Trinidad & Tobago Construction Sector Research Highlights

Overview

Trinidad and Tobago to tackle affordable housing deficit and expand commercial real estate
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Trinidad and Tobago’s housing market has fluctuated over recent decades in line with international oil prices and the overall health of the global economy. The sector grew rapidly between 1991 and 2006, with the most notable development occurring in the capital, Port of Spain, and the areas close to Point Lisas, the centre of the country’s petrochemicals industry. However, since the 2007/08 global…

Country Report

The Report: Trinidad & Tobago 2020
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The twin-island nation of Trinidad and Tobago is located in the southern end of the Caribbean, just off the coast of Venezuela. Its rich and varied heritage lends itself to a vibrant society and cuisine derived from an array of ethnicities and religions. On the back of elevated global oil prices, T&T has gone through a period of rapid economic expansion in recent decades, resulting in higher leve

Overview

Data-driven technologies to revolutionise construction sectors of emerging economies
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Around 55% of the world’s population – or 4.2bn people – lived in urban areas in 2018, up from 47% in 2000, according to the UN. Because of the rapid rate of urbanisation, this figure is expected to reach 68% by 2050, with growth concentrated in Latin America, the Middle East and North Africa (MENA), sub-Saharan Africa and Asia. The shift towards the cities put the onus on the construction sector…

Overview

Construction in Trinidad and Tobago to recover on the back of large-scale infrastructure projects
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Following a period of subdued activity, a steady flow of projects in 2019 have seen Trinidad and Tobago’s construction industry experience healthier growth in recent years. However, obtaining private sector funding remains a challenge, due to a decline in banks’ lending activity. Nevertheless, in November 2019 Glenn Mahabirsingh, president of the T&T Contractors Association, told local media…

Chapter

The Report: Trinidad & Tobago 2020: Construction & Real Estate
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Following a period of subdued activity, a steady flow of projects in 2019 has seen Trinidad and Tobago’s construction industry return to healthier growth. Construction activity still remains confined to a small number of projects, which are largely driven by public sector spending. Nevertheless, major developments such as the TAB airport extension, road network upgrades and housing construction…

Interview

Jean-Paul de Meillac, CEO, Terra Caribbean: Interview
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Interview:Jean-Paul de Meillac How has the nature of property sales evolved as Trinidad and Tobago returns to growth? JEAN-PAUL DE MEILLAC: Trinbagonians have done exceptionally well over the years thanks to the strong oil and gas sector, which has injected a vast amount of liquidity into the financial system. As a result, stakeholders have been able to keep properties in their investment portfolios.…

Analysis

Trinidad and Tobago look to public-private partnerships to address infrastructure deficit
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While public-private partnerships (PPPs) have been used to finance projects in Trinidad and Tobago since the 1990s, the model formally gained institutional backing in 2011 with the creation of a specific policy unit, known as the PPP Unit, which operates within the Investments Division of the Ministry of Finance. Despite this, unlike other Caribbean countries such as Jamaica, T&T’s PPP framework…

Analysis

Reforms support enforcement of Trinidad and Tobago property taxes
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Upon assuming office in 2015, the administration of Prime Minister Keith Rowley announced its intention to reintroduce legislation to put into effect the collection of property tax in Trinidad and Tobago. This would build upon steps taken by the previous administration to reformulate the mechanism utilised to calculate and collect property taxes in the country. In preparation for doing so,…

Overview

Builders respond to rapid global urbanisation with more efficient spaces
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In 2008, for the first time in history, more than half of humanity was living in urban areas. Perhaps the most remarkable observation about this trend is the speed at which it has happened: as recently as 1900 urban areas accounted for 13% of the global population. Towns and cities are seen as the crucibles of opportunity for many rural dwellers. The UN estimates that by 2030 urban areas will…

Overview

Infrastructure development to diversify Trinidad and Tobago's construction sector
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Although the sector has a long and successful history in Trinidad and Tobago, construction remains heavily dependent on government spending. Partly due to a number of large-scale projects reaching or nearing completion, the sector’s economic performance has contracted in recent years, with negative growth of 1.6% in 2015, 5.2% in 2016 and 4.8% in 2017. However, in its “2017 Review of the…

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Trinidad & Tobago Construction Sector Research Highlights

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