Minister outlines ambitious $3B development plan for housing sector

– works ongoing to prepare new housing schemes
– electricity, potable water to be provided
– $1.7Billion allocated for land acquisition from NICIL, GUYSUCO and GL&SC
Minister within the Ministry of Housing and Water, Hon. Susan Rodrigues

Minister within the Ministry of Housing and Water, Hon. Susan Rodrigues, says Guyanese can look forward to more sustainable housing solutions as $3 billion has been allocated in the 2020 Budget for the sector.

The Minister was at the time addressing the National Assembly during Budget debate on Tuesday.

“$1.721Billion is allocated for infrastructure development to make serviced lots available. This allocation includes monies for the acquisition of lands from NICIL, GUYSUCO and GL&SC as part of our 50,000 house lots commitment to the electorate. This 2020 programme sets the conditions for the awakening of the housing sector under the PPP/C,” Minister Rodrigues said.

Additionally, $292.8 million has been budgeted to begin land preparation for residential house lots. Part of this sum has been earmarked for the construction of roads and bridges to access lands being prepared in Recht-Door-Zee, Block AI Annandale, Cummings Lodge, Industry, Vigilance, Lethem, Kwakwani and other locations.

The Minister said Guyanese could look forward to a fair house lot allocation exercise.

Another, $200Million has been budgeted for electrical equipment for 16 housing areas, including Cummings Lodge, Annandale, Prospect, No. 79 Skeldon Estate Backland, No. 75 Village, Hampshire, and Williamsburg. 

Residents in housing schemes, especially those at Lust en Rust and Prospect, can also look forward to having an adequate supply of potable water with $80Million being budgeted for the installation of wells.

Communities along the West Bank Demerara, East Bank Essequibo, East Berbice, Lethem and Linden are also set to benefit. 

“$49.2 million [has been allocated] to … install LED street lamps in 16 housing areas in Belle West, Schoonord, Zeelugt, Uitvlugt, Farm, Covent Garden, Herstelling, Peter’s Hall, Kilcoy/Chesney and Wisroc, among other areas,” Minister Rodrigues said.

The Government has also announced the restoration of the $30Million ceiling on loan interest, which is tax-deductible for first-time homeowners. Prospective low-income homeowners can now borrow $10Million as opposed to the previous sum of $8Million. They can also look forward to lower interest rates.