Construction & Real Estate

An important contributor to T&T’s economy, the construction industry accounted for an estimated 5.2% of GDP in 2014 and 15.6% of the labour force, according to T&T’s Central Statistical Office. 2014 was a particularly good year for the sector, which grew by 7.1%, outperforming the wider economy for a second consecutive year. In 2015, the energy-related construction sector is expected to feel the effects of the downturn in oil and gas prices, though public sector building and demand for infrastructure works are likely to remain strong. Meanwhile, in the real estate sector, the political uncertainty arising from the forthcoming election is likely to put a damper on the volume of transactions and have a slight effect on prices, while the supply of affordable housing for low- and middle-income families is expected to remain below pent-up demand through 2015 and 2016. This chapter contains an interview with Roodal Moonilal, Minister of Housing and Urban Development.