FOR IMMEDIATE RELEASE
Sunday, May 13th, 2018
Statement on the Signing of a Memorandum of Understanding Between Bahamaren Limited and China Construction Modular Housing Co., LTD on cooperation in the area of Modular Construction
Beijing, China – On Friday, May 11th Bahamaren Limited Managing Director Latrae Rahming, together with Michael B.Wei International Manager of China Construction Modular Housing Co., LTD, signed a Memorandum of Understanding to establish a framework for mutually beneficial cooperation in the area of Modular Construction.
We are pleased with the collaborative efforts between Bahamaren Limited and China Construction Modular Housing Co., LTD led by Bahamaren Limited with a comprehensive range and participation of industry stakeholders from both The Bahamas and China.
This week we celebrate a significant step by signing a Memorandum of Understanding to address the problem of providing adequate, secure, and affordable housing in The Bahamas.
Bahamaren Limited recognised the importance of reducing the overall housing deficit to achieve the Bahamas overall Sustainable Development goals that lead to improved equity, economic productivity and environmental sustainability.
The Memorandum of Understanding underscores the importance of a new tailored approach to providing adequate and affordable housing for all Bahamians.
We emphasised the need for reducing the housing gaps through a solution that is fuel-ed by its cost-effective methods and reduce project timelines.
Memorandum of Understanding Background
The MOU will facilitate the collaboration of best practices for the offsite construction of adequate housing that is resistant to climate change, improves energy efficiencies of building through solar energy, and decrease the greenhouse gas emissions.
The MOU aims to assist the signatories’ individual efforts to introduce an alternative form of construction that guarantees a transformative improvement all-encompassing the asset lifecycle in time, cost, quality and health and safety.
To achieve the MOU’s objectives, the parties agree to facilitate both public and private sector dialogue regarding procedures used to develop and adopt regulations to invest in and then unlock the value of offsite construction. Also, the parties will discuss best practices for greater transparency of offsite supplier capacity and product quality.
Bahamaren Limited is focused on using offsite construction and assembling of residential housing as a crucial instrument to addressing the Bahamas housing crisis. This mission means we can build homes quicker, cheaper and better while achieving greater certainty over costs. Our company has set out strategic priorities of smart construction and design, sustainable development and improved trade performance.
Bahamian talent will drive our mission complimented by the transfer of technology and knowledge between Bahamaren Limited and China Construction Modular Housing Co., LTD. Our company will capitalise on the greater use of modern methods of construction. Bahamaren Limited will introduce full solarised smart homes as a part of its product offering. We believe the signing of this MOU represents a robust response to a broader social and economic challenge.
Bahamaren Limited recognises China Construction Modular Housing Co., LTD’s long history of professionalism and credible reputation. For this, we have identified the company as a suitable partner in our approach to be a solution driven company coupled by adding an innovative mixture.
Pictured from left: Marketing Manager at CCM Jin Ge; Bahamaren Limited VP of China Affairs Zhao Lei; International Manager at CCM Michael.B.Wei; Managing Director at Bahamaren Limited Latrae Rahming; Chief Technology Officer at Bahamaren Limited Shakeem Lightfoot and ; Chief Operating Officer at Bahamaren Limited Thomas Barnett.