Palm Beach, Barbados
Market conditions in Barbados, in-line with the current global turndown, have resulted in more favourable tender prices for clients, whom only two years ago often struggled to solicit competitive bids, such was the overheated nature of the construction sector.
There are several good Architectural, Engineering Project Management and Quantity Surveying firms in Barbados and local association websites are listed on this page.
Majority of the consultants work in both metric and imperial measurements.
There is a published building code dated 1993 in Barbados but it is not a legal document yet. However, all the professional consultants design to international standards (either US, UK or the local building code).
The local Town and Country Planning Department are responsible for granting planning permission for all the erection of all structures in Barbados. It is normal practice for architectural concept or schematic drawings to be submitted for approval. All submissions must be made by a local consultant.
There are several good quality contractors in Barbados capable of building small, medium and large projects. There is a local Contractors Association by the name of Barbados Contractors Association.
Over a year ago, it was difficult to get contractors to quote for projects but since the global downturn, the work has dried up and an increasing number of contractors are quoting for projects. Similarly, someÂ labour resources over a year ago had to be imported but there appear to be sufficient resources readily available in Barbados.
Construction costs in Barbados vary depending on the nature of the project but listed below is an indication of costs for typical standard developments:
|Air-conditioned office building||$250 – $350/s/f|
|Medium income home||$225 – $325/sf|
|High income home||Upwards of $350/sf|
|Steel frame warehouse building||$100 – $150/sf|
|Mid-end condominiums||$280 – $400/sf|
|High-end condominiums||$500 – $700/s|
All the major funding institutions lend to overseas buyers, but each bank has its own independent procedures for approval of loans.
Up until the fourth quarter 2009, a number of tourism-related construction projects were put on standstill due to the global recession. Over the last quarter of 2009 some developments showed signs of starting in 2010/2011. There are a number of promising projects for the next two to three years which with the aid of overseas funding should help boost the economy of Barbados. Amongst these are the completion of the Four Seasons Development & Marina works at St. Peter’s Bay, which is scheduled for completion early 2011, and the Beachlands development, with an anticipated start date of mid-2010. Established projects such as the Villas at Royal Westmoreland are ongoing.
The forecast of costs is by no means an exact science, and depends heavily on the source of information procured. Not only must local markets be researched and considered, but also those global markets which directly affect the construction markets in the Caribbean region. This is especially true of those countries within and without the region which manufacture raw materials as well as finishes items. Therefore, influences are truly global, inasmuch that whilst, traditionally, materials and goods have generally been procured from fellow Americas markets, raw and finishes materials are now also imported from countries such as Indonesia and China in the far east to European countries such as Italy and Germany for specialist finishes items such as kitchens and tiling.
In order to arrive at the following forecasts, we have therefore considered world markets as well as our local markets, where we have researched basic costs of materials, plant and labour as well as analysing indicative construction costs.
|Consolidated Labour, Plant and Material|
Notes: Cost research on an ongoing basis includes, but is not restricted to the following cost elements, which represent common costs of construction within the region. A weighting has then been applied to proportion the percentage of the value of each element against a notional whole project cost: