China Moving Faster into the Prefab Housing Market in the Americas

Suriname has entered into an agreement with China to produce prefabricated homes for export to South America and the Caribbean.

The financial details of the accord was not disclosed, but Foreign Affairs Minister Winston Lackin signed declarations of intent with the Chinese ambassador Yang Zigang and He Baoxiang, vice governor of the Hunan province, regarding the construction of the plant and the supply of houses.

Lackin said the operation will make it possible for more people in Suriname to own a home.

“There will be houses in different price ranges, from low income, mid class to large. This will satisfy the people who want to own their own home,” he said.

The vice governor of the Hunan province said the Smalkalden operation should become the center from which his province will penetrate the Caribbean and South America markets.

If we are not careful, China will begin making inroads into both the prefab and modular housing industries in the US market and expect them to be more like an on-frame modular which is an easier market for them to exploit.

“We will be coming in with companies and technology to help develop the economy here further,” he added.

Director at the Ministry of Public Works, Anwar Hassankhan, said the company, Broad Homes Industrial International Co, will produce between 2,000 and 2,500 prefab homes monthly. He said it should begin operations early next year.

Hassankhan said the deal presented a win-win situation for Suriname, hinting that Suriname is providing the land while Beijing is providing the investment.

They will not be sending for Chinese products, but they have decided to set up a plant here that will be using local products. In addition they will be employing local people and supply Suriname with affordable homes,” Hassankhan said, noting that while the homes will be sold on the local market, the intention is also to export to the region.