3500 young professional homes to be completed by 2025 1st quarter – Pres Ali

…almost 1500 houses currently under construction

During its four years in office, the People’s Progressive Party/Civic (PPP/C) Government has successfully constructed nearly 2,000 young professional homes. President Dr Irfaan Ali announced that by the end of the first quarter of 2025, the Government will have completed a total of 3,500 such homes.
On Sunday, the President went into details about the various areas of development the PPP/C Government has advanced Guyana. One such area is housing, with the Government well on its way of keeping its promise to distribute 50,000 house lots within its first term in office.

When it comes to young professional homes, the President revealed that 1,923 of these homes have already been built. Further, by the end of the first quarter a total of 3,500 of these homes will have been completed.
“Almost 2000 homes have been completed under the young professional homes programme. Giving our young people not only home ownership, but dignity and pride in the communities in which they live. Another 1500 homes are in the process of completion.”
“By the time we finish the first quarter of this year, almost 3500 young professional homes will be completed. That is what we’re delivering, every single day to the people of Guyana,” the Head of State explained.
There have been other advancements in the Government’s housing drive, with the PPP/C Government investing over $244 billion in the housing sector to reenergise it after the mismanagement of the previous Government.
“Housing was practically dead under the APNU/AFC (A Partnership for National Unity / Alliance For Change) Government. Over the past four years, the housing sector has been reenergised. We’ve invested more than $244 billion in housing. This is where our resources go. We’ve been able to allocate more than 41,000 house lots. We’ve been able to regularise more than 26 squatter settlements.”
“Bringing home ownership to more than 42,000 persons. So, they can be empowered. They can own their own title, transport. They can get a loan, improve their living conditions and disposable income. They can have a loan now to go into small business, medium sized enterprises. That is how you empower people. By creating the mechanism and eco system to make them and their families more viable.”
To bring down the cost of construction, the Government also removed Value Added Tax (VAT) on local produced building material. And not only was the mortgage interest relief ceiling increased to $30 million, but an innovative programme was launched to provide 500 homesteads to single mothers.
This programme will see single mothers be provided with land along the Soesdyke-Linden Highway, with coconut or breadfruit trees and shade houses, so that these homeowners can grow and sell their own produce.
President Ali had previously explained that this bold initiative would tackle several issues at once, including home ownership, building community wealth, and food security. He had also explained that the Government would get the banks to finance a package that include the low-income home.
Additionally, it had been explained that these homes would be equipped with solar panels, which would reduce their cost of energy. The fact that these homesteads will be equipped with crops means that they will be able to have a recurrent revenue source.
Only recently, Housing and Water Minister, Collin Croal had highlighted the success of the Home Construction Programme, which has seen an investment of over $12.5 billion by the PPP/C Government for the construction of some 1,865 houses on the coastland.
These include 867 low-income homes, 398 moderate-income homes, 138 middle-income homes, 330 young professional homes and 82 Core homes under the Adequate Housing and Urban Accessibility Programme – all of which have been completed and handed over. In 2024 alone, $4.3 billion of the $12.5 billion was invested in the construction of homes and resulted in over 550 houses being completed and handed over. (G3)