CAY HILL–General pension fund administrator Algemeen Pensioenfonds St. Maarten (APS) has begun preparatory works for its new housing project in the Welgelegen/Cay Hill area.
The work started recently when crews began clearing the area on which the 61 town houses and apartment units will be constructed.
The project is being spearheaded by APS, which was awarded the land by government in a long lease arrangement.
Over the course of the next couple of weeks APS will continue preparing the area for construction of the units. The work entails clearing of the brush, the excavation of soil and levelling of the land. APS will also start the construction of a model home at the construction site.
APS said in a press release on Sunday, that it will be launching the project as an investment opportunity for the pension fund with the project expected to generate a profitable return. The fund “is confident” that this will significantly contribute to the capital of the pension fund and safeguard long-term pension payments.
Source: The Daily Herald https://www.thedailyherald.sx/islands/61717-preparatory-work-starts-for-aps-housing-project