$500 million mall project in South
May 09, 2013:
The sod was turn for the construction of a multi-million mall project in Corinth, south Trinidad by Minister of Planning and Sustainable Development, Dr. Bhoendradatt Tewarie yesterday.
Speaking at the sod turning ceremony to launch the $500 million project, Tewarie described the project as one of the largest private commercial development projects in the country.
The project will be undertaken by JT Allum and Company Limited.
Tewarie described the project as a unique one which will see the construction of a world class facility on 20 acres of land. He noted that the company already had other shopping centres at Cross Crossing, Carlton Centre and Marabella.
"The Group is clearly committed to the future economic growth of our country and is confident about Trinidad and Tobago's future," Tewarie said.
The Minister noted the project will generate significant employment during construction but more importantly will create significant sustainable employment over the long term. It will also provide a much needed destination for families and individuals to come and shop as well as to be fully entertained by a wide cross section of entertainment.
The project, dubbed the C3 Centre by the real estate company, will be completed by 2015 and plans to house a branch of Movietowne which will have an eight screen cineplex. The Centre will also include the US-based Chuck E Cheese, Galatica as well as about 600,000 feet of shopping space spread over the 20 acre space.
The Minister took the opportunity to list projects that have been approved and will soon come on stream. He noted that this was exclusive of government projects and projects currently under construction. These included the Captial Plaza Hotel multi-level car park and ten storey hotel structure; 75 Anna Street a three storied commercial building at Elizabeth, Rosehill Primary School multi-level primary school; 27 Queen's Park West - a multi-level office building with basement parking, a major mall in Central that will begin construction in a month or two and at 5 Gray Street multi-level office building, among others.
He also listed projects in South Trinidad; a mall at South Park Development that had recently started construction, completion of the Toyota, the ongoing construction of the Highway to Point Fortin and the completion of the PriceSmart Complex at La Romaine.
Minister Tewarie noted that there has been modest economic growth but compared that to the negative growth over previous years and reminded his audience that the Central Bank was predicting a 2.5 percent growth in the economy.
He added that the unemployment rate was at five percent with 100,000 construction workers in the labour force, noting that the unemployment rate in the construction was at 11.8 percent