Over $12B spent on construction of new homes since 2020

Providing opportunities to make home construction easier has always been a key component of the PPP/C’s development agenda.

Since its assumption of office in 2020, approximately $12.5 billion was expended for the completion of over 1,865 houses on the coast.

This update was provided by Minister of Housing and Water, Collin Croal, during his Ministry’s year-end press conference. The minister highlighted that the government is intent on providing home ownership for all Guyanese.

He said, “[You need to] understand that we are not leaving anyone behind. Every segment of our population has an opportunity for equal access for homeownership.”

These completed houses spanned a range of categories, including low, moderate, middle-income,  young professionals and core homes.

In 2024, a whopping $4.3B was invested in housing on the coast which aided in the completion of more than 550 houses. This further indicates now that over 550 families on the coast have been empowered with a more stable and secure future in the last year.

Additionally, the minister explained that another 1,724 houses are at various stages of completion.

“We have another 1,724 houses that are in progress [which] are at various stages. By the middle of this year, all of those are expected to be completed….and I am not even referring to new homes that are commencing,” the housing minister stated.

Hinterland Housing

The hinterland has not been excluded from these developments. To date, over $750 million was invested in the Hinterland Housing Programme.

In the 2024 budget, $1 billion was allocated for the completion of 400 houses in regions One, Seven, Eight and Nine.

“Over 100 of those houses have been handed over in regions one and nine, and the work continues to complete the rest of the hinterland housing programme quickly,” Minister Croal underscored.

Steel and Cement Subsidy Programme

The government continues to offer critical support to citizens aspiring to own homes.

This assistance includes a subsidy in the form of a $225,000 voucher, which covers the cost of a sling of cement and sufficient steel to construct the foundation.

“We have expended over $370 million on this programme for a total of over 1,478 vouchers issued to various regions. Obviously, region four will be the highest, and the region for $119 million overall, with 476 vouchers issued in the year of 2024. We have invested $129 million to issue 516 vouchers on this program,” Minister Croal noted.