UDC CHAIRMAN LOOKS AT CONSTRUCTION INDUSTRY TO AID ECONOMIC DEVELOPMENT
With the onset of major development works being undertaken across the island by the Urban Development Corporation (UDC) and other Government and non-government entities, Chairman, Senator Ransford Braham is reporting that the critical role of the construction industry to Jamaica’s economic development is now at the forefront.
Identifying the Corporation as a significant contributor to the construction industry through its current multibillion project portfolio management, Senator Braham noted that the upcoming and ongoing UDC projects inclusive of the J$1.29B Closed Harbour Beach Park Development, J$3.968 Billion Ministry of Foreign Affairs and Foreign Trade Building and Government Oval Project among others, are anticipated to play a major role in his projected increase in the growth of the construction industry in the upcoming review period. Senator Braham was speaking recently at the Incorporated Master Builders Association’s (IMAJ) Awards Banquet.
He further noted that the current state of the Jamaican economy which recorded a 3% increase in growth in the construction industry due to activities associated with the expansion of road networks and the building or renovation of new and existing hotels is now positioning the economy for increased GDP through contribution from construction.
In order to meet these projected increases however, according to Braham, the industry requires partnerships at all levels; he further noted that the Corporations as an agency of development leans heavily on the support and continued good relations with the members of the industry, as it is by this means that all entities involve can effect the changes necessary for attaining Jamaica’s development priorities.
For further information, please contact:
The Corporate Relations and Marketing Department
Urban Development Corporation
12 Ocean Boulevard
Tel :( 876) 656-8031
March 19, 2019