Cay Hill:--- A new housing project in the Welgelegen / Cay Hill area is now officially of the ground, as crews began clearing the area on which some 61 town houses and apartment units are to be constructed.
The project is spearheaded by APS, St. Maarten’s general pension fund administrator, 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 leveling of the land. Additionally scheduled to start shortly is the construction of a model home at the construction site.
APS is 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 the long-term pension payments.
