$30B to be spent on home construction for 4,500 families
Government will be utilising some $30 billion to construct 4,500 housing units for families in the lower to moderate income, and young professional brackets.
Minister of Housing and Water, Collin Croal announced Friday that 1,500 housing units will be constructed at La Bonne Intention (LBI), East Coast Demerara, Region Four, 1,000 at Leonora, West Coast Demerara, and 1000 at Wales, West Bank Demerara in Region Three.
Additionally, 1000 houses will be constructed at the new Silica City, to be established along Soesdyke-Timehri.
The initiative forms part of the PPP/C Government’s thrust of providing affordable housing to Guyanese through its turn-key initiatives, distribution of house lots, and other support in the form of access to financing and construction materials.
“Since the return of the PPP/C to government, we have re-energised the housing and construction sectors through the introduction of bold and aggressive home ownership initiatives at the policy level,” he said, during the opening of the 2022 International Building Expo at the National Stadium at Providence.
With the establishment of new housing developments, and the upgrading of existing areas, Minister Croal said over the past two years, over 12,000 Guyanese received house lots through allocation exercises, as well as the turn-key initiatives.
Under the turn-key programme, some 1,200 low, moderate and young professional units and core homes for the vulnerable group are being built in Regions, Three, Four, Six and Ten, 300 of which have been handed over to the beneficiaries.
The project to construct houses was conceptualised by His Excellency, Dr. Mohamed Irfaan who had initiated the ‘turn key’ homes initiative when he served as housing minister prior to 2015. In keeping with its manifesto, the PPP/C Government is committed to delivering 50,000 house lots to Guyanese within its first term in office. Minister Croal said the intention is to distribute 22,000 lots to Guyanese by the end of 2022.