Deal done for 5,000 Caribbean homes

Trinidad

May 21, 2019 –  A year of negotiations has resulted in a formal agreement for a Chinese company to build 5,000 homes across Trinidad.

Trinidad & Tobago Housing Development Corporation (HDC) has picked China Gezhouba Group International Engineering (CGGC) for the project. The first phase of the collaboration with CGGC is expected to produce 204 two- and three-bedroom apartment units at South Quay in Port of Spain and 235 two- and three-bedroom apartment units at Lady Hailes Avenue in San Fernando.

CGGC will be responsible for the financing, design, procurement and construction of the housing blocks and the associated infrastructure for these developments.

his first phase of the project, which will span two years, is estimated to cost approximately US$71.7 (£56m).

The plan is to use local materials and labour for the project. HDC said that it is expected that the project will significantly reduce the deficit in the local housing industry and will regenerate the urban landscape in cities such as Port of Spain and San Fernando.

Housing and urban development minister Edmund Dillon indicated that no government can satisfy the huge demand for public housing. However, he added that what the government must do is ensure that alternative measures are put in place so that low- and middle-income families who require the state’s assistance can have an opportunity. He described the signing of the agreement as “a defining moment for the housing construction industry in Trinidad and Tobago”. He said that “the government, through agencies like the HDC, remains committed to providing affordable, well-designed housing accommodation and adequate infrastructure and amenities for the various low- and middle-income citizens.

Source:- https://www.theconstructionindex.co.uk/news/view/deal-done-for-5000-caribbean-homes

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