverse revenue channels, making it more resilient to market surprises and/or shocks, which are as follows:

Lease & Rental:

The first and most predictable revenue stream is our rental/lease income, which is usually paid monthly, and it has 5 to 10 years right of use agreements attached to each property

Development:

The second and more lumpy income and cash flow item is our sale of the investment properties, which we improve the value and or subdivided into smaller lots, then sell them typically within 2 to 3 years.

Brokerage:

RRL will trade as Jamaica Sotheby’s International Realty and will earn fees and commissions through property sales and rentals.

Let's meet our professional team:

Board of Directors

Alexander Melville

Chairman & Managing Director

Alexander Melville’s real estate experience extends back some 27 years. Starting with his time working as an executive director for the homegrown successful brokerage company, Meldam Realty Ltd. Which is now one of the largest real estate brokerage companies on the island of Jamaica. The highlights during this time would be the digital transformation of its accounting systems. He also helped move the company from a single office in the town of Ocho Rios to opening its second office in the larger capital city of Kingston, which significantly helped with the growth of the company and its brand awareness. Generally other milestones included the restructuring of shareholders equity, bringing in material investment from our parent company, and helping to put the right people in the right seats, then inspiring and motivating them to achieve growth rates significantly above our industry average.
Alexander also sits on the Board of Eppley Limited, a finance and investment company publicly listed on the Jamaica Stock Exchange (JSE), and is on the Audit and Remuneration Committees of that company. He is also a board member at Chukka Group, Diverze Assets Inc., Diverze Properties, is the Managing Director of Tropical Battery (also listed on the JSE) and is Treasury Director of Chukka Caribbean Adventures Ltd (regional adventure tour company).

Marc Melville

Director

Marc Melville has over 27 years’ experience in the businesses of the group, starting with his tenure at Tropical Battery where he was committed to learning the business “from the ground up”. Marc rose to hold the position of General Manager and is currently the Chairman of Tropical Battery, where he is responsible for strategic planning. Marc is also the CEO of the Chukka Group, with operations in Jamaica, Belize, Barbados, Dominican Republic and the Turks and Caicos Islands. Marc has been a member of the Board of the Jamaica Tourist Board since 2013.

Daniel Melville Jr.,

Director

In 2014, Daniel took on the role of VP Sales & Marketing at Tropical Battery, where his skills allowed him to lead the sales team and execute successful customer service strategies. Since taking over this role, annual sales have grown by more than 15% on average. As a member of the Senior Management Team, he collaborates with all department heads to brainstorm, motivate and inspire our fellow employees, while overseeing business operations. Daniel is also a board member, and his mandate is to ensure that Tropical Battery is constantly moving towards fulfilment of its short-term and long-term goals, without diverging from its strategic plan. On June 1 2021, Daniel was promoted to the post of Deputy Managing Director, our new Director of Sales will commence on August 9, 2021. Before joining Tropical Battery, Daniel worked for over 14 years at the Chukka Group, both on the operating side and with the marketing team. Prior to joining Chukka, he worked with Carnival Cruise Lines, which helped him gain a unique understanding of visitors’ vacation preferences and needs.

Ricardo Hutchinson

Director

IRicardo has more than 10 years’ experience in the Caribbean banking sector providing corporate banking and capital markets solutions to clients across the Caribbean region. Prior to joining Portland Private Equity, Ricardo held the role of Associate Director- Investment Banking with a leading regional commercial bank where he was responsible for leading the structuring and successful placement of several capital markets transactions. He holds a Master of Science degree in economics from the University of the West Indies and is a CFA Charter holder.

Marc Ramsay

Independent Director

Marc Ramsay is an Attorney-at-Law called to the Bar in Barbados, Jamaica and Belize, and a Professionally Accredited Corporate Secretary and Professionally Accredited Director (GovStrat). As Partner in RamsaySmith, Attorneys-at-Law, his practice focuses on mergers and acquisitions, finance, and international trade, including advising Tropical Battery Company Limited and Diverze Assets Inc. Marc has served on several private and public sector boards, including Aeronautical Telecommunications Limited (AEROTEL), Jamaica Civil Aviation Authority, Teacher Services Commission and Key Insurance Company Limited. Passionate about service, Marc was Chairman of the Kingston and St. Andrew Parish Library Service Advocacy Committee, an Adjunct Lecturer at the University of the West Indies Faculty of Law, and currently serves as coach to the international law mooting team at the Norman Manley Law School.

Alexander Melville

Chairman & Managing Director

Marc Melville

Director

Daniel Melville Jr

Director

Ricardo Hutchinson

Non–Executive Director

Marc Ramsay

Independent Director

Do you have
any questions?

Protecting capital and managing risk is paramount in real estate development and our company philosophy.
Contact us to know more about how we work.

info@diverze.co

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