Construction Sector on the Verge of Boom


President of the Private Sector Organisation of Jamaica, Howard Mitchell, believes Jamaica’s construction sector is on the verge of taking off.

He was reacting to the increase in consumer confidence outlined in the Jamaica Chamber of Commerce’s First Quarter Business and Consumer Confidence Survey for 2018.

Speaking last evening on Nationwide @ 5, Mr. Mitchell sought to explain the perceived boom in construction within the Half Way Tree and New Kingston areas.

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However, the PSOJ boss is stressing the need for proper management of the sector, which he says could significantly affect the country’s growth in the future.

Mr. Mitchell also says lower rates for material could lead to a construction boom.

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In the meantime, President of the Micro, Small and Medium Sized Enterprises, MSME Alliance, Donovan Wignal was of a similar view.

Wignal said lower mortgage rates could be the reason for the increased investment in real estate in the Corporate Area.

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