–President Ali says, as gov’t continues to roll out solid policies to enhance the lives of all Guyanese

MORE than 350 new small contracting businesses have been created as a result of the government’s housing policy and housing drive, President, Dr. Irfaan Ali has said.

“We have more than 350 new small contractors that are building homes, that would have entered the system, that are now building those homes and owning their own businesses. Many of them are young graduates from the University of Guyana,” the President said while addressing the opening ceremony of the 2024 Building Expo last week.

The President highlighted that the construction sector grew by about 30 per cent in 2021 and another 27 per cent in 2022.

“We expect this growth to continue,” he posited, noting that the government’s policies and programmes have created opportunities for Guyanese to not only become homeowners but also business owners as well.

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

During a previous address, the Head of State had also 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 kilometres of new roads, 250 kilometres of new water transmission mains and more than 2,200 kilometres 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.

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 houselot 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.”

Additionally, 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.

At the 2024 Building Expo some 1,730 certificates of title were distributed.

According to Housing and Water Minister, Collin Croal, more than 2,000 houselots would also be distributed.

“By the end of this year, more than 40,000 house lots will be allocated. We will be allocating over 2,000 lots over the next two days and issuing 1,730 certificates of title,” the Minister said.

In keeping with its manifesto promise, land ownership, the minister noted, is the key hallmark of the government’s aim to support and promote wealth among Guyanese.

“The target of allocating 50,000 houselots over five years did not include in our manifesto commitment the complete houses. But where there’s a will, there’s a way. So far, we have allocated in excess of 1,700 houses, of which over 1,500 are in various stages of completion,” he disclosed.

He further revealed that new areas for housing will be identified, and these include Mabaruma, Region One; Wales, Region Three; La Bonne Intention (LBI), Felicity, Chateau Margot, Haruni, Non-Pareil, Enterprise and Silica City in Region Four.

In Region Five, a new housing area was identified in the village of Waterloo while in Region Six, it is Moleson Creek and Palmyra. Bartica was identified in Region Seven and Mahdia in Region Eight.

Plantations Hope and York in Region Ten will also see the development of new housing schemes.

“Affordable housing, as we know, is a critical necessity for the people of Guyana and easier access to financing has made it a dream to owning a home a reality for 1,000 of Guyanese,” Croal said.

He added: “Guyanese from all walks of life, can rely on the promise of our government to provide housing and at an affordable rate.”