Real Estate

The construction industry, along with other trade groups, has campaigned for years to reform procurement procedures, as a way of combatting corruption, ensuring greater transparency and achieving greater value for money. The long process of political discussions on the subject came to a conclusion in December 2014, when both houses of parliament passed the Public...

As of mid-2014, there were four class A office buildings under construction in Port of Spain, with a total of 250,000 sq feet of usable space, according to Terra Caribbean, a leading real estate agency. At the time, Terra Caribbean argued that this was a positive development, given a shortage of high-quality office space in the city. The shortage was the result of the...

The broadly defined real estate sector of Trinidad and Tobago is dominated by three aspects. First, land is scarce, and perhaps of equal importance is that the perception of scarcity is ever-present. Trinidad has an area of around 4800 sq km and most of the country’s population of 1.34m is concentrated on the western side of the island, from Chaguaramas to Point Fortin...

An important contributor to Trinidad and Tobago’s economy, the construction industry was estimated to account for 5.2% of GDP in 2014. There are 12 locally based companies with a turnover of TT$25m ($3.85m) or more, 200 firms with turnover in the TT$5m-25m ($771,00-3.85m) range and a larger number of smaller companies below that, many of them operating informally. The...