GUYANA’S potential is on display for the world to see. Contrary to what many may think, that potential is not defined by our petroleum resources. True enough, our oil and gas resources have given our economy a significant boost but, as pointed out by President Dr. Mohamed Irfaan Ali, such resources are by no means an end in itself but the means to a much greater end, namely to enhance the quality of life and well-being of the Guyanese people.

Building Expo 2023 is the brainchild of President Ali who, ever since he assumed ministerial responsibility for housing during an earlier PPP/C administration, demonstrated a passion and innovativeness in his quest to make affordable land and housing available to the Guyanese people, especially low-income families. Roughly 50,000 house lots are expected to be handed over to eligible Guyanese before the end of 2025 which builds on the tens of thousands of house lots already distributed by previous PPP/C administrations.
The theme for this year’s Building Expo is: Building for All: One Guyana, Many Opportunities. This theme is of particular relevance as the country is now in the process of evolving to higher levels of inclusivity along the lines of the One Guyana vision as articulated by President Ali. Opportunities abound in ways not possible hitherto and it is fair expectation for all Guyanese to be optimistic and benefit from our bounty.

This Building Expo has again demonstrated that the trajectory of Guyana’s development is multi-dimensional and multisectoral and not limited or confined to any single sector. Indeed, the construction sector has now become a significant driver of the growth trajectory, not only in terms of job creation but also because of the multiplier effect it is having on the economy as a whole.
The business sector has been a major beneficiary of this construction boom. Indeed, the supply of land, labour and building materials seem unable to keep pace with available demand. This poses some serious challenges for the construction sector.

Despite the challenges, the landscape of the country is changing at an accelerated pace. The design and architecture of buildings are of a much higher standard. Modern and spacious houses are being constructed as consumers take advantage of bank loans and other concessions. This is a matter that the Bureau of Standards in Guyana is paying much attention to in order to protect the interests of houseowners who may be vulnerable to unscrupulous contractors and suppliers.

The PPP/C administration has put in place a number of policy initiatives aimed at making it easier for Guyanese to own their own homes. This is made possible by way of increasing the loan ceiling for low-income individuals and families. In addition, the interest cost for loans have been reduced significantly thanks to the policy interventions of the PPP/administration.
Without a doubt, housing in Guyana is a success story. Guyana is ahead of most countries in the world when it comes to subsidised housing. Some 2000 house lots are expected to be allocated to eligible beneficiaries at this 2023 Building Expo.

This Building Expo has certainly generated tremendous interest among Guyanese as could be seen from the tens of thousands of Guyanese who swarmed their way to the Providence Stadium where the exhibition is being held. Credit must be given to President Ali and the organisers for putting together such a wonderful display of Guyanese creativity, innovation and talent.