Credai: Construction sector going through tough phase

  • | Thursday | 5th March, 2020

By Express News ServiceKOCHI: The state’s construction sector is going through a tough phase, office-bearers of the Confederation of Real Estate Developers’ Associations of India (Credai), Kerala chapter, have said. The office-bearers said the sector was plagued by economic slowdown, unforeseen developments like Maradu demolition and confusion over Coastal Regulations Zone (CRZ) norms. “Besides the economic slowdown, the Maradu flats’ demolition has proved to be a double whammy for the business. Currently, we are offering financial support to our members. The confusion over CRZ norms has made customers reluctant to buy apartments,” Najeeb Zackeria, managing director, Abad builders and former chairman of Credai, told reporters recently.

By Express News Service KOCHI: The state’s construction sector is going through a tough phase, office-bearers of the Confederation of Real Estate Developers’ Associations of India (Credai), Kerala chapter, have said. The office-bearers said the sector was plagued by economic slowdown, unforeseen developments like Maradu demolition and confusion over Coastal Regulations Zone (CRZ) norms. “Besides the economic slowdown, the Maradu flats’ demolition has proved to be a double whammy for the business. Currently, we are offering financial support to our members. The confusion over CRZ norms has made customers reluctant to buy apartments,” Najeeb Zackeria, managing director, Abad builders and former chairman of Credai, told reporters recently. The office-bearers said the fifth Credai state conference, ‘StateCon 2020’, will be held at Grand Hyatt here on March 6 and 7.The theme of the event will be ‘Nurturing ambitions reviving hopes.’Governor Arif Mohammad Khan will inaugurate the event at 10.30am on March 6.

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