Since the boom years of the 1970s and early 80s, when the country was economically strong thanks to the high prices of its oil exports, Trinidad and Tobago has survived many economic hills and valleys, the most recent of which was brought on – at least in part – by the Global Financial Crisis of 2008.
Five years later, it seems that the local economy is steadying itself. One of the earliest signs of a vibrant economy is an active construction industry – and of late, there is a noticeable number of new buildings being erected in and around Port of Spain. Around the Queen’s Park Savannah alone, there are two major projects – RGM’s flagship green building, Savannah East, as well as a multi-storey construct along Queen’s Park West. In the St. Clair area, there are new commercial properties being developed on both Gray Street and Elizabeth Street.
RGM, being in the business of corporate property develop- ment, interprets this progression as an encouraging sign for the local construction industry and the wider national economy. It is proof positive that the sector is anything but dormant. Corporate space is clearly in demand, which suggests that businesses – and the working population of Trinidad and Tobago – are doing well and preparing themselves for the next upward economic trend.