Montego Freeport Limited (MFL) was incorporated as a public company in Jamaica in February 15, 1966 and applied to the Government of Jamaica for the right to reclaim submerged and semi submerged government land by dredging operation and to develop, construct upon, operate, lease or sell those lands through its comprehensive development program.

The prime objective of MFL was the reclamation and development of up to 500 acres of land in the Bogue area, now known as Montego Freeport.

MFL started trading on the Jamaica Stock Exchange on January 5, 1969. In October 1982, the Government of Jamaica acquired 61% of the shares in Montego Freeport Limited, from the Prudential Group Inc. The Government appointed UDC as its nominee to receive the transfer of shares. In 1986 additional shares were issued to the Urban Development Corporation (UDC). The UDC’s shareholding then increased to 82%. The company has in excess of 1600 shareholders.

Montego Freeport is now a booming industrial, residential and resort community. It is home to St. James’ Shipping Pier.