Private housing initiatives indicate confidence in economy...says PM Douglas

By VonDez Phipps
Reporter-SKNVibes.com

Prime Minister Dr. the Hon. Denzil Douglas

The EC$15M housing development project, situated at Douglas’ Estate in St. Peters, is said to be one of the greatest initiatives undertaken by the St. Kitts Cooperate Credit Union. It is a three-phase plan and, when completed, should have 190 new homes spreading over 29 acres of land.

PM Douglas noted that the venture is “good news” and is “indicative of the very strong interest and demand that continue to exist for home-ownership here in our country”.

“This Credit Union has understood the need and has responded appropriately. All around St. Kitts-Nevis one would find a variety of private sector housing initiatives taking place; that is indicative of the confidence that investors have in our own vibrant economy though there are the ongoing global challenges. I am also very pleased of these private sector housing ventures because they are all part of the process to empower our people through home ownership.

“As the public and private sectors improve the home-ownership environment in the Federation, we are in fact helping families meet other long-term obligations, particularly in relation to future tertiary education for children. We must be united therefore in the vision to elevate our nation; to help them to grow and develop in the interest of a brighter socio-economic future of this our proud nation,” he said. ~~Adz:Right~~

Dr. Douglas informed that the facilitation of access to housing helps the nation to fulfil its own obligation to the United Nations Charter on the Right to Adequate Housing. He added that it also fulfils one of the country’s own commitments toward achieving the Millennium Development Goals within the shortest possible time period.

The PM opined that all should view the merging housing ventures as a supportive enterprise in the post-sugar economic development thrust. He reminded the attendees that the closure of the sugar industry was made possible because of the carefully-planned exit strategy that would continue to “inform the process of the transformation of our economy, the enhancement of our people, and the full development of St. Kitts and Nevis”.

“The adaptation strategy,” he continued, “is a formalised plan aimed at achieving three main objectives: the empowerment of our people through education, training, home-ownership and entrepreneurship; the achievement of economic diversification, inclusive of a vibrant agricultural sector; and work toward long-term global competitiveness in areas that we could attain significant comparative advantage.”

Douglas stressed that this is the time to concentrate on quality life improvement measures like home-ownership to enhance the overall development of the Federation.

He also noted that it is important to pursue a broad approach to the concept of development encompassing various strategies that address issues such as poverty alleviation, better healthcare, youth development, environmental sustainability and improving levels of efficiency of the services within the public sector.