SHAPING CONSTRUCTION AND INFRASTRUCTURE
where growing market demand require suppliers
The integration to global market requires prioritizing industrial infrastructure development projects, giving a primary focus to upgrade existing facilities and the construction of new industrial plants through specific turnkey contacts, including restructuring and the modernization of road system and transportation services.
Hotel and Retail
Foreign investment policies and the approach by several hotel chains looking
to enter the market have opened the door for construction, operation, and commercialization of high-end hotels, the refurbishment of housing or apartment projects dedicated to tourism, as well as social Infrastructure.
Growth in other industry segments is presenting parallel opportunities for significant renovation of the city cores, construction of commercial buildings and the expansion of existing once; along with airports and seaports improvement. All of these create the need for planned projects to be developed with foreign capital.
Under-financing shapes Cuba's infrastructure development. Decades of under-investment have resulted in massive Infrastructure needs across the country. Considerable efforts and resources are required to reform obsolete infrastructures, damaged homes, and to enhance building products manufacturing. Availability of restoration resources has not been sufficient to support such developments, considering that accumulated necessities of the housing along with the lack of financial resources are greater than the country´s real possibilities. The infrastructure, building and construction sector in Cuba offers a wide range of opportunities, starting with companies selling materials, tools, construction equipment and building technology up to engineering services.
DEMAND ACROSS FOUR KEY SEGMENTS
Infrastructure's foreign investment development is recognized as a key to sustaining economic growth and mitigating the industry’s new challenges. The new law provides an attractive and more favorable framework to improve access to foreign partners and financing, having the alternative for foreign companies to provide debt capital on construction projects and benefit from interest on the debt, these can turn lucrative for developers. According to industry sources, an interest rate of eight percent with payback periods of five years has been indicated, not to mention that financing infrastructure development entails a set of monetary incentive for projects undertaken, such as tax breaks and other fiscal exemptions. Furthermore, the Cuban government is creating mechanisms within the market structure to get faster responsiveness in attracting foreign enterprises.
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