–$50B to be injected for construction of 4,500 housing units, expansion of major highways
–authorities plan to expend over $100B in three years to develop infrastructure in all regions, Minister Croal says

THE government will be investing a total of $50 billion to construct 4,500 housing units and expand major highways, according to Minister of Housing and Water, Collin Croal, during his address to thousands of people at the launch of the International Building Expo 2022, on Friday.

There, he said that $20 billion would be spent on the expansion of major highways, including the Aubrey Barker Road, Eccles Landfill road and Schoonord to Crane roadways, among others, while a further $30 billion will be expended on the construction of 1,500 housing units at LBI, 1,000 at Leonora, 1,000 at Wales and 1,000 at the new Silica City.

Minister Croal said that, while those projects were government-led, there were many private sector-led projects in various stages, making the offerings of Building Expo 2022 critical.
Further, he said that, over the next three years, more than $100 billion would be invested in regional infrastructure and building works across the ten administrative regions.

This is all in recognition of the increasing demand for housing and other supportive infrastructure.
Citizens, he said, want pre-fabricated and pre-built houses, and the rapidly expanding oil and gas sector has brought its own demands for modern housing, particularly condominiums, which were formalised with the recent passage and enactment of the Condominium Bill No.4 of 2022

“We have grown accustomed to building with concrete and wood, but with the global challenges of climate change and environmental exploitation, we must now pursue construction technologies which will reduce our carbon footprint,” Minister Croal noted.

Expanding on technology, Minister Croal said the construction sector has impressive new technology that allows for homes to be completed in shorter timespans, new kinds of building materials, and 3D printing.
“We will also see a model construction built entirely from recycled materials and shortly we will witness the unveiling of an industrial size 3D Printer which will over this three-day event will construct Guyana’s first 3D printed house and patrons will be able to get miniature models of their houses using their building plans. E-Networks will also unveil a smart home which will demonstrate the use of internet in home security,” the Housing Minister noted.

These new technologies, he said, will bring awareness of better methods of home construction that are not just faster, but more energy efficient, eco-friendly, more durable, and affordable options which will challenge contractors and engineers as well as architects and financial institutions to take new risks and increase their capacities.

He explained that the government set the ambitious target of 50,000 house lot allocations in the first five years and has committed to establishing Silica City, Guyana’s model smart city outside of Georgetown. These works, he said, will begin to close the development gap between the coast and hinterland and inject new life into others.

“Since the return of the PPP/C to government, we have re-energised the housing and construction sectors by introducing bold and aggressive homeownership initiatives at the policy level and reducing the gaps in the application and processing time. The establishment of new housing developments across Guyana and the upgrading of existing areas within the past two years have been met with huge smiles of relief from citizens who are anxious to own their own homes,” he emphasised.
At the expo, 350 companies, including banks, share the same space to combine their vision for a new era of housing solutions.