8000 more house lots to be distributed by year end

…$8.1B spent in 1st half of 2022 on housing development

Government, through the Central Housing and Planning Authority (CH&PA), distributed almost 2000 house lots during the first six months of the year and is projected to distribute a further 8000 house lots by this year end.
This is according to the Ministry of Finance 2022 Mid-Year Report, which states that in the first half of the year, 1843 house lots were distributed. This means that since the People’s Progressive Party/Civic (PPP/C) entered office in 2020, they have allocated 11,680 house lots.

“In the first half of 2022, Government expended $8.1 billion of the $12.4 billion allocated to further develop the housing sector. It is expected that a further 8000 lots will be distributed by the end of the year.”
“A total of 449 land titles and transports were issued in the first half of 2022, and an additional 5600 are scheduled for the second half of the year, bringing the projected total to 6049, exceeding the 6000 land titles and transports targeted for issue in 2022,” the report stated.
It was explained that of the $11 billion allocated to continue infrastructure works in CH&PA housing areas, the sum of $7.4 billion was spent during the review period. To this end, infrastructural works are ongoing in housing areas in Regions Two, Three, Four, Five, Six and 10.
“Approximately 10 kilometres of roads were upgraded in existing housing areas at Uitvlugt, Belle West, La Parfaite Harmonie, Herstelling, Ordinance Fortlands, Bath, Balthyock, Good Hope, Mon Repos, Section D Non Pareil, Tuschen and Onderneeming. Additionally, 750 LED streetlamps were installed across the country during the first half of the year.”
“The installation of electricity and distribution networks were completed at 12 housing areas in Regions Three, Four and Six, with similar works in 14 new housing areas slated for the second half of the year,” the mid-year report also said.
Work was also completed on 25 core homes at La Parfaite Harmonie in the first half of the year, while another 25 are slated for construction by the end of the year. In the Sophia Housing Area, 25 core homes are currently being constructed, while construction of a further 25 is expected to commence by year-end.
“Additionally, the construction of another 21 core homes is expected to commence by the end of the year, along the East Bank and East Coast of Demerara. Also, construction was completed for 100 low-income homes at Hampshire/Williamsburg, 150 moderate-income homes at Cummings Lodge, and 125 houses for young professionals at Providence and Prospect, in the first half of the year,” the report explained.
It was explained that in order to accelerate Government’s “Dream Realised” housing drive, the CH&PA launched a home construction assistance programme during the first half of the year in Regions 3, 4, 6 and 10 with the aim of providing access to financing for persons building their own homes. In the first half of the year, 399 persons registered for assistance.
“This programme allows applicants to choose from three pre-designed units at a cost of $7 million, $9 million or $12 million, and pre-qualify for loans with financial institutions such as Republic Bank and New Building Society to meet the cost of construction.”
“Additionally, the distribution of 800 home improvement subsidies is planned for the second half of the year, with 121 home improvement subsidies, valued at $60.5 million to be distributed in the third quarter, and a further 679 subsidies before the end of the fourth quarter,” the report states.
Since taking office, the PPP/C Government has made it clear that it is aiming to fulfil its manifesto promise of distributing 50,000 house lots over the next five years. (G3)