HDC construction in S'do, PoS, to cost $1.15m per unit

MINISTER of Housing and Urban Development Edmund Dillon says the construction of new HDC units in San Fernando and Port of Spain will cost $1.15 million each.

He made the statement in the Senate on Monday afternoon.

In May, the HDC signed an agreement with the China Gezhouba Group International Engineering Co Ltd (CGGC) to construct 5,000 housing units throughout TT, with 235 units at Lady Hailes Avenue in San Fernando, and 204 at South Quay in Port of Spain in phase one. This includes both two and three-bedroom apartments. Phase one was estimated to cost US$72 million.

The minister says the project is expected to take two years and construction will begin immediately after all approvals are secured.

The outstanding approvals include those from
T&TEC, WASA.

He
said construction is expected to begin this year, but the subsidised prices for both sales and rental are yet to be established.

He added that distribution will begin immediately after the project is completed.