President Ali announces; says funds will be invested to address development needs, growing demand
$400 billion will be needed to enhance highways, road networks to match increase in housing

THERE are currently 57,000 applications for house lots across the country and in order for the Government of Guyana to meet the demands for housing, a massive $170 billion will be needed.
This was according to President, Dr. Irfaan Ali, at the opening ceremony for the 2023 International Building Expo at the National Stadium, Providence, East Bank Demerara (EBD), on Thursday.
The Head of State told the gathering of both patrons and participants that the government will make the necessary investments.
“They have 57,000 active applications in the system that must be processed now, and I want the population to have an appreciation for this,” Ali said, adding: “In Regions Three, Four and Six, because of the volume of applications, they are now processing applications up to 2019 as I speak to you. In the other regions, applications are more or less processed in real-time.”
Over the next three years, the government intends to embark on an aggressive plan to dent this backlog, opening new lands and constructing more homes.
“Our plan in the next three years is to develop 14,000 new house lots in Region Three; 1,000 new homes and 1,000 new lots in Region 10; 1,000 new lots in Region Seven; 4,000 new lots in Region Six; 1,000 lots in Region Five; 20,000 in Region Four; 250 in Region One; and 1,000 each in Regions Two and Nine…. we are committing ourselves to building 500 homes in the hinterland,” the President said.

This, according to Dr. Ali, will see the government being able to develop 43,000 house lots which will be able to address the 57,000 pending applicants.
To complement this rapid development, another $400 billion will be needed to enhance highways and road networks to match the massive housing increase.
“We will have to develop 200 kilometres of new four lane highway, 200 kilometers of new four-lane highway and that is in the medium term…that is about $400 billion in this one project alone,” Dr. Ali said, adding: “I wanted us to have a full and comprehensive understanding of the scale and the magnitude of work required to advance the housing programme to ensure that applicants are satisfied.”

The President said that the housing demand in Guyana has increased significantly, as the government is also providing shelter for migrants.
“We’ve already set aside $500 million in supplementary to build proper shelter for those migrants who are squatting on sea defences and other places. So, the scale of what you’re talking about is enormous,” the Head of State underscored.

COMMERCIAL AND INDUSTRIAL NEEDS
Aside from satisfying the residential demands in the country, there is also a massive commercial and industrial sector demand.
“The reality is that we don’t have enough land available in the system now to service the demand for commercial and industrial lots,” Dr. Ali admitted.
He, however, urged citizens and investors alike to be patient with the government as it looks to develop new areas.
“I believe in explaining the circumstances to the people, I believe and letting you know the truth so that you will understand the constraints…It will take some more time. It will take some more time for us to open up new lands [and] new opportunities,” Dr. Ali said.

Meanwhile, Housing and Water Minister Collin Croal, disclosed that the ministry has been able to distribute over 24,000 house lots over the past three years
“We promised to reduce the housing deficit by setting ourselves an ambitious target of allocating a total of 50,000 lots in five years. Within that promise was a commitment to explore new and innovative housing options, and provide access to finance for a lot, especially the poor and vulnerable,” Croal said.
Minister within the Ministry of Housing and Water, Susan Rodrigues, further said that another 2,000 house lots will be distributed to citizens during the exhibition.
The first-ever International Building Expo was held in 2010 and was a brainchild of then Housing Minister Irfaan Ali, who is now President of Guyana.
This year’s event features more than 400 exhibitors from prominent businesses representing a diverse array of construction-related industries, insurance firms and banking entities.
Held under the theme “Building for All, One Guyana, Many Opportunities,” the expo will conclude on August 27.