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Govt seeks private sector support: PPP projects for housing
Minister in the Office of the Prime Minister Stuart Young is urging developers and financiers of projects to join with Government in public-private partnerships (PPP) to keep the local economy buoyant. He said there should be more focus on real estate and the time is right to reignite the excitement in the housing and the office space markets.
In remarks at Thursday’s Annual Trinidad Realtors Awards at Queen’s Hall in St Ann’s, Young said private sector investments are crucial to stimulate the market, while generating revenues.
“As a government we have coming on stream in the next few months the sale of the apartments at Victoria Keys and as a Cabinet we took a decision, due to the massive extra amounts of money spent on it, to put it out on the open market.
“It’s not going to be low income housing and when that hits the market you all will have the opportunity to be selling these apartments, penthouses,” he said.
“From what I have seen they are really of a top class level. What we are introducing over the next year, as was mentioned in the budget and the Minister of Housing will announce it in the coming months, are PPP projects. How can you partner with the Government? What is it that we have that in addition to the land bank?“he asked.
Young said he was aware that in recent months there had been difficulties getting permission from Town and Country Planning and other authorities to get projects off the ground.
“As a government we give a commitment to work along with you, to try and shorten and contract those time frames. But really the plea is let’s be creative now.
“Let’s do what we can to start back that housing economy. This no longer will be driven by the hundreds of millions, if not billions of dollars by the government. We need to take the limited funds that are available now to key other areas afloat,” he said.
The minister said Prime Minister Dr Keith Rowley and his administration have conceptualised several initiatives in oil and gas and tourism to spur economic relief.
Pointing to the Sandals Resort Development in Tobago, Young said although there are nay-sayers, the project is “a great venture, which should lift the Tobago market.”
Among the big winners at the awards function was Tucker Real Estate, the Agency of the Year Large, while veteran realtor Sharon Inglefield was presented with the Lifetime Achievement Award.
The T&T Guardian was named Best Print Company for real estate information, while JD Sellier was Law Firm of the Year and Sagicor Insurer of the Year.
TRINIDAD REALTOR AWARDS
Most Residential Sale Properties
Most Residential Rental Properties
Most Commercial Sale Properties
Most Commercial Rental Properties
Most Properties on Mapping Guide
Most Views on Trinidad
Tucker Real Estate
Most Photos on Trinidad
Tucker Real Estate
Most Land for Sale Properties
TT Property Search
Most Videos viewed Trinidad
Stuart Spiers Real Estate Services
Best Print Media Company
Trinidad Guardian Newspapers
Valuer of the Year
GA Farrell & Associates
Law Firm of the Year
JD Sellier & Co
Architect of the Year
Fullerton Diaz Architects
Interior Designer of the Year
Brian Mac Farlane: MacFarlane’s Design Studios
Up & Coming Contractor of the Year
Building Beauty Construction
Bank Branch of the Year
Republic Bank Port-of-Spain
Mortgage Agent of the Year
Carlene Joseph-Seerattan: RBC Royal Bank
Insurance Firm of the Year
Most Professionally Attired Male Agent
Colin Skerritt: Ck Skerritt Real Estate Svs Ltd.
Most Professionally Attired Female Agent
Marjorie Lousaing: Trinidad Properties Management Company
Most Professional and Punctual Agent
Steve Plimmer: Plimmer Real Estate
Male Agent of the Year Small Company
Edward Goolsair: Sair Real Estate
Male Agent of the Year Large Company
Ian Parkinson: Massy Realty
Female Agent of the Year Small Company
Debra Teelucksingh: DT Real Estate Services
Female Agent of the Year Medium Company
Alex Boon: Guillen Realty
Female Agent of the Year Large Company
Tracy Sheppard: Stuart Spiers Real Estate Services
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