Mobile: 1 268 464 9443

The Government of Antigua & Barbuda


and the
          Antigua & Barbuda Investment Authority  
presents

The Government of Antigua and Barbuda, in Collaboration with the Antigua and Barbuda Investment Authority (ABIA) has embarked upon an 18 month Initiative “Construct Antigua & Barbuda” in an effort to stimulate growth in the construction sector and build confidence in the economy. The initiative begins on August 1, 2011 and end March 31 , 2014.

The main objectivesof the Construct Antigua Barbuda Initiative (CABI) are to:

  • Make homeownership affordable by reducing costs by 15-20%
  • Stimulate economic activity
  • Create employment in the construction sector
  • Build confidence in the economy via government policy

 How it works

Under this initiative, potential homeowners and participants would be entitled to government incentives including zero duty and discounts on all building material procured locally as well as reduced rates from the local banks, insurance companies, aggregate suppliers and contractors registered with the ABIA. The program also applies to citizens living abroad. 

All interested parties, (i.e. Potential Homeowners & Service Providers including Contractors, Carpenters, Plumbers, Electricians, Tile Setters etc.) desirous of participating in this program MUST first register with the ABIA to reap the benefits of the CABI.

 As part of the registration process, a potential homeowner will be required to present the following:

  • A signed contract/agreement with their contractor
  • Estimate (Template provided by ABIA)
  • A copy of DCA Approval
  • DCA Approved Plans (Hard and Soft Copies)
  • Identification (Preferably Passport or Driver’s License) 

 The ABIA will provide a list of approved service providers including contractors and sub-contractors. Although it is not mandatory to use a contractor from the ABIA list, approved contractors have agreed to reduce their profit margin so as to reduce the cost of construction. 

All contractors must be registered with Medical Benefits, Social Security, Board of Education and Inland Revenue. The CABI will specify the reduction in the percentage of profit range to be used by contractors and subcontractors.  The CABI will also specify how estimates should be prepared. Upon completion of registration and submission of all required documents, potential homeowners will receive a letter of approval and a certificate to present to participating service providers.   Only participating service providers registered under the initiative are authorized to grant benefits against future claims of Customs Duty due to the Government of Antigua and Barbuda.  Each construction material supplier (hardware store, aggregate suppliers etc.) is required to provide ABIA with a signed receipt of items supplied.

Potential Homeowner Benefits:

  • 10% – 15% discount on all building supplies procured locally
  • Reduced rates on labour with participating contractor/subcontractor
  • 7.5% - 7.75% Interest rate with participating banks on a 25-30 yr term, as well as
  • 50% - 100% waiver of commitment fee
  • Discounts on premiums with participating Insurance companies
  • Discounts with participating aggregate suppliers

Apex's construction partner Kiwi Engineering & Construction Ltd. is a member of CABI.

Contact Apex International for more details.

Tel: 1 268 464 9443 or 1 305 394 8013

Email: apexrealtors1@yahoo.com

 

 

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