Young calls on real estate agents to help TT

Minister in the Ministry of the Attorney General and Legal Affairs, Stuart Young, issued the challenge while delivering the feature address at the second annual Real Estate Awards, hosted by TrinidadRealtor.

com at Queen’s Hall, St Anns last Thursday evening. “The challenge I’d like to throw out to you all for the next year, and to help TT and to help our economy, is to participate in PPPs because it’s a time like this that we need investment from the private sector to raise the buoyancy of the market and to increase the revenues.” Referring to the Housing Development Corporation’s Victoria Keys development in Diego Martin, Young reminded that Cabinet took a decision to put it on the open market “due to the massive, extra amounts of money spent on it.” One year ago, Prime Minister (PM) Dr Keith Rowley questioned whether the State could afford to give lower and middle- income persons multi-million dollar units that they could not afford. He cited Victoria Keys as an example of this, pointing out that a valuation of the housing development put the cheapest unit at TT $1.6 million,while top units were valued at $4.5 million.

Regarding PPP housing projects, Young told real estate stakeholders that Housing Minister Randall Mitchell “will address (this) in the coming months.”