Prime Minister, the Most Hon. Andrew Holness, says the construction industry, which was among sectors “hard hit” by the coronavirus (COVID-19) pandemic, is returning to productive capacity and is imploring investors to begin to execute projects that they may have put on hold due to the virus.
“The private sector – you have projects you may be considering shelving; now is not the time for it. Recessions are self-fulfilling prophecies; they happen if you decide that you are not going to invest; they won’t happen if you decide to invest, so let us not allow the recession to happen,” he noted.
“Make the decision to invest. Now is the time to invest for us to swiftly recover and recover stronger than we were before,” he added.
Mr. Holness, who was addressing the ceremony for the delivery of the first 50 homes at the SilverSun Estates in St. Catherine on Wednesday (July 1), noted that construction was the first sector reopened as the Government resumed economic activities.
“That was the first industry we remobilised and, so far, I am seeing that people are returning to full productive capacity. There is a return to construction work. We are seeing a slight uptick in demand for hardware supplies, and we are watching what will happen with demand for cement,” he said.
The SilverSun housing development comprises construction of 1,200 units in Innswood by SilverSun Homes Limited, a West Indies Home Contractors Limited (WIHCON) majority-owned company.
The National Housing Trust (NHT) is providing 100 per cent financing for the project. Construction commenced in April 2019 and the project is being undertaken in phases with completion scheduled for April 2023.