–gov’t making home-ownership more affordable, more than $200B invested in housing
–more to be done to fast-track land regularisation, promote ownership, President Ali says
–56 Region Three residents secure certificates of title

MORE than $240 billion has been expended to make home-ownership more affordable in Guyana, and according to President Dr. Irfaan Ali, this has resulted in over 35,000 houselots being distributed and persons benefitting from crucial infrastructural development.

Dr. Ali, during a video broadcast on Sunday, said that the government has simultaneously been investing in the country’s infrastructure, enhancing road networks, and improving the availability of water and electricity.

“Housing does not come by itself. It comes with infrastructure to support housing schemes. To support these new housing schemes and these 35,000 houselots and homes that we’ve invested in, we have built 414 kilometers of new roads, 250 kilometers of new water transmission mains and more than 2,200 kilometers of electricity transmission lines,” President Ali said.
The People’s Progressive Party/Civic (PPP/C) Government, he highlighted, has implemented measures to make home-ownership more affordable, including subsidies and lower interest rates.
Already over 3,000 houses have been delivered, with a focus on low- and moderate-income segments, and the government is expanding the housing programme to reach every part of the population

“An average low-income house lot is subsidised by almost $4.2 million and we brought down interest rates…. This has led to an increase of about eight to 10 per cent in new housing loans at a value of $56 billion,” he said adding:

“We built more than 3,000 homes, more than 1,000 low-income housing at a cost of more than $5.9 billion, more than 400 moderate-income homes, 100 middle-income homes and more than 1000 young professional homes.”

In addition to this, the government has ensured support to the vulnerable by investing in core homes. He further highlighted that some $2 billion has been invested in hinterland housing, while more than 16,000 young people have benefitted from the mortgage relief programme.

“We don’t just promise, we deliver, and, on housing, we have delivered in less than four years. We have made home-ownership more affordable, we have created infrastructure, built roads, built electricity networks, given access to water and expanded a housing programme to reach every segment of the Guyanese population,” President Ali said.

LAND TITLES
Meanwhile, some 56 persons received certificates of title for houselots in Region Three (Essequibo Island- West Demerara), on Sunday.

The beneficiaries from the communities of Barnwell, De William and Philadelphia were granted their legal ownership of the lands they have been occupying for years.
The distribution fulfilled a commitment that was made by President Ali during a recent outreach in the region.

“You will now be able to use this important asset to secure loans for home improvements, expand your businesses and build prosperity for your families,” the Head of State said.

The government, he related, is in the process of regularising more areas in the region, and in those areas where lands cannot be regularised, the government will work to relocate residents.
“It’s not just about land titles, it’s about providing infrastructure, building roads, expanding roadways, and ensuring access to water, electricity and drainage. We are committed to offering a complete package for a better and more prosperous life,” President Ali said before personally handing out certificates to residents.