August 22, 2016
New open policies with Cuba could open opportunities for U.S. real estate firms and contractors. For that to happen, the U.S. trade embargo must be lifted and Cuba will need to enact its own regulations to allow privatization of business.
So far, all projects must be performed in partnership with the Cuban government. The country also faces a huge construction materials shortage, with imports still limited by current regulations.
If Cuba enacts changes in its framework to allow for private investment and allow private companies to direct hire, the Cuban market may be a promising new market for the industry.
Cuba has already instituted some reforms, allowing restaurants and small bed and breakfasts to be privately owned. That could lead to opportunities for construction companies in infrastructure, transportation, building renovations and hotel construction, since Havana has a shortage of hotel rooms.
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