Blue Mahoe Capital Caribbean Inc, a Florida-based real estate developer, launched a crowdfunding campaign this month to raise US$5 million for affordable housing projects in Jamaica, marking a step in its bid to become a publicly traded company.
The company’s core goal is to “generate a reasonable return on invested capital through the development and sale of housing and the acquisition of income-producing real estate”.
“We intend to raise capital to fund the development and construction of affordable houses in Jamaica, with additional opportunities to be explored across the Caribbean,” David Mullings, chairman and CEO of Blue Mahoe Capital, said in the filing.
The company has identified seven locations where it says it has completed “land control”: Retreat in Negril, Westmoreland; Penn Village in St Catherine; Montpelier Estates in St James; Ironshore in St James; Bernard Lodge in St Catherine; White House in Westmoreland; and Discovery Bay in St Ann.
The company is offering 500,000 shares of common stock at US$10 per share through the SEC-registered funding portal Silicon Prairie Capital Partners, with a minimum investment of US$100.
“Jamaica has a significant housing deficit, and affordability remains a major challenge,” according to the executive summary in the Form C filing, dated June 11.
The company has signed memoranda of understanding with developers and has a waiting list of 287 individuals for an initial phase of 200 one-bedroom homes. According to the offering documents, these homes are expected to sell for approximately US$51,000 (J$8 million), with construction costs estimated at US$25,000 per unit using a prefabricated approach. A second phase involves two-bedroom homes in Negril, projected to cost US$75,000 to build and sell to the National Housing Trust for US$103,000.
Blue Mahoe Capital Caribbean’s financials reveal it is in a pre-revenue stage two years after starting. The company has generated no operating income and reported a net loss of roughly US$22,560 to March 2026. It had US$23,115 in cash as of March 2026, and has been supported by related-party loans and investments from entities controlled by Mullings.
Following this crowdfunding round, the company intends to return to the market to raise additional funds.
“The company intends to file a ‘Regulation A’ offering with the US Securities and Exchange Commission in the third quarter of 2026, which management expects will raise sufficient capital to fund the company’s real estate business plan,” the company stated.
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