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– President Ali said the government will continue to roll out solid policies to improve the lives of all Guyanese
President Dr Irfan Ali said the government’s housing policy and housing drive had resulted in the creation of more than 350 new small-scale contracting businesses.
“We have over 350 new small contractors who are building houses who would have otherwise come into the system and are now building these houses and owning their own businesses. Many of them are young graduates of the University of Guyana,” the President said during his speech at the opening of the 2024 Construction Expo last week.
The President stressed that the construction industry will grow by about 30% in 2021 and another 27% in 2022.
“We expect this growth to continue,” he said, noting that government policies and programs have created opportunities for Guyanese to become not only homeowners but also business owners.
According to President Ali, Guyana has invested over $240 billion to make home ownership more accessible; this has resulted in over 35,000 homes being allocated and people benefiting from critical infrastructure developments.
In a previous speech, the Head of State also said that the government has been investing in the country’s infrastructure, improving the road network, and increasing the supply of water and electricity.
“Housing does not come automatically. It comes with the infrastructure that supports the housing program. To support these new housing programs and the 35,000 homes and houses we are investing in, we are building 414 kilometers of new roads, 250 kilometers of new water mains and over 2,200 kilometers of power lines,” President Ali said.
He stressed that the People’s Progressive Party/Civic Party (PPP/C) government has taken steps to make home ownership more affordable.
The government has delivered more than 3,000 homes, focusing on low- and middle-income groups, and is expanding the housing program to benefit all populations.
“The average low-income home was subsidized by nearly $4.2 million per unit, and we lowered interest rates…which led to an increase in new home loans of about 8% to 10%, to $56 billion,” he added.
“We built more than 3,000 homes, including more than 1,000 low-income homes, more than 400 moderate-income homes, 100 middle-income homes and more than 1,000 young professional homes at a cost of more than $5.9 billion.”
In addition, the government has also ensured support for vulnerable groups by investing in core housing. He further highlighted that the government has invested about $2 billion in housing in the hinterland, while more than 16,000 young people have benefited from the mortgage relief program.
“We not only promised, we delivered, and in the case of housing, we delivered in less than four years. We made home ownership more affordable, we created infrastructure, built roads, established an electricity network, provided water supply, and expanded housing programs to cover every segment of the Guyanese population,” said President Ali.
Some 1,730 certificates of ownership were distributed at the 2024 Construction Expo.
Housing and Water Minister Collin Croal said 2,000 more homes would be allocated.
“More than 40,000 house plots will be allotted by the end of this year. We will allot more than 2,000 plots and issue 1,730 title certificates in the next two days,” the minister said.
The Minister noted that in order to fulfil the commitments made in the manifesto, land ownership is a key symbol of government support and promotion of the prosperity of Guyanese.
“The target of allocating 50,000 homes in five years did not include the commitment in our manifesto to build complete homes. But where there is a will, there is a way. So far, we have allocated over 1,700 homes, of which over 1,500 are in various stages of completion,” he revealed.
He further disclosed that new housing areas will be identified, including Mabaruma in District One; Wales in District Three; and La Bonne Intention (LBI), Felicity, Chateau Margot, Haruni, Non-Pareil, Enterprise and Silica City in District Four.
In Region Five, Waterloo Village was identified as a new housing area, in Region Six, Moleson Creek and Palmyra were identified as new housing areas, in Region Seven, Bartica was identified, and in Region Eight, Mahdia was identified.
New housing schemes will also be developed in Plantations Hope and York in the 10th Ward.
“It is no secret that affordable housing is a critical need for the Guyanese people and easier access to finance makes the dream of 1,000 Guyanese to own a home a reality,” said Kroll.
He added: “Guyana citizens from all walks of life can count on our government’s commitment to provide housing at affordable prices.”
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