Business View Caribbean | May 2019

11 BUSINESS VIEW CARIBBEAN MAY 2019 SHARP INCREASE IN TOURISM FACILITATES HOUSING PROJECT IN JAMAICA A sharp increase in tourism in Jamaica is facilitating a boost in affordable homes. Workers in the tourism industry will be the primary beneficiaries of the Rhyne Park Housing Development through which 754 affordable units will be provided. The housing project will alleviate the challenges of informal settlement appearing on the north coast. This gesture would serve to resolve the widespread problem, in addition to providing quality housing for the people who play a pivotal role in preserving the island’s number one industry, tourism. This project will be undertaken through a joint venture agreement between the Housing Agency of Jamaica (HAJ) and the China-based Henan Fifth Construction Group. Both parties signed the agreement for the undertaking during a ceremony at Jamaica House on Wednesday, April 24. Prime Minister, Andrew Holness, who participated in the signing, said he was pleased to see a venture previously regarded as unfeasible come to fruition. He explained that property for the construction was acquired in 2009 by the Tourism Enhancement Fund (TEF) with the intention of providing housing for workers in the tourism industry. However, the project did not get off the ground as expected. Following an assessment, local contractors were unable to construct the houses for below $20 million, which would have been an expensive undertaking for the government. Holness said the Henan Fifth Group provided the government with a solution, “to how we can utilize this land that we have tied up government resources in,” noting that the country can now learn from this experience. OPENING L INES