$170B required to address housing demand – President Ali

With about 57,000 applications for house lots within the housing ministry’s database, President Dr. Mohamed Irfaan Ali said $170 billion is required to fulfil this demand by providing serviced lots and housing units to citizens.

The president made this revelation on Thursday evening at the opening of the International Building Exposition at the National Stadium in Providence.

President Dr Mohamed Irfaan Ali addressing International Building Expo 2023

That is this scale of development, the magnitude of development and work that is ahead of us,” he underscored.

Delivering the keynote address, President Ali reaffirmed his government’s commitment to provide affordable housing opportunities to Guyanese.

He said the plan for the next three years, is to develop 20,000 new lots in Region Four and 14,000  in Region Three.

International Building Expo 2023 officially opens

Some 1,000 new homes and 1,000 new lots will be developed in Region 10; 1,000 in Region Seven, 4,000  in Region Six, 1,000 in Region Five; 250 in Region One; 1,000 in Region Two and Region Nine, 1,000.

Some 500 homes will be constructed in the hinterland under the Hinterland Housing Programme.

President Ali explained that, considering the current land availability, the government can provide 43,000 house lots, which falls short by 14,000 compared to what exists in the system. He said achieving the additional 14,000 poses challenges as it involves encroaching on wetlands.

International Building Expo 2023 officially opens

Additionally, there are 700 proposals in the system for industrial and commercial lots, some of which included request, for up to 20 acres of land.

The reality is that we do not have enough lands available in the system now to service even 50 per cent of the demands for industrial lots and commercial lots,” he revealed.

That’s just for housing, in order for these lands to become available, major investments must be made in the development of new highways.

International Building Expo 2023 officially opens

President Ali said that another $400 billion would be required to develop about 200 kilometres of roadways in the immediate to medium term.

“That is more than the entire capital but for this year minus the supplementary,” he said.

The head of state reiterated that the PPP/C Government is committed to establishing a system that ensures the fulfilment of everyone’s aspirations, leading to a prosperous, resilient, and sustainable nation.

Prime Minister Brigadier (Ret’d) Mark Phillips, Minister of Housing and Water, Collin Croal and Minister within the Ministry, Susan Rodrigues and other cabinet members, members of the diplomatic corps and the private sector were also present.

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