Business

Obtaining Commercial Property

Office Space

A wide range of office space is available for rent, both within the central business district of Port of Spain, as well as in areas located around the city. There are several real estate agencies with commercial divisions that can assist a foreign investor in locating office space.

Within the central business district of Port of Spain, rental of office space costs between TT$4.00 -TT$5.00 per square foot per month (approximately US$0.70 - US$0.80), inclusive of air-conditioning, carpeting and parking facilities in most cases. Outside the main city, rental costs may be as low as TT$1.50 (approximately US$0.25) per square foot, to a high of TT$4.00 (approximately US$0.70) per square foot.

Industrial Property

Accommodation is available to industrialists engaged in a wide range of manufacturing activities, including processing and service industries. These extend, but are not necessarily limited to plastics, ceramics, chemicals, wood and paper processing, food operators and feed mills.

There are nineteen (19) industrial estates of which eighteen (18) are fully developed. These are located throughout Trinidad and Tobago. Most feature covered accommodation as well as land sites.

Covered Accommodation - (Subject to Availability)

  • Between 3,000 and 5,000 square feet
  • Located at O'Meara, Diamond Vale, Pt. Lisas, Morvant, Plaisance, Macoya, Trincity, East Dry River, and Tobago Industrial Estates
  • Supplied with 115/220V, 3 phase electrical supply
  • 25 year leasing package; shorter terms available if required
  • Competitive rates between US$1.00 - US$1.50/m2 per month

Land Sites

  • Sizes range from approximately 10,000 square feet to 1/2 acre, larger acreages can be assembled
  • Available at O'Meara, Frederick Settlement and Point Fortin Industrial Estates
  • Development infrastructure available including natural gas
  • Attractive leasing packages - 30 years; 45 - 99 year terms available
  • Competitive rates between US$1.25 and US$1.75 per sq. ft. negotiable for larger parcels

Constructing Properties

The development approval process for buildings involves a number of steps. It should be noted however, that the current legislation under which these procedures are designed is being revised. The changes are expected during 1996 and will aim at streamlining the process to make it easier for investors. The current process is as follows :

Constructing A Building - Organizations with whom one Interfaces

ORGANIZATION COMMENTS
Design and Drafting of Plans Plans usually consist of the site plans, elevation, floor, and structural designs, plans for water distribution and sewerage disposal and may also contain an electrical wiring plan.
Town and Country Planning Division of the Ministry of Planning and Development There are two types of permission:Outline Planning Permission - Town and Country informs applicants if the proposed development is consistent with the existing land use policy, and provides overall development standards for the site. This is valid for 1 year.
  Full Planning Permission - This requires a formal application that is accompanied by detailed plans and specifications of the building, including site plans, floor plans, elevations, building designs and detailed back-up documentation that varies according to the type of development.
  An Environmental Impact Assessment may also be requested in cases where the type of development is likely to cause an adverse impact on the environment or where the site is located in an environmentally sensitive area.
Local Health Authorities Upon receiving planning permission from the Town and Country Planning Division, plans are forwarded to the relevant local health authority, which ensures that the proposed development satisfies public health and building requirements, such as having sufficient ventilation, water and sewerage arrangements, and for the issue of a building permit in respect of the structural integrity of the building.
Chief Designs Engineer Ministry of Works and Transport Where the local authority does not have an in-house engineer, the Chief Designs Engineer of the Ministry of Works scrutinizes plans for their structural integrity
Water and Sewerage Authority (WASA) They would be concerned with water distribution and sewerage disposal for major developments.
Fire Services Required for buildings to which the public has access. This approval is required before Full Planning Permission.
Factory Inspectorate Division Required for developments that involve erection of factory buildings. This approval is a condition of Full Planning Permission.
Highways Division of the Ministry of Works and Transport Required if the development requires direct access to a highway.
Drainage Division of the Ministry of Works and Transport Required if a building is sited in an area susceptible to drainage problems and if effluent flows from the building.
Commissioner of State Lands - Director of Surveys Buildings on leased State lands require approval of the Director of Surveys prior to submission of plans to the Town and Country Planning Division.
Water Connections from Water and Sewerage Authority (WASA) Upon approval of plans for water distribution and sewerage disposal, a temporary water connection may be requested for the construction phase.
  For final connection, an inspection is carried out by WASA and a certificate is issued if the water and sewerage layout has been approved
Electrical Connection from Trinidad and Tobago Electricity Commission (T&TEC) An inspection must be carried out during the construction phase at a particular point in the installation of the wiring and, at the end before approval and connection made.
Completion Certificate An inspection is carried out during the course of the construction and at the end, by the Local Health Authority. A completion certificate may be granted on completion up to a certain phase of the construction.
Quantity Surveyor’s Report If the project is to be financed by a financial institution, they will request a report from a designated Quantity Surveyor, who reports on the estimated cost of the building, based on the approved plans.
Valuation of the Property If the project is to be financed by a financial institution, they will request a report from a designated Valuator, prior to construction based on the approved plans, and upon completion of the building. The Valuator reports on the market value of the property based on several factors and recommends the amount of insurance coverage.
Commissioner of Lands and Surveys An assessment is carried out for the purpose of determining land and building tax rates. The assessment is then passed to the Water and Sewerage Authority for determining water rates.

Buying an Existing Property

Apart from the legislation under the Foreign Investment Act of 1990 for the purchase of land by a foreign investor, there are no approvals required for buying a property, providing the use of the property remains the same. If it is going to be used for a purpose other than the intended use when it was constructed, the investor will have to obtain approval from the Town and Country Planning Division.

  • Trinidad and Tobago Housing Development Corporation (HDC) Commercial Property

    Trinidad and Tobago Housing Development Corporation (HDC) Commercial Units are constructed in large HDC communities to provide residents with retail services close to their homes. Units are constructed with the same high standards as HDC homes and eliminate the need for entrepreneurs to erect informal, unapproved structures around the neighbourhood. It also provides small entrepreneurs within the community with the opportunity to get into business.

    Tenants of the Trinidad and Tobago Housing Development Corporation (HDC) are required to make monthly rental payments for their accommodation. Maintenance requests can be submitted by tenants of any HDC rental property. Completed application forms can be delivered or mailed and persons interested in renting vacant space in existing commercial units can write a letter expressing such interest, and outlining the services of the planned business to:

    Trinidad

    Head Office
    44-46 South Quay
    Port of Spain
    Trinidad, West Indies
    Tel. (868) 623-4663
    Cashier's hours: 8:00 am to 2:00 pm, Monday to Friday, except public holidays

    Beetham Area Office
    Beetham Gardens
    Trinidad, West Indies
    Tel. (868) 623-5734
    No cashier service.

    211 Lady Young Avenue
    Morvant
    Trinidad, West Indies
    Tel. (868) 624-3010
    No cashier service.

    HDC Charford Court
    Cor Charlotte and Oxford Streets
    Port of Spain
    Trinidad, West Indies
    Tel. (868) 627-7029
    No cashier service.

    Bldg. 23-25 Duncan Street
    Port of Spain
    Trinidad, West Indies
    Tel. (868) 627-8479
    Trinidad No cashier service.
    17 Water Hole Road

    Cocorite
    Trinidad, West Indies
    Tel. (868) 628-0153
    No cashier service.

    Jacana Avenue
    Maloney Gardens
    Trinidad, West Indies
    Tel. (868) 646-3086
    Cashier's hours: 8:00 am to 2:00 pm, Monday to Friday, except public holidays

    2 Mc Gillivary Street
    San Fernando
    Trinidad, West Indies
    Tel. (868) 652-2010
    Cashier's hours: 8:00 am to 2:00 pm, Monday to Friday, except public holidays

    Tobago

    Settlements Department
    2nd Floor, ANSA Mc Al Building
    Milford Road
    Scarborough
    Tobago, West Indies
    Tel. (868) 639-6800
    Fax. (868) 639-3494
    Opening hours: 8:00 am to 4:00 pm, Monday to Friday, except public holidays.

    Home improvement programmes by HDC:

    The following offices accept applications for home improvement programmes, in addition to the HDC offices listed above:

    Sugar Industry Labour Welfare Committee Office (SILWC)
    Cor. Dove and Balisier Avenues
    Couva
    Trinidad, West Indies
    Tel. (868) 636-2772
    Opening hours: 8:00 am to 4:00 pm, Monday to Friday, except public holidays.

    Settlements Division
    Tobago House of Assembly
    2nd Floor, Ansa Mc Al Building
    Milford Road
    Scarborough
    Tobago, West Indies
    Tel. (868) 639-6800
    Opening hours: 8:00 am to 4:00 pm, Monday to Friday, except public holidays.

  • Applying to Rent a Government House

    The Trinidad and Tobago Housing Development Corporation (HDC) provides affordable rental units to eligible low and middle income citizens. This service targets citizens who do not own land or housing and do not qualify for a mortgage. If you find it difficult to obtain affordable rental accommodation, you may be able to benefit from the HDC rental housing program. Rental units are made available to the public either through the construction of new housing or through the recovery of housing units due to arrears in payments, abandonment or relinquishment.

    For further information, please contact the Trinidad and Tobago Housing Development Corporation at (868) 623-HOME (4663) ext. 5522 between the hours of 8:00 am and 4:00 pm.

  • First Home Purchase (FHP)

    The First Home Purchase (FHP) Subsidy is for persons who want to acquire their first home, but are unable to do so because they cannot qualify for a mortgage due to limited financial means. Through the programme, the Ministry of Housing and the Environment gives an upfront subsidy that does not have to be repaid. Contact:

    Ministry of Housing and the Environment
    44-46 South Quay
    Port of Spain
    Trinidad, West Indies
    Tel. (868) 623-HOME (4663)
    Opening hours: 8:00 am to 4:00 pm, Monday to Friday, except public holidays

    Housing Development Corporation (HDC)
    Sub Office (formerly National Housing Agency, NHA)
    Mc Gillvary Street
    Mon Repos
    San Fernando
    Trinidad, West Indies
    Tel. (868) 652-3116
    Opening hours:8:00 am to 4:00 pm, Monday to Friday, except public holidays

    Sugar Industry Labour Welfare Committee Office (SILWC)
    Corner Dove and Balisier Avenues
    Couva
    Trinidad, West Indies
    Tel. (868) 636-2772
    Opening hours: 8:00 am to 4:00 pm, Monday to Friday, except public holidays

    Tobago House of Assembly (THA)
    Settlements Division
    2nd Floor, ANSA Mc Al Building
    Milford Road
    Scarborough
    Tobago, West Indies
    Tel (868) 639-6800
    Opening hours: 8:00 am to 4:00 pm, Monday to Friday, except public holidays

    For further information, please contact the:

    Programme Monitoring and Coordinating Unit (PCMU)
    Ministry of Housing and the Environment
    44 - 46 South Quay
    Port of Spain
    Trinidad, West Indies
    Tel. (868) 623-HOME (4663) ext. 2094 / 2170
    Opening hours: 8:00 am to 4:00 pm, Monday to Friday, except public holidays

Ministry of Housing and the Environment website: http://www.mphe.gov.tt/

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