By Saskia Warrick
In a move aimed at promoting home ownership and addressing housing challenges, the government of Guyana has announced a substantial investment of $2.7 billion in Region Three.
Over 440 families are set to benefit from house lot allocations in various areas including Anna Catherina, Edinburg, Leonora, and Meten-Meer-Zorg.
The investment will fund the construction of 63 two-bedroom low-income houses in Anna Catherina, along with additional units in Edinburg, Meten-Meer-Zorg, and the Leonora housing area.
Notably, 172 houses have already been awarded for construction in Leonora, with ongoing progress at Groenveldt.
Each unit is estimated to cost $5.3 million, with infrastructure works underway to ensure proper drainage and road networks.
Housing and Water Minister Collin Croal emphasized the importance of this initiative in facilitating increased home ownership.
He highlighted the challenges faced by individuals in starting construction after acquiring lands, underscoring the preference for finished products that can be obtained through bank financing.
Minister Croal also pointed out the broader economic benefits generated by growth in the construction sector, providing opportunities for various stakeholders.
From suppliers to service providers, the initiative is expected to create positive spinoff effects, contributing to overall economic development.
Since assuming office, the government has prioritized housing development, with 1,509 houses completed nationwide to date.
This ongoing commitment underscores the administration’s dedication to addressing housing needs and improving the quality of life for Guyanese citizens.