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 that the flow of projects in the industry was “reasonable”, largely as a result of public spending…
Construction & Real Estate
From The Report: Trinidad & Tobago 2020
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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 initiatives should help the sector to recover, particularly with a slightly higher state budget in 2020. There are signs of recovery in the real estate market, particularly as the need for long-term, affordable housing continues to drive the lower end of the property market. In order for the residential segment to see healthy growth in the years ahead, both the public and private sector will need to ensure that this demand is adequately met. This chapter contains interviews with Jean-Paul de Meillac, CEO, Terra Caribbean; and Emile Elias, Chairman, NH.