A Strong Start for First Quarter Planning Approvals
CPA Chairman Al T. Thompson
A total of 224 planning approvals were issued in the first quarter of 2003, an 8% increase from the 208 that were granted in the same quarter last year. This boost also resulted in a 37% rise in value from CI$32,476,188 in 2002 to CI$44,632,603 in 2003.
Approvals for residential development, including houses and apartments, increased noticeably and represented a 27% increase in value from CI$23,656,369 to CI$30,865,820.
Commercial development approvals in-creased by 57% with the value rising by 14% from CI$5,299,500 to CI$6,021,300.
Due to three government-sponsored low-income housing projects, government related approvals and the associated value improved substantially while there was a decrease of 4% in the actual number of industrial approvals granted.
The first quarter breakdown for number
and value of approvals is as follows:
Houses- 76 with a value of CI$13,675,681; apartments- 22 with
a value of CI13,294,569; commercial buildings- 22 with a value
of CI$6,021,300; government- 5 with a value of CI$7,600,000; industrial-
2 with a value of CI$145,484, and other- 97 with a value of CI$3,895,570.