Tuesday, 23 July 2019 03:13 GMT

New housing programme to unveil, says Dominica PM

(MENAFN - Caribbean News Now) Housing Dominica: A Comprehensive Housing Programme

By Caribbean News Now contributor

ROSEAU, Dominica – Prime Minister Roosevelt Skerrit has indicated that very soon he will unveil a comprehensive housing programme aimed at providing adequate housing for everyone in Dominica. This in addition to the government having kept its promise to provide new housing funded entirely by Citizenship by Investment (CBI) and housing developments, led by Montreal Management Consultants Est. (MMCE).

'I will be unveiling very soon to the young professionals who are back in Dominica and who need a home, very soon I will unveil a comprehensive housing programme on the lands situated at Warner owned by the Dominica Social Security [DSS] where we will build a massive housing complex to provide adequate housing for the young professionals in Dominica,' Skerrit said.

This is in keeping with 'Dominica's housing revolution is good public policy,' he said, and that the government ofDominica and MMCEhave since developed a coherent national policy framework, making optimum use of resources for building climate resilience infrastructure and financial resilience.

The Cyprus government has unveiled a plan that parallels Housing Dominica to create affordable housing using funds from Cyprus' citizenship by investment programme.

In Central American countries, there is investments of more than $4 billion in residential construction.

    Costa Rica is the country in the region that last year concentrated the largest investment, with approximately $1.180 million in projects of apartment buildings;
    In Panama, an approximate investment of $1.164 million is ongoing;
    In El Salvador, 47 studies were presented for work on different types of residential projects that add up to a global investment of approximately $566 million. The most important development consists of the construction of a complex composed of 5.500 houses;
    In Guatemala, 73 projects total an estimated investment of $379 million;
    In Nicaragua, an approximate investment of $66 million, and in Honduras, construction of condominiums, for which close to $56 million is expected.

St Kitts and Nevis will be hosting the Caribbean Investment Summit 2019, bringing together CBI industry professionals and experts from June 19-21 with the aim of better facilitating knowledge transfer regarding industry best practices, critical trends, and business insights.

A comprehensive, sustainable and inclusive approach to housing for everyone is a sectoral plan that impacts economic development and growth. A multilateral partner in the structuring and financing of public housing programs is the optimal use of CBI funds and/or ordinary capital.

The Inter-American Development Bank recognized that fact and has approved a $200 million conditional credit line designed to ease a housing shortage in Ecuador.

The first disbursement is designed to reduce a quantitative housing shortage among urban and rural households at the two lowest income quintiles of the population. It will give priority to families in which women are the main bread earners and those with people who are disabled, optimizing the management capability of the ministry of urban development and housing.

Housing Dominica is well advanced to makeDominica the first climate resilient nationand to guarantee that everyone has a decent place in which to live, work and play.

'If this train goes off the course now,' Skerrit said, 'It will go out off course for a long, long time, therefore, we cannot afford this to happen.'

'Dominica has one chance at success, we are in a build-back mode. We cannot slow the pace of development in this country. We cannot make a mistake this year or next year and hope to correct it in five years' time,' he said.


New housing programme to unveil, says Dominica PM

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