President Irfaan Ali has expressed pride in the government’s housing programme, underscoring its significant accomplishments and impact on Guyanese citizens. “We did not just commit to building 50,000 house lots, we are delivering it,” Ali stated.
According to Ali, the housing initiative has already provided access to homes for over 35,000 Guyanese, with an investment exceeding $240 billion. This substantial financial commitment extends beyond the construction of houses, encompassing vital infrastructure needed to support these new developments.
To complement the creation of 35,000 house lots and homes, the government has constructed 414 kilometres of new roads, laid 250 kilometres of water transmission mains, and installed 2,200 kilometres of electricity transmission lines. These improvements are integral to ensuring that new housing schemes are well-supported and sustainable, the President said.
Affordability has been a key focus of the programme. The average cost of a low-income home has been reduced to $4.2 million, with interest rates cut by 2.5%. Additionally, housing loans have increased by 18%, now standing at $56 billion.
The scale of construction under the programme is substantial. Over 3,000 houses have been built, including 1,000 low-income homes costing $5.9 billion, more than 400 moderate-income homes, and 100 middle-income homes, the President said. Additionally, 1,000 homes have been allocated to young professionals, and vulnerable populations have been supported with core homes.
Investments have also been made in hinterland housing, totalling $2 billion, benefiting many in remote areas. Furthermore, 16,000 individuals have gained from mortgage relief amounting to more than $2.8 billion.
President Ali emphasized, “We don’t just promise; we deliver. And we’ve achieved this in less than four years.”
