Above: Kingston (CJ Photo)

By the Caribbean Journal staff

A Courtyard by Marriott hotel is set to break ground in Jamaica next week, according to Jamaican Tourism Minister Dr Wykeham McNeill.

The property, which is reportedly being developed by a group of local investors, will be located in Kingston.

McNeill revealed the news at the 2013 Sectoral Debate in Parliament this week.

The business-oriented hotel will come at a cost of around $17.5 million, McNeill said, or around $1.75 billion JMD.

Third-party estimates have put that number at slightly above $20 million.

Groundbreaking is scheduled for next week, he said.

Upon the property’s completion, it would provide around 430 jobs for local Jamaicans, he said.

The hotel, which had originally been set to break ground in the spring of 2012, is being developed by Jamaica Properties.

The IFC is contributing financing to the project.