Gov’t invests over $80B along the East Bank

– over 7,000 Guyanese empowered by homeownership

The government has invested over $80 billion to develop housing infrastructure along the East Bank corridor in just four years, providing sustainable and affordable housing to thousands of families.

This was highlighted by Minister within the Ministry of Housing and Water, Susan Rodrigues, during her comprehensive presentation of the housing sector at an engagement at the Georgetown Chamber of Commerce and Industry (GCCI) on Waterloo Street in Georgetown, on Tuesday. 

In four years, the government developed housing schemes at Little and Great Diamond, Providence, Prospect, Blocks – 9, 11, 13, 15, 17 and 18 at Golden Grove, Blocks 3 and 7 at Great Diamond, and other areas.

“That is just one geographical area in one region where we have spent over $80 billion to empower over 7,000 Guyanese with homeownership… We recognise the immense potential the housing sector has to make people comfortable by giving them shelter which is a basic human right. [We are also] ensuring that they have access to basic utilities in our housing schemes,” Minister Rodrigues explained.

Since 2020, more than 38,000 house lots have been distributed countrywide. 

In addition, over 3,000 housing units have been built to date, creating generational wealth for many families and generating spin-off benefits, including new employment opportunities.

Recognising this tremendous progress, the minister acknowledged that it is still insufficient to meet the demand, which exceeds 20,000 housing units.

“We are more than able and willing to bring more people on board to construct units to take this burden off of our single mothers [and] young people…finding the people who can actually execute these projects has been tough. Many times, we have had to rely on basic, traditional construction…” she pointed out.

Additionally, she reminded that the government has negotiated with local financial institutions to reduce mortgage interest rates by 2.5 per cent, a move that has benefited many families.

“Nothing happens by accident in this government. All of it is part of a bigger plan to develop this country holistically…We are working to ensure that we build this country sustainably,” Minister Rodrigues pointed out.

The minister also shared insights on several key housing initiatives, including the development of Silica City, the construction of homes for young professionals, and the implementation of the single window system, among other programmes aimed at expanding housing access.

Minister Rodrigues commended the private sector for its critical role in driving Guyana’s economic growth. Present at the meeting were GCCI’s President, Kester Hutson and other representatives from GCCI.