THE CONSTRUCTION SECTOR GETS A BOOST!!!

January 25, 2017

HARRIS AT LARGE!

THE CONSTRUCTION SECTOR GETS A BOOST!!!

Mr. Rayneau Gajadhar, Managing Director of Construction and Industrial Equipment (CIE) unveiled a Stimulus Package for the construction industry on Sunday, February 8, 2009. In reality he challenged the business community to be creative and come up with packages that will keep businesses open and employees employed. He invited Banks and other businesses to participate in the programme which lasted several months.

The SLP Government subsequently followed up with their own Stimulus Construction Package. In the 2012/2013 Budget presentation with the theme “Building Opportunities for Our Common Future” then Prime Minister Honourable Dr. Kenny D. Anthony announced an 18 month construction stimulus package in an effort to jump start the economy which was very sluggish at the time. The stimulus package was launched in May, 2012 and was extended in response to calls from the business community and banks. The programme finally concluded on February 28, 2014.

Several concessions were granted, including lower Mortgage Rates, 5% for the first five years – the banks were very supportive. Government granted waiver of the 15% VAT and other customs levies on a list of construction items which included Sand, Cement, Lumber, Plywood, Steel Rods, Nails, Fencing, Roofing Sheets, Paints and other building materials. That was then.

Today, the construction sector is currently benefitting from competition among Suppliers of Hydraulic Cement for construction within the region and extra regionally as they are involved in a fierce battle for market share, giving developers and home owners a real opportunity to make substantial saving in the purchase of the product. A Supplier out of Turkey supported by a regional representative out of Barbados is currently introducing ROCKHARD Cement to the region at prices which made the regional Suppliers stand up and take note. The new product was introduced at a retail price of EC$23.50 when a few Retailers were selling at EC$27.95 with the lowest available price in limited supply at EC$25.00 per sack.  Cement is currently being sold at a wholesale price of EC$19.04 ex-ship and EC$22.67 at retail. There is substantial savings to be made if one is seeking to construct domestic or commercial buildings using concrete. Within a few weeks, prices for concrete blocks and ready mix will decline as block makers and suppliers of ready mix concrete lock horns. The natural thing to expect is that Retailers of building materials will join in and offer substantial DISCOUNTS.

I told you in a previous article that this is the time to buy property in Saint Lucia. I also predicted that the price of land in the South of the island will increase by 100% in five years.

Hon. Dr. Kenny D. Anthony current Parliamentary Representative for Vieux Fort South and former Prime Minister stated that he wanted to designate Vieux Fort Town – University City where special incentives will be given to medical schools to locate in the South. It is very obvious that the Medical Schools in the South are expanding. A new development is taking place in the South of the island. Guest houses and large dwelling houses are being leased by Medical Schools to house students. There is urgent need for housing in the South and up to 25 room Guest Houses and Restaurants.

I can’t help keeping Desert Star Holdings Limited in the news. It is the only big thing being talked about in the Caribbean. The long awaited sensitization meeting will take place in Vieux Fort on the 8th of February, 2017 when Invest St. Lucia and Government Officials will brief members of the communities in the South on the 2.6 billion US dollar DSH project. The Chamber is coordinating the event.

So many things are happening at the level of government that I must encourage you to seek information on the operations of the Development Control Authority, my recommended website of the week
http://physicaldevelopment.govt.lc

Remember always to Keep the Faith, knowing that God is in Charge – Dream Big and Expect Miracles!

Edward Harris

Biblicist, Author/Publisher, Business Consultant, Real Estate Agent/Broker, Networker, CSR/Small Business Advocate & Motivational Speaker Email: jobfreelife72@yahoo.comWebsite: www.stluciasimplybeautiful.com Facebook Page:www.facebook.com/edharrisbiz

 

Leave a Reply