With his top construction company facing a slew of litigation and not about to be left out of the bidding action for prized public-funded jobs on a small detail like disclosure requirements on litigation, Hafeez Karamath pulled together an assortment of separate legal entities into what he called a "consolidated group of companies" to prequalify for State contracts.

His major construction company, Hafeez Karamath Construction Ltd (HKCL), the company named as a defendant in a string of lawsuits, "has emerged as one of the Caribbean's most successful construction companies", according to the company information provided on his tender document.

Construction Bank will re-engineer the economy -Ajanlekoko

THE dearth of funds has been variously fingered as the major problem besetting the construction industry. The plethora of uncompleted and abandoned projects that dot the nation's landscape has often been traced to this factor. Indigenous construction companies have been worst hit, hence, many of them have folded up, giving way to multinational construction companies who are often backed financially by their home governments.

Both the Federal and state governments have often hinged their preference for expatriate construction companies on the fact that their indigenous counterparts lack the equipment to execute complex jobs. But how can they effectively compete with these offshore funded companies when borrowing from commercial banks is usually at cut-throat interest rates. Built environment professionals who have been badly affected by this scenario have not rested on their oars in a bid to float a specialized bank that would be sympathetic to the cause of construction industry operators.

Finally, the contractor will take your calls

For homeowners who have been putting off remodeling projects, now may be the time to call the contractor.

While the current housing slump isn't cheering investors, it is making remodeling a kitchen or bathroom or adding an addition easier and cheaper. During the booming real-estate market of the past several years, people wanting to remodel often found themselves waiting months for contractors to take on lower-ticket jobs -- if the contractors would take them on at all. Now, sluggish home-building demand is pushing down the cost of construction materials (prices for lumber are near their lowest level in a decade) and spurring contractors to take on smaller projects -- and sometimes cut fees.

Custom and speculative builders are also starting to take on renovation jobs, picking up work they may have passed over just a year ago.