Real Estate from a Developer’s Perspective
November 8th, 2022 | Related To: Caribbean Housing Ltd.
Caribbean Housing Ltd (CHL) has been at the forefront of building communities since 1968. Led by Dr Krishna Bahadoorsingh, the company is one of the more prominent private developers locally. It is known for its work in developing Westmoorings and West Mall alongside its most recent project in Brentwood.
Affordable housing stock in T&T remains an area of investment interest and public need. According to Dr Bahadoorsingh, the country requires at least 150-200,000 affordable homes – of which CHL is building 100 per year. “We are talking about homes in TT$1M-1.3M bracket, that would be ideal for home owners no matter the current economic conditions.” Though much has been said about our current economic indicators and predictions, he believes this need still exists.
“We have grown accustomed to being in a boom cycle – just like we are a party country. But we can’t party all year round – we have to get used to ‘normal times’ too,” he advised. The current state, he notes, is what may really be the new normal.
One of the significant challenges that the company continues to face is the approval process for building homes. “As a developer, there is no single mechanism or process for getting these approvals, so it takes more time than it should,” the TT Chamber of Commerce 2021 Hall of Fame inductee notes.
Dr Bahadoorsingh has spent most of his life as a businessman, entrepreneur and real estate pioneer. He was also a lecturer at the Institute of International Relations at the University of the West Indies and an Independent Senator on two occasions. Through these experiences, he also acknowledges that economic turns are cyclical.
“We have seen the patterns over many years in terms of demand for housing and commercial spaces too, and we believe that as the country settles into ‘normal times’ that it will find its footing as it needs to,” he adds. He absolutely believes there is something special about Trinidad and Tobago, noting that perhaps God may indeed be a Trini. “I have 100% faith in this country and though I believed as my good friend Errol Mahabir also did, that we should have by now become the Singapore of the West, this was not to be. However, we remain committed to T&T.”
Currently, the company is fully engaged in the continued development of a new community at Brentwood, located on the old Edinburgh sugar estate in Chaguanas. The name Brentwood was drawn from Dr Bahadoorsingh’s school of the same name in his studies abroad. The development hosts a mixture of commercial and residential spaces. It includes one of the Caribbean’s largest gas/petroleum stations, the latest Massy Supermarket and the new Brentwood Mall. The development of homes will continue along with plans for a possible medical centre and other amenities to create a fully sustainable community in the coming years.
Caribbean Housing Limited (CHL) has been Trinidad and Tobago’s most trusted real estate developer for more than 50 years. Starting with single-family homes in east and central, then expanding to northwest Trinidad where we broadened our portfolio to include retail and commercial-based developments. CHL remains an industry pioneer.