Minister Condor outlined that events were progressing smoothly at Beacon Heights and that the recent issues surrounding the project have subsided.
He indicated that the issues that were raised by the Chamber of Industry and Commerce (CIC) were fittingly addressed.
The Minister estimated that the landscaping component of the project should be completed by May of this year and the complete build-out of the project, over the next 7 to 10 years.
It was also revealed that the Beacon Heights project was going to benefit from a major sales campaign exercise to be hosted in Canada in May. This, it is hoped would further generate interest and may lead to higher sales.
Minister Condor also informed the Cabinet that a decision was taken, that going forward, the Beacon Heights project would be funded by the receipts from sales and by clients’ deposits, as this was the most appropriate strategy at this time, taking all relevant matters into consideration.
Earlier this year, the housing scheme came under much criticism over the slow pace and huge expenditure, though at the time none of the units had been completed.
Members of the public were outraged that despite over 70 million said to have been spent, there was little to show.
At one point work had come to a halt, over financial disputes between the main contractors, CONTEC, and some of the sub-contractors, who argued that they were not being paid their agreed fees.