UDeCOTT’s core business is Project Management and development, Facilities Management and Hotel Management. In this regard, UDeCOTT’s Total Revenue in 2007 of TT$726.1 million increased to TT$763.7 million in 2013.
The 5% increase in total revenue in the past six years is reflective of the growth of UDeCOTT’s Project Management business and the result of the implementation of several mega projects in Trinidad and Tobago. These projects include the construction of police stations, hospitals, modern office accommodation, recreational and parking facilities as well as complex restoration projects. UDeCOTT is entitled to project management fees that are calculated as a percentage of the more than TT$1 billion that the projects are worth.
UDeCOTT’s role also extends to the provision of Facilities Management Services intended to enhance and support the efficient operation of the relevant infrastructure once completed. These services are provided via our Facilities Management Division, which has been experiencing positive growth since its introduction in 2008. With the provision of these services, UDeCOTT is entitled to Facilities Management fees which are based on a percentage of all costs incurred for these associated works performed.
In 2008, UDeCOTT became the owner of the first and only five-star hotel in Trinidad and Tobago. Revenue from the successful operation of this hotel experienced a significant level of growth from TT$168 million in 2008 to TT$282 million in 2013, a 67% increase as at December 31, 2013.
UDeCOTT’s income as at December 2013 of TT$763.7 million was derived from the following activities: