A Trinidad and To­ba­go-owned com­pa­ny has se­cured a con­tract val­ued at $1.52 bil­lion for the con­struc­tion of 2,400 hous­es over four years in St. Kitts-Nevis.

The con­tract, which was signed last month in St Kitts, equates to a cost per house of about $633,000

East Coast Hous­ing De­vel­op­ment Lim­it­ed, which is based in San Fer­nan­do, has been award­ed the con­tract by the SKN Gov­ern­ment of Prime Min­is­ter Dr Ter­rance Drew.

The is­land-wide af­ford­able hous­ing project is to be de­liv­ered in four phas­es of 600 units each, with con­struc­tion to be­gin in June 2023, a news re­lease this week in­di­cat­ed.

The con­tract is for the sum of US$227 mil­lion.

Fund­ing is be­ing pro­vid­ed by a ma­jor Trinidad and To­ba­go fi­nan­cial in­sti­tu­tion.

Each house will in­clude a re­frig­er­a­tor, a four-burn­er gas stove, a rooftop wa­ter heater, and a wa­ter tank.

East Coast is part­ner­ing with Chi­na-based Crete­form Lim­it­ed, for the use of mod­ern tech­nol­o­gy and civ­il en­gi­neer­ing works on the project.

The St Kitts & Nevis Min­istry of Hous­ing and Hu­man Set­tle­ment is the ex­e­cut­ing agency for the project.

Dr Drew, who was elect­ed in Au­gust 2022, promised to make the de­liv­ery of low-cost hous­ing a pri­or­i­ty of his ad­min­is­tra­tion.

East Coast’s CEO Bryan Singh, a civ­il en­gi­neer, said he is ex­treme­ly hap­py to serve the peo­ple of St. Kitts-Nevis and promised to have the hous­es de­liv­ered on time and with­in bud­get.

The over­whelm­ing ma­jor­i­ty of work­ers would be em­ployed from St Kitts & Nevis, Singh said.

He said his par­ent com­pa­ny, Bryco Re­new­able En­er­gy Group, has had a long pro­fes­sion­al as­so­ci­a­tion with the ter­ri­to­ries of the Or­gan­i­sa­tion of East­ern Caribbean States (OECS).

The com­pa­ny has been in­volved in the de­vel­op­ment of in­fra­struc­ture.

He in­di­cat­ed that East Coast was cur­rent­ly en­gaged in dis­cus­sions with re­spect to pos­si­ble so­lar en­er­gy and wind tur­bine projects.