Scotiabank Finances New State-Of-The-Art Hyundai Headquarters In Kingston

Managing Director of Magna Motors, Erick Gutiérrez ( centre) gestures to Morris Nelson ( right) , VP Commercial Banking  of Scotiabank and Rivi Gardner ( left) construction manager during the tour of the new Hydundai headquarters 

Kingston, Jamaica – February 11, 2021 – Scotiabank has provided loan financing for the construction of yet another major corporate headquarters in Kingston.

By the end of March, Magna Motors Ltd, the exclusive distributors of Hyundai vehicles in Jamaica and other parts of the Caribbean will open its world-class, state of the art dealership and showroom on Oxford Road.

The new state-of the-art facility will enable the company to consolidate its operations into one location, with increased capacity to serve its customers “This will be the biggest automobile showroom in Jamaica, and we will also be able to service up to 100 cars per day. We are making a big statement and we are showing our commitment to Jamaica in terms of investments, modern conveniences and of course employment,” shared Managing Director of Magna Motors, Erick Gutiérrez.

He also shared that company’s total investment in the new auto complex is approximately US$13 million.

“Our customers have spoken. Hyundai is now a major challenger brand in Jamaica and we are aiming to get to number one. As we continue to grow, we want to be able to service our customers in the best facility and the new space will allow us to bring additional areas of service to the island,” Gutiérrez said.

Gutiérrez further noted the company’s intention to expand the classes and range of vehicle models that it provides.

According to Scotiabank, “This is another example of our commitment to supporting our customers as they seek to grow their businesses and our commitment to growth and development in Jamaica,” shared Morris Nelson, Vice President, Commercial Banking.

“We congratulate Magna Motors, with which we have had a stellar relationship since they entered Jamaica in 2015, and we are also very excited about the modern amenities and developments that their investment will bring to the automotive and servicing industry,” Nelson added.

A member of the Magna Group based in the Dominican Republic, Magna Motors is a well-known distributer of luxury SUVs and modern-premium sedans across parts of the Caribbean.